A number of local block units, as well as the Council, are inquiring of federal mortgage insuring agencies about the disposition of repossessed homes in our neighborhood. If the federal agencies find the cost of rehabilitation excessive, repossessed homes are scheduled for demolition. Three such homes are causing concern in the neighborhood and, so far, efforts to find information and procedures for local people to acquire the lots are meeting little cooperation from the federal agencies.
Block units are especially concerned that after demolition the vacant lots may pass into the hands of speculators who will build houses not at all in keeping with present neighborhood structures.
Original newspaper source
Originally published in The Paper, December 1972.
