Half Of Housing Grants Used To Buy Foreclosures

By: Associated Press
By: Associated Press

Undated (AP) -- Just over half of a new $4 billion federal housing program approved late last year will go to purchase and fix up foreclosed homes nationwide.

A report released this week shows other funding will be used to help low- to moderate-income families purchase the homes or to demolish vacant properties.

Ohio and its communities are receiving about $258 million in the first round of grants from the government's housing rescue program.

Its critics say it lacks oversight and accountability, and neighborhood groups want more of a say in how the money is spent.

For example, the Livingston Avenue Area Commission continues to press Columbus City officials to include the group in meetings about the funding.

(Copyright 2009 by the Associated Press. All rights reserved.)

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