Local Program Offers Foreclosure Fix
Residents Scooping Up Deals In Brockton
POSTED: 5:37 pm EDT April 28,
2008
UPDATED: 5:49 pm EDT April 28,
2008
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BOSTON -- Families are being forced out of their homes by foreclosure at record rates, leaving properties abandoned. But in Brockton, they are taking a new approach to fix the problem.NewsCenter 5's Jack Harper reported that as part of the Buy Brockton program, qualified buyers can get a 30-year fixed mortgage at a discounted rate and discounted closing costs on properties up to $417,000.
Video: City Tries To Fill Foreclosed HomesAbout 450 Brockton homes have gone into foreclosure. Officials are trying to avoid having vacant homes because they pose security risks and fire dangers."The fact is that the local lenders will be screening these people very thoroughly, very thoroughly," Boston Housing Partnership's Bob Martin said.One home on Clinton Street sold for $88,000. The economy is creating bargains for some homeowners."The city is actually putting in some of its federal funds to assist with closing costs," Martin said.
Video: City Tries To Fill Foreclosed HomesAbout 450 Brockton homes have gone into foreclosure. Officials are trying to avoid having vacant homes because they pose security risks and fire dangers."The fact is that the local lenders will be screening these people very thoroughly, very thoroughly," Boston Housing Partnership's Bob Martin said.One home on Clinton Street sold for $88,000. The economy is creating bargains for some homeowners."The city is actually putting in some of its federal funds to assist with closing costs," Martin said. Copyright 2008 by TheBostonChannel.com. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
