Tuesday, January 19, 2010

No Foreclosure Help for Youngstown

Mahoning Valley Application was Rejected by HUD?

I got notice of a petition drive in Youngstown to protest the rejection of the Mahoning Valley Application for Neighborhood Stabilization 2 funding that was announced last week. The Youngstown paper has been aggressively reporting this story here and here. Evidently, Youngstown has one of the highest rates of foreclosure in the country, and was denied the joint proposal submitted by nine communities in the Mahoning Valley. The Youngstown Mayor and US Rep. Tim Ryan are crying foul and pledging to raise the issue with President Obama. In addition, the foreclosure funds given to the State of Ohio were distributed throughout the state and Mahoning and Trumbull counties received the smallest amount of all the large counties in Ohio. The Dayton area received the largest per capita amount of funding from Ohio even though they have a smaller 12.1% foreclosure rate in comparison to Youngstown and Cleveland with foreclosure rates at 14.7% and 12.7% respectively.

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1 comment:

Foreclosure Help said...

The neighborhood stabilization funding should be given prioritization and not rejection.