Neighborhood Stabilization: A Nationwide Community Effort

At the Five Star Default Servicing Conference and Expo, neighborhood stabilization and the involvement of local nonprofits were part of the curriculum. Nonprofit housing organizations are partnering up with lenders and government agencies to minimize neighborhood blight caused by vacant foreclosed properties and, when possible, put those homes back into the hands of responsible borrowers. Panelists representing the Federal Reserve Bank of Cleveland, Enterprise Community Partners, Inc., National Community Stabilization Trust (NCST), and NeighborWorks America discussed their efforts and innovations to stabilize neighborhoods.