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Author Archives: Brittany Dunn

Treasury Provides Over $4 Billion in Recovery Act Funds

The U.S. Department of Treasury announced Tuesday that the American Recovery and Reinvestment Act (Recovery Act) has now provided more than $4 billion in funding, in an effort to spur the development of affordable housing around the country. The Recovery Act has created innovative partnerships between federal and state governments to provide a much needed boost to local economies, said Neal Wolin, Treasury deputy secretary.

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Undervalued Foreclosures Create Opportunities for Buyers

As the government looks to further stimulate the housing market in the face of a steadily rising national inventory of HUD foreclosures, huge savings are being realized on these properties, according to Annapolis, Maryland-based Heavy Hammer, Inc. The online networking and consulting company cited a recent study showing government foreclosures are routinely underpriced by 8 to 10 percent and said incentivizing aggressive valuations on these properties by third parties is creating opportunities of a lifetime for savvy first-time homebuyers.

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