U.S. Set to Spend Millions to Upgrade Foreclosed Housing
Fed Govt is stepping up efforts to dispose of 4,000 residential properties in NYC met area that have come into its possession through mortgage foreclosure; HUD hopes to sell about 1,500 single-family homes, mostly in Bklyn, during '75; Govt repaired and sold about 600 homes in Bklyn in '73 at cost of about $4.8-million but sales fell short of rate of foreclosures; 3,000 of the 4,000 houses are in Bklyn, with remaining houses in Queens, Nassau, Suffolk, Westchester, Orange and Putnam Counties; surge in defaults and foreclosures in recent yrs follows a scandal-ridden program that was supposed to encourage minority home ownership by easing credit terms; properties to be rehabilitated and sold will be offered at appraised value plus cost of rehabilitation; HUD spokesman J Nugent Lopes estimates prices will begin at $20,000; homes will be available for inspection through real estate brokers and since prices are fixed, successful purchaser will be chosen by lot; HUD regional dir S William Green says dept will hold workshop For contractors and brokers interested in participating in program (M)