Cities are being encouraged to use online tools to assist in stabilizing foreclosures | Speed Matters – Internet Speed Test
May 20, 2009
While states across the country are beginning the applications process for broadband funding from the American Recovery and Reinvestment Act, the city of Los Angeles is providing an example of how high-speed Internet can help solve other problems addressed by the economic stimulus bill.
In July 2007, Los Angeles was allocated $32.8 million from Congress in the first round of National Stabilization Programs (NSP) funds. Los Angeles city officials used some of the money for purchasing assistance and home rehabilitation loans for buyers in priority areas, defined by high rates of unemployment, subprime loans, and foreclosures. But information about these priority areas and the locations of foreclosed homes was inefficiently compiled and clumsily made available to the interested public...
While states across the country are beginning the applications process for broadband funding from the American Recovery and Reinvestment Act, the city of Los Angeles is providing an example of how high-speed Internet can help solve other problems addressed by the economic stimulus bill.
In July 2007, Los Angeles was allocated $32.8 million from Congress in the first round of National Stabilization Programs (NSP) funds. Los Angeles city officials used some of the money for purchasing assistance and home rehabilitation loans for buyers in priority areas, defined by high rates of unemployment, subprime loans, and foreclosures. But information about these priority areas and the locations of foreclosed homes was inefficiently compiled and clumsily made available to the interested public...
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10:38 AM
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