Twin City metro communities taking action against the high rate of foreclosure. Eden Prairie MN appears to be proactive in the attempts to keep homeowners in their homes.
Eden Prairie Housing and Community Service Dept has been diligently networking with the US Department of Housing and Urban Development (HUD) to make loans less than $10,000 per household where appropriate when home owners are struggling to stay in their home.
The monies to fund such a program is being proposed to come from the city's allotment of close to a quarter of a million under the federal Community Development block Grant Program. To date, HUD has implied the current rules aren't applicable. To assist such situations. Will this change in the near future? Will it be beneficial for those distressed home owners enough to save their home. Only time will tell if the city is successful in working with HUD to change the rules.
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