Since 1981, as a result of voters passing ballot measures to create affordable housing, Seattle has now funded over 10,000 affordable apartments, provided down-payment loans to more than 600 first-time homebuyers and rental assistance to more than 4,000 households. Additionally, in early 2008, former Mayor Nickel launched the Foreclosure Prevention Program, which provides stabilization loans of up to $5,000, initially assisting at least 40 low-income homeowners with funds revolving over time to assist more homeowners at risk of foreclosure.
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