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March 7, 2021
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Mayors on Foreclosures
(2007-11-27)
(wgvu) - DETROIT (AP) - A mortgage industry association will help the
nation's mayors raise public awareness about ways to avoid losing
homes to foreclosure.
The agreement was announced following a meeting of mayors from
across the country in Detroit organized by the U.S. Conference of
Mayors.
The Mortgage Bankers Association also plans to help cities gain
access to information on homes that are in foreclosure to help
ensure those properties don't blight neighborhoods.
The mayors' group also released a report saying the rising
number of foreclosures will lead to billions of dollars in lost
economic activity next year in major metropolitan areas.
The mayors plan to discuss the national housing crisis again at
a Conference of Mayors meeting in January.
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