Prev Blog
<<

Habitat for Humanity Flips Foreclosures into Affordable Housing for Needy Families

Next Blog
>>
Boomer Category: Rehabbing Fun
Current Grade: B+
Total Views: 726
Member Comments: 2
Posted on: 06/03/2008
Posted by: Boomer
Blog Points: 557
View all blogs >>

Amid the U.S. foreclosure epidemic, Habitat for Humanity has been capitalizing on the low prices of real estate owned properties (REO), and foreclosed properties to advance its mission to provide affordable housing in communities throughout the nation. Sound ironic? Maybe so, but it’s also a practical strategy for foreclosure-blighted areas to get their homes occupied as soon as possible.

By rehabbing these low-income properties, the non-profit is helping build stronger communities and property values in many of the real estate markets that need it most. They’re also helping to stave off some of the dangers that come with properties that seem to be abandoned in the long term.

Find the rest of the story on my blog at GaryBoomershine.com.

Current Grade: B+
Category: Rehabbing Fun
Leave A Comment
AddThis Social Bookmark Button Social Bookmark

Vieving 1 - 2 out of 2 comments
Bogie

Posted By: Bogie on 06/04/2008
I agree. Interesting story, but what does this do for us?
 
gREITzilla

Posted By: gREITzilla on 06/04/2008
Correct me if I'm wrong, but if cities and do-gooders pump a lot of money into these low-income properties won't that raise costs for investors and everyone else?

Habitat has widely publicized foreclosure problems of their own, and recipients of their homes get no-interest loans as it is. Don't they?