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Massachusetts’ efforts to address foreclosed properties

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  • Chakrabarti, Prabal

Abstract

The growing number of troubled mortgages in New England poses challenges for local communities. As foreclosures mount, so do the number of vacant homes, given that most properties that do not sell at auction remain in the hands of the foreclosing lender. These foreclosed properties, known as lender-owned or real estate owned (REO) properties, present an obstacle to preserving healthy neighborhoods.

Suggested Citation

  • Chakrabarti, Prabal, 2009. "Massachusetts’ efforts to address foreclosed properties," Community Development Investment Review, Federal Reserve Bank of San Francisco, issue 1, pages 65-72.
  • Handle: RePEc:fip:fedfcr:y:2009:p:65-72:n:v.5no.1
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    File URL: http://www.bostonfed.org/commdev/necd/2008/issue3/foreclosure-efforts.pdf
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    References listed on IDEAS

    as
    1. Gerardi Kristopher & Willen Paul, 2009. "Subprime Mortgages, Foreclosures, and Urban Neighborhoods," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 9(3), pages 1-37, March.
    2. John Y. Campbell & Stefano Giglio & Parag Pathak, 2011. "Forced Sales and House Prices," American Economic Review, American Economic Association, vol. 101(5), pages 2108-2131, August.
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