D.C. wants stimulus funds for housing

The federal government has released the guidelines for $1.93 billion in stimulus funding to stabilize neighborhoods ravaged by foreclosures, and D.C. is preparing its bid for some of that money. Recently released numbers show the need to address foreclosures in the city could be growing. Foreclosure starts – notices of coming foreclosure sales – tallied 911 for single-family homes in D.C. during the first quarter, far outpacing the 597 that were filed for all of 2008. That means a spike in foreclosures could be on the way. The number also may reflect a backlog caused by a national foreclosure moratorium that ended April 1.

Source: Washington Business Journal

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