Advertisement
Home About Us Contact Us Magazine Subscribe
Welcome to DSNews.com—delivering stories, ideas, links, companies, people, events, and videos impacting the mortgage default servicing industry. Tue May 22, 2012
Investors Lenders & Servicers Service Providers Attorneys & Title Companies Agents & Brokers

Kansas Set To Receive HUD Funds

The Wichita Eagle reports that the state of Kansas will receive $21 million from the Department of Housing and Urban Development’s (HUD) Neighborhood Stabilization Program to help fight blight caused by abandoned and foreclosed homes.

The money will be used for the state to acquire land and property, demolish or refurbish abandoned properties, and to offer down-payment and closing-cost assistance to low-income homebuyers.
Dale Gray, spokeswoman for HUD’s regional office in Kansas City, Kansas told the paper the state will get its share of the $4 billion HUD is distributing after it signs a grant agreement, which could happen in as soon as 30 days.
The Kansas Department of Commerce and HUD regional and field offices will oversee quarterly reports on the redevelopment activities that have been approved for funding, Brian Sullivan, an official at HUD’s national office, said.
“They have quite a bit of flexibility on what communities get the funding,” Gray added, referring to the oversight states will provide.
Foreclosures are up 155 percent in Kansas, according to RealtyTrac statistics.
Officials from municipalities are still waiting for information from the state on the program’s execution.
Mary Vaughn, the city of Wichita’s director of Housing and Community Services, said, “Our goal will be to improve properties and, thereby, neighborhoods they are in. It is definitely another tool in our campaign to stop blight.”


Author: Austin Kilgore Date: 01/29/2009 Category: Loss Mitigation, Foreclosure, Government

Friend's Name


Friend's Email*


Your Name


Your Email*


Security Code


Enter security code*

Message



Recent News


Advertisement

Sign up for daily e-mail updates.


Do you have a news tip, story idea, or suggestion for DSNews.com or DS News magazine?

Simply e-mail editor@dsnews.com.

Whether you choose to tell us a little about yourself or prefer anonymity, we appreciate your contribution!


Advertisement
About Us

Since its launch, DS News magazine has positioned itself at the forefront of an evolving industry. Always current with the most up-to-date default servicing news, DSNews.com keeps you informed through daily Web casts, community forums, and a wide range of industry resources.

Home About Us Contact Us Magazine Subscribe