St. Louis to help residents in mortgage crisis

Tuesday, March 11, 2008

ST. LOUIS (AP) — The city of St. Louis is joining with several agencies to help residents who struggle to make mortgage payments.

Mayor Francis Slay announced the partnership at a news conference Tuesday.

Five social agencies have created "The St. Louis Alliance for Home Ownership Preservation," which will provide counseling and some financial assistance.

Slay said the city is contributing $500,000 to make grants of up to $1,500 to families needing money to refinance, modify loans or bring payments up to date.

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Information from KSDK, www.ksdk.com

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