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Home > BizTimes Daily > Archives > September 8, 2010
Milwaukee to receive $2.7 million in federal funds to ease foreclosure crisis
Published September 8, 2010 - BizTimes Daily
U.S. Congresswoman Gwen Moore (D-Milwaukee) announced today that Milwaukee will receive nearly $2.7 million to help neighborhoods fix and maintain properties that are vacant due to foreclosure.
Moore worked with her Congressional Black Caucus (CBC) colleagues on the House Financial Services Committee to include funding for the Neighborhood Stabilization Program (NSP) in recently enacted Wall Street reform legislation.
“Many of our neighborhoods are still reeling from foreclosures, and the situation may not get better until our economy has fully recovered from this recession. This crucial funding will help the city fix properties and reduce blight in the hardest hit neighborhoods,” Moore said.
Recent reports show that southeastern Wisconsin’s foreclosure filings fell in June and July of 2010 (compared with the same months the year before), but that filings rose in August. The state of Wisconsin will receive an additional $5 million for the program.
