Monday, April 06, 2009

Foreclosure Mitigation Toolkit for Communities

Author/Publisher(s): Federal Reserve of Philadelphia

Read Online: Foreclosure Mitigation Toolkit for Communities (offsite)

The Federal Reserve Board of Governors created this "toolkit" to help communities assess the foreclosures in their areas, reach troubled homeowners, and provide support for displaced homeowners.

Recommendation

The Federal Reserve views the high rate of mortgage foreclosures as an urgent problem. Using its expertise and extensive network of national and regional relationships, the Fed is collaborating with other regulators, community groups, policy organizations, financial institutions, and public officials to identify solutions to prevent unnecessary foreclosures and their negative effects.

The goal of the toolkit is to provide resources to assist communities in addressing the current turmoil in the housing market and minimize the impact of foreclosures on neighborhoods. Web links and local resources are included.

Keywords

Foreclosure, Mortgages, Mortgage, Deceptive, Unfair, Housing, Buying Home, Refinancing, Predatory Loans, Predatory Lending

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