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Washington gets $28M in federal foreclosure aid

Tue., Dec. 30, 2008, 8:15 a.m.

OLYMPIA — Washington will receive $28 million in federal home foreclosure aid.

The Department of Housing and Urban Development is distributing nearly $4 billion nationally through its Neighborhood Stabilization Program. The money was approved in July by Congress in a housing bill.

Funds will be distributed in Washington by the Department of Community Trade and Economic Development.

The money will help local jurisdictions buy foreclosed homes, fix them up and resell them to low- and moderate-income buyers. The funds also may be used in down-payment assistance programs.



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