Thursday, December 16, 2010
Banks Encourage Local Groups to Buy Foreclosures
The National Community Stabilization Trust facilitates the transfer of foreclosed and abandoned properties from financial institutions nationwide to local housing organizations to promote productive property reuse and neighborhood stability. In collaboration with state and local governments, the Stabilization Trust builds local capacity to effectively acquire, manage, rehab and sell foreclosed property to ensure homeownership and rental housing are available to low- and moderate-income families.
The National Community Stabilization Trust has developed the tools necessary to foster neighborhood recovery in the wake of rising foreclosures and property abandonment across America.