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Community Leaders Join Forces to Purchase Foreclosed Homes

In an effort to revitalize their neighborhoods community leaders, area residents and the new owner of a bank are joining forces.

In an announcement made in front outside of U.S. Bank, located at 4932 W. Ohio, which took over the previous bank, Park National Bank, the goal is to purchase and rehab foreclosed homes in the area. Along with the Coalition to Save Community Banking, the bank will give thousands of dollars to buy and rehabilitate old homes, mainly located in West Side neighborhoods.

There are already six homes that have been purchased with this intention. They were bought with $600,000 and no-interest loans provided by U.S. Bancorp, the parent company of U.S. Bank. Each of these homes will be sold at cost to interested buyers. This means that each home will be given $100,000 for renovations.

Are you in danger of foreclosure? If so, don't hesitate to contact a Chicago bankruptcy lawyer today to learn more about ways in which you can save your home.

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The information on this website is for general information purposes only. Nothing on should be taken as legal advice for any individual case or situation.

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