$5.2M program aims to increase home ownership

The National Faith Home Buyers and Blight Busters have launched "Now's the Time to Buy Detroit," a $5.2 million fund intended to encourage home ownership in the city.

Excerpt:

National Development Services Inc., a Detroit-based investment firm, has pledged $3.1 million while the Brewer Group, another investment firm based in New York, has pledged $2.1 million to the project. Movie actor Morris Chestnut, who has starred in dozens of movies including "Boyz n the Hood," "G.I. Jane," and "The Best Man," flew in to help promote the program and pledge an undisclosed amount of money.

"This is a phenomenal opportunity to give back to the people who have given so much to me," he said. "You’re not just placing people in homes, but educating people to help them stay in the homes."

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