Ann Arbor scores $850,000 grant to deal with foreclosures

Ann Arbor’s slice of the foreclosure-crisis funds isn’t small – $850,000.The money comes from the federal government as part of its Neighborhood Stabilization Program. It’s supposed to help local communities deal with the fallout of the foreclosure crisis, such as vacant homes and blighted property. Ann Arbor plans to use its money to acquire and rehab foreclosed structures, demolish ones that are too far gone, and help first-time home buyers purchase their first home.The city gave Habitat for Humanity $245,000 to build or rehab affordable housing. Another $200,000 is going to rehab rental properties. About $50,000 will go for demolition of structures that are too far gone, such as those that are burned down — and yes, there are some in Ann Arbor. Another $270,000 will go towards home-buyer education.For information on the home buyer aspect, call (734) 997-1678 to register for home buyer education classes.Source: Jennifer Hall, housing manager for the Office of Community Development for Ann Arbor and Washtenaw CountyWriter: Jon Zemke