{"id":520293,"date":"2010-04-08T08:33:55","date_gmt":"2010-04-08T12:33:55","guid":{"rendered":"http:\/\/www.foreclosuredeals.com\/wp\/?p=6029"},"modified":"2010-04-08T08:33:55","modified_gmt":"2010-04-08T12:33:55","slug":"federal-money-could-target-columbia-pre-foreclosure-homes","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/520293","title":{"rendered":"Federal Money Could Target Columbia Pre Foreclosure Homes"},"content":{"rendered":"

Containing pre foreclosure homes<\/a> in Columbia could be included in the program that will be submitted by South Carolina government officials after the state recently received an allocation of $138 million from the $600 million provided by the Obama administration to five states to help the unemployed keep their homes and to spark economic growth.<\/p>\n

\"Federal<\/div>\n

According to Clayton Ingram, spokesperson for the South Carolina State Housing Finance and Development Authority, the agency has not yet determined the counties that will share in the money. The state needs to craft a plan on how it will spend the allocation, and if approved, the state will likely get the money later this year.<\/p>\n

The pace of foreclosures in Columbia<\/a> shot up by a staggering 65 percent last year compared to the pace in 2008, although foreclosure activity in the metro area is not as bad as in other areas. Columbia ranked 99th in a listing of 203 metro areas according to percentages of foreclosures.<\/p>\n

The total number of Columbia pre foreclosure homes and the number of residential units<\/a> that have entered real estate foreclosure listings<\/a> reached 4,461 in 2009. This number represented 1.44 percent of all households in the metro area.<\/p>\n

Housing agency spokesperson Ingram said that Columbia and Greenville survived the housing crisis much better than places farther from metropolitan areas. He added that counties struggling from the highest jobless rates could be given priority.<\/p>\n

According to officials of the South Carolina Employment Security Commission, the range of jobless rates throughout the state is wide. In December, the unemployment rate ranged from the 23.6-percent rate of Allendale County to the 8.7-percent rate of Lexington.<\/p>\n

Assistant Treasury Secretary Herbert Allison said that federal officials decided to let state officials craft their own plans on how to use the money because they are the ones who actually know the problems besetting their states.<\/p>\n

Representative John Spratt, chairperson of the House Budget Committee, lauded the decision of the Treasury Department to give states flexibility in designing their own programs.<\/p>\n

In February, foreclosure activity in South Carolina<\/a> resurged slightly after slowing down by 16 percent in January. There were 3,114 foreclosure postings in February, higher than the 3,101 foreclosures posted in January.<\/p>\n

With the federal funding newly allocated to South Carolina, it is expected that the number of Columbia pre foreclosure homes and foreclosed properties throughout the state would be reduced or be purchased and converted into affordable housing.<\/p>\n","protected":false},"excerpt":{"rendered":"

Containing pre foreclosure homes in Columbia could be included in the program that will be submitted by South Carolina government officials after the state recently received an allocation of $138 million from the $600 million provided by the Obama administration to five states to help the unemployed keep their homes and to spark economic growth. […]<\/p>\n","protected":false},"author":4091,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-520293","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/520293","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/4091"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=520293"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/520293\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=520293"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=520293"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=520293"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}