Effect of Foreclosures: Home for the Masses
Posted in Foreclosed House, August 6th, 2009
As the number of foreclosures have become steady in few states, they have continued to rise in Georgia. However, Albany is supposed to see some positive changes mainly due to the fresh federal funded project. Usually when we think about home for the masses we imagine the construction of a brand new house, but soon enough the issue of Flint River regarding homes for the masses will result to a new development.
As observed by Stacey Odom-Driggers, the Executive Director for Flint River Habitat, “We are just now starting a rehab program we are doing a partner ship with the city of Albany the department of economic development and through government funds, the neighborhood stabilization moneys 500,000 has been earmarked to work with habitat.” The officials of the habitat commented that due to operating in partnership with Albany as they intend to use 500,000 dollars of federal funds to provide maximum homes.
Lenders are mostly attempting to recognize the homes having lesser rates of acquisition and till date only 10 such homes have been identified. Stacey emphasized, “It probably will take a more skilled volunteer so were hoping they come out which they usually do but yes were hoping we should be able to get more than 10 houses done with this money.”
According to Habitat, the attempt to build homes for the masses will continue. At the same time they expect that this project will probably turn out to be an affordable deal. As per the observations of Torsha Walker, who is a Habitat Homeowner, “Its definitely cheaper and most of the houses if they were foreclosed on they were lived in so there is not as much maintain and things to do to get it livable again so that’s a really goo thing.”
In fact, it is not only that Torsha Walker works for the project of Habitat but, she is also one of the present day Habitat Homeowner. According to her there are almost 4 such vacant and foreclosed houses in her list. In fact, according to her, having so many neighbors around her gives her the feeling of being more safe and secured. She commented that, “That’s a really good thing because then we don’t have to worry about people breaking in or staying in the houses and it makes you feel a little safer.”
The project of Habitat for Humanity actually has recognized numerous such homes being foreclosed. These houses are mostly located in the Albany region, while Habitat for Humanity intends to start working within September.
