Measures To Ease Foreclosures In Bibb County Causes Apprehension
April 2nd, 2009
Contradictory though it may sound, it is true that measures to ease foreclosures in Bibb County have lead to apprehension and fears of negative fallout.
Last Tuesday (9th December) when it was announced that money from the federal government would be dispatched to Bibb and Macon County to counteract the foreclosure problem, nearly thirty residents of Lake Wildowood arrived at an impromptu hearing to express their doubts about the measure. They had come to listen to what the officials had to say about the $4 million that was being expected to be received through HUD’s Neighborhood Stabilization Program. They argued that the funds would be utilized for people to purchase houses, which otherwise they could not have afforded. This would in turn worsen the foreclosure crisis, they opined. Stuart Griffin, a representative of Lake Wildwood Homeowner’s Association aptly commented, “While this may be a temporary fix, it will multiply the problem down the road.”
The officials from the city and county tried to allay the fears and explained that the measures for utilizing the funds are only in the preliminary stages. Nothing has been decided till now and before doing so there will be two public hearings, which all the residents of Bibb County could attend. They will be told how the money was planned to be used.
The first one would be on 19th December at the Terminal Station in downtown Macon. The date of the second one was yet to be fixed. Kevin Dubose the director of Economic and Community Development said, “I think between all of us we can come up with a scenario that can help.” The money will be spent on the purchase of foreclosed property, repairing or demolition of the same and land banking. Initially the approach will be two fold – spending $2.5 million for those regions with the high concentrations of foreclosed abandoned houses in tandem with Macon Housing Authority. Secondly in Bibb County plans would be set afoot for assistance in down payment targeting the REPO houses in areas most in need of such help.
Dubose clarified, “This is not bailout money. This is money for community development … to deal with blighting influences, to deal with vacant homes and to deal with the results of high cost loans.”
Lake Wildwood has been one of the worst areas mauled by foreclosure. The residents hope that they will have a positive say in the matter of disposing funds.
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- Experts Fail to Reach a Consensus on the Severity of the Foreclosure Crisis in New Jersey
- Foreclosures are Spawning a New Set of Landlords
- Foreclosure Evictions Have Become a Nightmare in Phoenix
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February 8th, 2010 at 9:18 am
[...] month this year, yet another family is expected to start life afresh in their new home, a former foreclosed property. The Greens are keen to give their children the space they need so that they can grow up [...]