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Posted at 10:40 AM ET, 06/ 3/2010

MoCo gets state funds for foreclosures

By Washington Post editors

Montgomery County has received an additional $1.7 million in state funds to help buy and rehabilitate foreclosed properties, said Rick Nelson, the county’s housing chief.

That brings the amount the county has received to purchase the foreclosed properties to about $7 million. In the past 12 months, the county has bought eight properties in Wheaton and eight in Germantown that had been in foreclosure.

Nelson said the program, which uses a combination of federal, state and local dollars, will help Montgomery ensure that neighborhoods remain stable and that the number of vacant, foreclosed properties is reduced.

County and state officials plan to discuss the program Thursday at a new conference.

Miranda S. Spivack

By Washington Post editors  | June 3, 2010; 10:40 AM ET
Categories:  Maryland  | Tags:  Foreclosure, Montgomery County  
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