Sunday, April 26, 2009

News Story/Video on Neighborhood Strategy Program for Foreclosed Homes: Deja Vu, All Over Again.

A NBC nightly news story Saturday highlighted a first time homebuyer'a purchase of a foreclosed home acquired under the HUD Neighborhood Stabilization Program.

As story began, I was not entirely surprised to see that program involved a suburb of Detroit, my home town.

As the story unfolds we see shots of the home, kids looking at their bedrooms, happy mom at the closing table etc.

About 1:40 into the story, the local CD Director appears on screen discussing why program is important and how it helps neighborhoods. Guy looks vaquely familar, so I look closely and my job drops open, as the CD Director is the no longer young guy (Mike Rozny) I interviewed and helped hire as an Urban Intern in the Detroit HUD Office, the year after I started in the same program in Detroit.

A real irony (that I am sure is not lost on Mike) is that when we both started at HUD in Detroit we had an inventory of 16,000 [FHA] foreclosed homes the office was busy selling off, hitting as many as 1,000 sales a month. That foreclosure situation, and the racial block busting that was a primary reason for it, received earlier (and less favorable media attention) via a 60 Minutes piece many years ago.

Check out video below or at the link HERE

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