The surge in Slidell distressed properties for sale is being curbed by the Northshore Homeownership Preservation Coalition and other nonprofits.
Also, officials of St. Tammany Parish, where Slidell is situated, have continued to carry out their program of demolishing properties destroyed by Hurricane Katrina with new funding from the federal Housing and Urban Development. Eliminating dilapidated homes would prevent further deterioration of property values and the surge in underwater mortgages.
There are about 40 to 80 homes in list of fixer uppers in St. Tammany that are being evaluated for repair or demolition, according to statements from parish officials. With the $44,204 that the parish received from HUD, parish officials can continue their demolition project, which was stopped when the Federal Emergency Management Administration ended its financial support.
Under the FEMA program, only about 600 hurricane-hit houses were demolished, leaving many other dilapidated homes standing five years after Hurricane Katrina.
Residents of the Kingspoint community in Slidell, where there are still a number of abandoned properties, are relieved that the parish is again financially able to demolish dilapidated properties.
Meanwhile, the Northshore homeownership coalition will help residents save their homes from entering listings of Slidell distressed properties for sale by conducting foreclosure prevention workshops. One workshop scheduled in Mandeville will be held with help from the Louisiana State University, Fannie Mae, Southeast Louisiana Legal Services, Life Impact, Greater New Orleans Fair Housing and the Federal Deposit Insurance Corp.
Workshop participants will receive guidance on options available if they are in default, on their rights as homeowners and on scams that take advantage of troubled borrowers.
Distressed homes in Louisiana rose in number in April by more than 28 percent. Nearly 1,900 homes were hit with foreclosure filings, up sharply from 1,444 in the previous month. From January to April, more than 1,400 housing units became REO, and a number of these entered listings of Slidell distressed properties for sale.
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