According to The New York Daily News, "Federal housing officials will give New York $24 million to buy, renovate, and resell 115 foreclosed homes."The news source also reveals that in 2008, 3,764 homes were foreclosed in New York City.
My question is: Why can't this financial assistance be given directly to the people who need help saving their domiciles? It now seems that New York is in the real estate business, with some start-up money from the federal government. SMH.
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