Feds Aim to Stem Detroit’s Tide of Abandoned Homes

The federal government is pushing to eradicate a long-standing symbol of Detroit’s massive economic deterioration: the abandoned house. On Tuesday, the regulator of government-controlled Fannie Mae and Freddie Mac announced a pilot program that will begin in coming weeks in Detroit to keep families in their current homes through loan modifications, match distressed properties with non-profit organizations for resales and assist in building demolition.

AOL Real Estate

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