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Cash for Rehab

A $5.5M loan fund is now available to help people interested in buying/repairing homes offered by the Detroit Land Bank, which tend to need significant repair. The cash will be available in the form of downpayment assistance and home repair loans. Interesting fact: Duggan claims that 50% of the buyers thus far intend to live in the homes, while the other half are investors. [Freep]