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The Sun
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Unfortunately these funds can not be used for foreclosure prevention. It was not designed to help borrowers that are facing foreclosure-only to buy properties that are already bank-owned. So coming up with ways to make the most impact in neighborhoods faced with a lot of bank-owned and blighted properties is the challenge that the city has to meet. Call your congressman if you want a program to help borrowers in foreclosure because they are the folks who created the regulations for this program.