Stimulus money used to rehab foreclosed homes

3:57 PM, May 10, 2010   |    comments
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SANFORD, Maine (NEWS CENTER) -- Communities across the state are using federal stimulus money to rehab, then resell homes that have been foreclosed on.

Sanford is working on its first home now. The construction crew gutted it to remove all the lead and asbestos, then gave the place a complete overhaul. All the appliances, doors, windows and insulation will end up cutting the energy bill by two-thirds.

WEB: Maine Office of Community Development

The hope is that the homes will inspire others to invest in communities with large numbers of foreclosures. The Sanford Housing Authority expects it will have enough money to keep rehabbing and selling homes for 5 years. Sanford has the highest number of foreclosures in the state.


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