Streaming Live: The Fedís REO and Vacant Property Strategies for Neighborhood Stabilization
Posted by Matthew Brian Hersh on September 1, 2010
The Federal Reserve System is sponsoring a national summit on September 1 and 2 to discuss methods and resources for encouraging neighborhood stabilization in the aftermath of the U.S. home mortgage foreclosure crisis. The forum will showcase findings from Federal Reserve research and policy efforts, including the release of the publication REO and Vacant Properties: Strategies for Neighborhood Stabilization.
People living in communities with vacant properties face declining property values, loss of public services due to reduced tax revenue, and increased levels of crime. The summit will examine practical and tested strategies that nonprofit organizations, local and regional governments, federal officials, and lenders can use to mitigate the impact of vacant and real estate owned (REO) property—property held on the books of banks, typically after failure to sell at foreclosure auction.
About the author more ¬Ľ
Matthew Brian Hersh proudly served as senior editor at Shelterforce from March 2008 to October 2012. He studied English at Rutgers University and has spent his professional career in journalism, policy, and politics. He displays many of the trappings of a New Jersey sports fan: dispirited Mets fan, former Nets fan before they left the state, and normally satisfied Giants fan. Hersh lives in Highland Park, NJ with his wife and two children.