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September 27, 2010

REO & Vacant Properties: Strategies for Neighborhood Stabilization

REO-book_cover.jpg

The Center on Urban Poverty and Community Development, contributed to a Summit and to the joint publication of the Federal Reserve Bank of Cleveland and the Federal Reserve Bank of Boston named, "REO & Vacant Properties: Strategies for Neighborhood Stabilization." Resources for stabilizing communities are available off the summit's website.

"The foreclosure crisis that the nation continues to grapple with has led to scores of real-estate-owned, or REO, properties. These and other vacant properties erode the values of nearby houses, fracture neighborhood stability, and threaten to undo decades of economic progress made in communities across the country over the past 25 years. How big is the REO problem? How are communities, banks, and policymakers dealing with the challenge? Most important, what approaches are showing the most promise for success."

The Center's Chapter is titled" REO and Beyond: The Aftermath of the Foreclosure Crisis in Cuyahoga County, Ohio." The full summit report PDF may be obtained here.


The Center on Urban Poverty and Community Development is located within the Mandel School of Applied Social Sciences, a graduate school of social work, at Case Western Reserve University.