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5 Hampton Roads cities get millions for foreclosed home rehab
09:51 AM EDT on Monday, June 8, 2009
RICHMOND (AP) -- Five Hampton Roads cities are among several Virginia localities to receive money to buy and rehabilitate foreclosed homes.
Gov. Timothy M. Kaine announced more than $17 milllion for Neighborhood Stabilization Funding. He says the rehabilitated homes will be sold to low-to-moderate income families.
Hampton: $2,000,000
Newport News: $700,000
Norfolk: $1,794,375
Portsmouth: $2,000,000
Suffolk: $971,444
Virginia Foreclosure Prevention Website
Kaine says $15 million will be used to rehabilitate about 136 homes in 29 high-need neighborhoods across the state.
Frederick, Shenandoah and Warren counties will share the remaining $2.5 million to address foreclosures in the Northern Shenandoah Valley.
Kaine says about 16,000 foreclosed homes are vacant around the state.
(Copyright 2009 by The Associated Press. All Rights Reserved.)
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