City of Seattle to Offer Foreclosure Relief Loans

Last Wednesday, Seattle Mayor Greg Nickels, announced a plan to help 40 families in Seattle stave off foreclosure and help them stay in their homes.  Under the proposed plan, the city will provide $5000 loans through two non-profit groups, the Urban League of Metropolitan Seattle and Solid Ground to qualifying homeowners.  The loans would not have to be re-paid until the house is either sold or refinanced.  In order to qualify, homeowners need to make 80% or less of the median income.

 Homeowners interested in applying should contact the Urban League at 800-368-1455 or Solid Ground at 206-694-6766.