The Savings Institute Bank & Trust Co., Willimantic, Conn., has announced that it will participate in the Connecticut Housing Finance Authority's Rehabilitation Loan Program.Under the program, borrowers can purchase an existing home and obtain funds to rehabilitate the property with just one mortgage. "Older communities such as Windham, Norwich, and New London have large numbers of older properties that have fallen into disrepair," said Rheo A. Brouillard, the bank's president and chief executive officer. "Often, those most in need of repair are those owned by non-occupants. ... History has repeatedly shown that owner-occupants tend to take better care of, and have more pride in, their properties."
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