Todd Heisler/The New York Times

New York City Program to provide $750 Million in bonds over the next 5 years to assist new ownership and repair distressed moderate-rent apartment buidlings purchased by private equity firms during the financial boom that are currently deteriorating as they head for foreclosure. The program's goals are not only to prevent foreclosure, but to stabilize and retain neighborhood home values.

Full Story: City Bids to Save Housing Imperiled by Investors