Cites Began to Look at Foreclosure Bail Outs.

Two news stories.

1. One from Minnesota, HERE, would include CDBG funded loans.
2. The other from Indianapolis, HERE would involve a discounted bulk purchase of FHA foreclosures in specific areas, called an "asset control area" program.

Editorial Comment: As someone at HUD who helped deal with an inventory of 16,000 FHA foreclosures in my home town of Detroit, there is NO greater challenge for a government agency than trying to interface with private contractors/non profits to efficiently acquire, rehab, preserve and then sell foreclosed properties,especially in declining markets.