Our share of the $3.9 billion
Included in the housing rescue law passed in July was $3.9 billion for "neighborhood stabilization" -- money intended for buying and rehabbing foreclosures so they can be resold or rented. Yesterday HUD announced how the funds will be divvied up.
Maryland is getting $46.4 million overall -- much to the state government but some directly to three jurisdictions: $4.1 million to Baltimore, $2.6 million to Baltimore County and $10.9 million to Prince George's County. That's a lot less than California, Florida and other large states struggling with well-publicized foreclosure woes, but interestingly, HUD gave Maryland the same "abandonment risk" rating as Florida. (Both were judged to have "medium" risk of foreclosed homes remaining vacant, with no one interested in buying.)