Wednesday, May 21, 2008

Another Benefit of Foreclosures

We blogged previously about how One man's foreclosure becomes another man's treasure. Here's more evidence of the people benefitting from foreclosures. ABC News reports that foreclosed properties provide an opportunity for Habitat for Humanity to purchase more properties and provide housing for those who otherwise could not afford it.

As our prior post noted, much of the media coverage on this issue focuses on the sad stories of those losing their homes and ignores the happy stories of those gaining new homes through foreclosure opportunities. The Habitat case is a nice counterexample.
Habitat's work makes a difference in the lives of people like Yenenes Tezgera and her family, who will move into a new home in St. Paul soon after putting in an estimated 400 hours of work on Habitat projects in the area. She and her husband have a 17-month-old boy and another child on the way.

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