CRYSTAL LAKE, Ill. (CBS) – Officials in McHenry County are pitching in to help the housing market rebound.
The county purchased 14 homes from owners who were financially strapped. Two of them have since been sold, two have been rented, and the rest are being fixed up to be put back on the market, TribLocal reported.
County officials hope the move will stabilize home prices in the neighborhoods where the houses are located.
The county bought the homes with an award of $3.1 million from the Neighborhood Stabilization Program, part of the Housing and Economic Recovery Act of 2008, TribLocal reported.