2009-04-13propublica.org

"HUD's Dollar Homes program, initiated in 1998, had a straightfoward mission: "Local governments would buy [foreclosed] homes for $1, fix them up and resell them at a discount to poor families." But in California, investors and housing contractors have been buying homes under the program and flipping them for a profit, reports the Los Angeles Times. "HUD officals said that because the Dollar Homes program was mandated by Congress, it does not receive the same type of attention and follow-up as programs created by HUD itself," according to the Times."



Comments:

taps65 at 17:57 2009-04-13 said:
Blatantly exemplified and hidden in plain sight in the Antelope Valley. The question is not the abuse but the enforcement, there is either none or they dare not bite the hand that feeds them. Since 2006 we have been actively reporting this matter to all Local, State and Federal Agencies- results, NONE. Permalink

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