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Jacksonville Florida Real Estate Blog

Get latest news and real estate development in Jacksonville, Florida. A real estate blog by Will Vasana, Realtor.

November 12, 2008

Duval Schools in Jacksonville Get $400K AT&T Grant

AT&T gave the Duval County School System a four-year, $400,000 grant to ensure students who started high school this year will graduate in 2012.

The grant funds the AT&T Aspire initiative, Communities In Schools of Jacksonville. The funds will expand the organization’s existing high school dropout prevention efforts to a total of six Jacksonville schools and more than 1,000 students.

AT&T Aspire is a national initiative. In addition to program grants it also funds a student shadowing initiative, underwriting of national research and support for 100 state and community dropout prevention summits.

Source: Jacksonville Business Journal

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Citigroup Offers $20B in Mortgage Relief

Citigroup Inc. says it will offer to modify terms on up to $20 billion in mortgages.

The program will be extended to borrowers who are making their payments but are in danger of falling behind.

It includes subprime borrowers as well as those with good credit who took out prime loans.

The New York-based Citigroup says it expects about 130,000 customers will see lower mortgages. The program is limited to customers whose mortgage payments equal more than 40 percent of their income.

Citi joins Charlotte, N.C.-based Bank of America Corp. and JPMorgan Chase & Co. of New York in offering loan modifications. The Federal Deposit Insurance Corp. also has been offering help to borrowers whose mortgages are serviced by IndyMac Bancorp, which the FDIC took over in July. Bank of America has 42 branches in the Albany, N.Y., area.

Source: The Business Review

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