HUD to Give Communities, Non-Profits First Shot at Foreclosures

Meena Thiruvengadam Dow Jones Newswires via 9/1/2010

WASHINGTON -(Dow Jones)- The U.S. Housing and Urban Development department plans to partner with mortgage lenders to offer state and local governments and nonprofits a chance to buy bank-owned properties before they’re offered to private investors.

“Local communities will now get an exclusive option to buy foreclosed […]