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Detroit To Offer 0% Interest Home Repair Loans To Residents

If you drive around the streets of Detroit, it’s pretty much inevitable that you’re going to see a home that could use repair. Often, the reality is traditional lenders such as banks do not make funds available inside America’s inner cities (for instance, less than 400 mortgages were written within the 139 square miles of the City of Detroit last year). So, Detroit is trying to fix its own problem – access to capital. One way to do this is through no interest loans to city residents. On the ne...

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