The Louisville Urban League is sponsoring an event this week aimed at helping homeowners who are in foreclosure or facing the possibility of losing their home. The group’s Christy McCravy says the “Preserving Homeownership Fair” will allow residents to talk face-to-face with lenders and others to discuss their situation. “If their lender is not present, […]
A group of Louisville Metro Council members gave a final warning to delinquent property owners Friday. A list of owners who have not properly maintained or paid fines on their vacant properties will be published in the newspaper in about two weeks.
With unemployment hovering around 12%, homeowners with all types of mortgages, from subprime to standard, are defaulting.
A summit will be held this week in Louisville to help government leaders and citizens from several states learn more about reclaiming vacant properties. Jennifer Leonard with the National Vacant Properties Campaign based in Washington, D.C. says the number of vacant properties is on the rise. “What’s different over the last year and the last […]
Louisville has received nearly seven-million dollars in funds from the federal government to buy up foreclosed properties in specific neighborhoods and renovate them. It’s an effort to prevent property values from falling. The money comes from the Neighborhood Stabilization Program approved by Congress in last year’s Economic Recovery Act (2008). Mayor Jerry Abramson says they’re […]
Louisville Metro Government will hold a public hearing later this week for input on how to best spend nearly $7 million in federal funds aimed at improving neighborhoods with high rates of foreclosure. Spokesperson Kerri Richardson with the mayor’s office says officials have identified five areas of Louisville to share the money—Newburg, Shawnee, Portland, Park […]
Lawmakers hope a bill passed last week by Congress will help up to 400-thousand struggling American homeowners. But a local mortgage banking industry expert says many Louisville homeowners won’t qualify for the refinanced, government-backed loans. Mortgage Bankers Association of Louisville President Adam Hall says the loans will only be available to homeowners who are upside-down […]