Last year, New Castle County had a significant increase in the number of foreclosed and abandoned properties. In fact, there have been 2,799 foreclosures filed, an increase of 23 percent from the same time period in 2008.
Through the Neighborhood Stabilization Program, New Castle County has received $7 million from the U.S. Department of Housing and Urban Development to purchase and rehab homes in communities hit with high volumes of foreclosures.
Initially, thirty one homes will be purchased, with an additional 38 homes to be bought and sold over the next 5 years. These homes will be offered at affordable rates to potential buyers or renters.
Bellwether Manor Maintenance Corporation
New Castle Gets $7 Million for Foreclosed Homes
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