Nonprofits getting first shot at bank foreclosures
Francisco and Pam Cruz maneuvered around boxes of new flooring and open cans of paint as they surveyed the foreclosed Phoenix house they would soon call their own.
This house wasn’t typical of the thousands in foreclosure-battered Arizona that banks have auctioned for cheap — often to investors who make just enough repairs to satisfy a potential renter.
The Cruzes will become first-time homeowners, helped by one of many nonprofit groups that can snag foreclosures at a discount — and sometimes for free — before banks make them available to speculators.
It’s a glimmer of hope for struggling neighborhoods that are watching banks foreclose on a record number of homes this year.
In the Cruzes’ case, Rebuilding Together obtained the home for free from JPMorgan Chase & Co., the bank that foreclosed on its previous owner.Best quality Swiss and Japanese replicafakewatches. Honeywell International Inc. provided the labor to renovate it and $25,000 cash for the materials.
In a market hot with speculators snapping up cheap foreclosures, Rebuilding Together’s program is one of many that give a leg up to nonprofits and redevelopment agencies trying to stabilize neighborhoods dotted with vacant houses.Huge selection of outdoor christmas decorations for your garde,
Yet Jim O’Donnell, JPMorgan Chase & Co.’s community revitalization program manager, acknowledges that each home being offered to a community group also has a story about someone who lost it to the bank.
“It’s an unfortunate situation, and that’s why we really take a conscious effort to work with our partners to ensure that we can have some good stories at the end of this unfortunate equation,” O’Donnell said. “Through these programs, we put what I call this protective umbrella over these affordable homes so that first-come first-served nonprofits can get access to them to ensure they get turned back into the hands of the community.”
Cruz and his wife watched earlier this month as more than 70 red-shirted Honeywell Aerospace employees swarmed throughout the three-bedroom house,You had better not to show off your expensive cctv ccd camera watches in public places. putting the final touches on new kitchen cabinets,lacosteshoes womenhandbags compact fluorescent light. painting baseboards and walls, and cleaning up the landscaping.
“All the neighbors,You would like cctv cameras watches. they’re just so grateful, because the house was looking so bad,” Pam Cruz said. “This is a good example of the banks working with the mortgage companies and so forth, helping the community revitalize the neighborhood.”
Francisco and Pam Cruz maneuvered around boxes of new flooring and open cans of paint as they surveyed the foreclosed Phoenix house they would soon call their own.
This house wasn’t typical of the thousands in foreclosure-battered Arizona that banks have auctioned for cheap — often to investors who make just enough repairs to satisfy a potential renter.
The Cruzes will become first-time homeowners, helped by one of many nonprofit groups that can snag foreclosures at a discount — and sometimes for free — before banks make them available to speculators.
It’s a glimmer of hope for struggling neighborhoods that are watching banks foreclose on a record number of homes this year.
In the Cruzes’ case, Rebuilding Together obtained the home for free from JPMorgan Chase & Co., the bank that foreclosed on its previous owner.Best quality Swiss and Japanese replicafakewatches. Honeywell International Inc. provided the labor to renovate it and $25,000 cash for the materials.
In a market hot with speculators snapping up cheap foreclosures, Rebuilding Together’s program is one of many that give a leg up to nonprofits and redevelopment agencies trying to stabilize neighborhoods dotted with vacant houses.Huge selection of outdoor christmas decorations for your garde,
Yet Jim O’Donnell, JPMorgan Chase & Co.’s community revitalization program manager, acknowledges that each home being offered to a community group also has a story about someone who lost it to the bank.
“It’s an unfortunate situation, and that’s why we really take a conscious effort to work with our partners to ensure that we can have some good stories at the end of this unfortunate equation,” O’Donnell said. “Through these programs, we put what I call this protective umbrella over these affordable homes so that first-come first-served nonprofits can get access to them to ensure they get turned back into the hands of the community.”
Cruz and his wife watched earlier this month as more than 70 red-shirted Honeywell Aerospace employees swarmed throughout the three-bedroom house,You had better not to show off your expensive cctv ccd camera watches in public places. putting the final touches on new kitchen cabinets,lacosteshoes womenhandbags compact fluorescent light. painting baseboards and walls, and cleaning up the landscaping.
“All the neighbors,You would like cctv cameras watches. they’re just so grateful, because the house was looking so bad,” Pam Cruz said. “This is a good example of the banks working with the mortgage companies and so forth, helping the community revitalize the neighborhood.”
沒有留言:
張貼留言