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Kalamazoo, Toledo Are First of 10 Communities Selected for Wells Fargo Grant

DETROIT-The housing foundation will expand home ownership services in 30 cities with a $877,000 grant. The money will be used to offer pre-purchase counseling to prospective homeowners including down payment and closing costs. assistance.

By Robert Carr | Updated on November 21, 2000

DETROIT-The Wells Fargo Housing Foundation of Des Moines, IA is providing a $877,000 grant to Neighborhood Reinvestment Corp., a non-profit community development organization that will use the funds to expand home ownership services to low- and moderate-income home buyers in 30 cities within a three-year period. Kalamazoo, MI and Toledo, OH are two of the first 10 cities that will benefit from the grant.

Neighborhood Reinvestment supports affordable housing initiatives through NeighborWorks, its network of local, non-profit housing organizations. The money will be funneled to NeighborWorks HomeOwnership Centers, which help increase home ownership by helping customers with a wide variety of home buying services including pre-purchase counseling, construction oversight, down payment and closing cost assistance, post-purchase counseling and foreclosure prevention programs. The donation will also support a fellows program whereby local housing representatives will receive advanced training from the Neighborhood Reinvestment Corp. Training Institute.

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