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Problem of Foreclosures and Manufactured Homes for Sale Addressed

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By : John Cutts    99 or more times read
Neighborhoods in Des Moines, Iowa suffering from huge numbers of distressed properties, including foreclosed manufactured homes for sale, recently received aid from lender Wells Fargo. The bank reportedly provided a grant worth $250,000 to revitalize these communities.

Areas that have high levels of Des Moines foreclosed homes, like Drake neighborhoods, are the main beneficiaries of the grant. According to local housing officials, the grant was provided under Wells Fargo's nationwide initiative designed to increase affordable housing supplies in an effort to stabilize communities that have suffered from high numbers of distressed properties.

According to the Drake Neighborhood Association, it has been collaborating with the Neighborhood Development Division of Des Moines to improve areas in the community that have the highest supplies of Iowa foreclosure homes. The efforts include plans for improving housing, sidewalks, streets, transportation, parks and commercial real estate. The association has also reported that the Wells Fargo grant will be supplemented by volunteer actions from the bank's employees.

Under the collaborative effort, volunteers from the lender will help fix foreclosed properties, even foreclosed manufactured homes for sale. The grant, on the other hand, will be used to finance education programs and foreclosure counseling initiatives. The money will also be used to provide funding to home buyers, including down payment aid.

In addition, the funds will finance the construction of low-priced housing and the redevelopment of property foreclosure. Local housing officials have asserted that the program will show the benefits of pooling together the resources of neighborhoods, businesses and city officials to address the problems created by the housing market crisis.

They also stated that the grant, along with the volunteer program, will help stabilize the communities that have suffered from the housing industry crisis. Those areas that have high numbers of vacant and abandoned foreclosed properties will be the main target of the collaborative effort, local officials have added.

The grant provided by Wells Fargo is part of the lenders' Priority Market program which targets 34 local areas all around the U.S. Reports reveal that the bank is also planning to help in promoting homeownership and is encouraging people to purchase distressed properties, including foreclosed manufactured homes for sale, in a bid to stabilize blighted neighborhoods all around the country.
John Cutts has been educated in the finer points of the foreclosure market over 5 years.

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