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Foreclosure Mitigation Toolkit for Communities
The Federal Reserve views the high rate of mortgage foreclosures as an urgent problem. Using the System's 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 effect.
The goal of this 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. For more information, contact the Federal Reserve Bank Community Affairs Office in your region.
The resources in this toolkit are presented as a four-step process:
Step One: Assess the foreclosure situation
Step Two: Reach troubled homeowners
Step Three: Establish post-foreclosure support systems
Step Four: Preserve neighborhoods