Monday, January 16, 2012

Habitat for Humanity, banks, others collaborate on foreclosures

While building homes for low-income families remains a part of Habitat for Humanity’s mission in Sonoma County, local volunteers say they’ve found a cost-effective alternative in the current economy – purchasing and renovating foreclosed houses.

The yet-to-be-named initiative, which officially kicks off on Jan. 25, involves a coordinated effort from local banks, volunteers and the Santa Rosa Housing and Redevelopment Board. Habitat for Humanity of Sonoma County just completed the purchase of its first home, and organization officers said they hope to provide 100 percent, interest-free financing to low-income families for six homes this year.

Read the rest of the article at North Bay Business Journal

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