Milwaukee County Unveils Program to Fight Foreclosure Crisis
Milwaukee County Executive Chris Abele is proud to announce the Milwaukee County Foreclosure Initiative.
MILWAUKEE – Milwaukee County Executive Chris Abele is proud to announce the Milwaukee County Foreclosure Initiative, a new program that will offer zero interest loans to help people purchase and fix up foreclosed homes. This is the first time Milwaukee County has ever offered a foreclosure program.
County Executive Abele’s plan creates an $837,000 revolving loan fund for homeowners and investors to buy and repair foreclosed homes. Money for the program came from land sale proceeds, so no tax dollars are being used. The homeowner or tenant must be an individual receiving County service, including veterans and seniors.
“This is another initiative we are adding that will help to put people to work, strengthen communities and improve the lives of everyday citizens,” County Executive Abele said. “Since I was elected we have worked hard to partner with other governments anytime it will create efficiencies and better service, this program does that.”
The Milwaukee County Foreclosure Initiative was designed in partnership with the city of Milwaukee to complement their Strong Neighborhoods Investment Plan.
Homeowners and investors can access applications for the Milwaukee County Foreclosure Initiative online at: www.County.Milwaukee.Gov
Applications will be taken on a competitive basis and must be postmarked by June 23, 2014.
Submit applications to:
James Mathy, Milwaukee County Housing
2711 W. Wells Street
Milwaukee, WI 53208
Potential borrowers should contact James Mathy at 278-5106 or Jean Wolfgang at 278-4880 with any questions.
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