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MMCDC receives $2.2 million mortgage award

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Midwest Minnesota Community Development Corporation has received a $2.0 million award from the U.S. Department of the Treasury to help stimulate the sale of homes in rural Minnesota, particularly foreclosed properties.

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FHLB Des Moines awarded MMCDC $250,000 in Affordable Housing Program grant funds to help qualified buyers access downpayment and closing cost assistance when purchasing foreclosed properties.

The $2.0 million award was made possible through the American Recovery and Reinvestment Act and the Community Development Financial Institutions Fund.

Those interested in purchasing a home in the community, contact Kathy Misson, vice president, Mortgage Lending, Midwest Minnesota Community Development Corporation, 218.847.3191, or www.mmcdc.com.

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