Oregon Public Broadcasting

The federal government is sending $67 million to help Northwest states to bring some relief to neighborhoods with high home foreclosure rates. Correspondent Doug Nadvornick reports.

Lee Jones from the Department of Housing and Urban Development calls it a “bricks and mortar” approach for areas with lots of abandoned houses.

Jones says the money will help state and local governments buy foreclosed homes and land in low and middle income neighborhoods. State and local officials could improve the homes and sell them at good prices to low-income families. They could even provide down payments or other financial help to the buyers.

Lee Jones: “I think what this act recognizes is how much things have accelerated and when something like this accelerates, it’s like a snowball rolling down a hill.”

Congress allocated this money in a housing recovery bill it passed earlier this year.

Washington’s share is about $28 million. Oregon and Idaho will each get about $20 million. Jones expects the money to be available by early next year.