Foreclosure blight: The cleanup crawls along
29 Sep 2009 - Tami Luhby | CNNMoney.com
Over the past year, LISC has been working to stem the foreclosure crisis in many of neighborhoods across the country. We are a founding member of the National Stabilization Trust and our offices around the country has been developing new partnerships, formulating new financing mechanism and providing technical assistance to many local foreclosure relief efforts. LISC's executive vice president and COO, Mike Tierney, was interviewed and quoted for the story.
Washington put up billions to save blighted areas by buying abandoned homes. But states and cities are having trouble getting properties away from banks.
..."The challenge has been to get this money into the field and working," said Michael Tierney, chief operating officer of Local Initiatives Support Corp., a community development organization. "It's moving more slowly than we anticipated. I don't think it will have as much impact as we originally hoped." Continued [+]...
> Read the full CNNMoney.com article
> Visit the National Community Stabilization Trust website
Article Type: News