You've probably heard the solem news about the housing market, but I have a feeling you have not heard about St. Louis's plan to fight the foreclosures crisis. Well today I talked to Mayor Slay about it, and he filled me in on the details. The bottom-line is that there are four areas in the city we see where we we see the bulk of them and we now have a step by step plan to fight them.

Here's a look at the step by step plan:

1. Buy vacant homes in target area A
2. Buy vacant homes in target area B
3. Buy bank owned property in target area A
4. Buy bank owned property in target area B
5. Buy any other homes in target areas A and B that the city can afford.

The city is going to use 5.3 million dollars from the federal government to make the purchases. The mayor says they hope to buy and fix up at least 100 homes in the city.

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