Lottery set for foreclosed home in Freeport
Foreclosed homes in Freeport will be auctioned off by the Community Development Corp. of Long Island. (Undated) Credit: iStock
In the past two years the Community Development Corp. of Long Island, a nonprofit that provides support for people seeking homes or small businesses, has sold off about 30 foreclosed homes to first-time home buyers, and it is about to sell another one.
The CDC is to hold a housing lottery Thursday at 3 p.m. at its NeighborWorks Homeownership Center, 54 W. Merrick Rd., Freeport.
The house is to be rehabilitated, made energy-efficient and sold to a first-time home buyer, CDC said.
The organization said "several homes" will be made available in upcoming months through the same lottery system. All are located in the northeast section of Freeport village.
There is plenty of stock available on the Island.
The listing service RealtyTrac said last week that lenders put 1,230 homeowners on notice about pending foreclosure proceedings in August, a 52 percent rise from July but also a 13 percent drop from a year ago.
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