A Federal Trade Commission publication that could help homeowners save their homes and recognize and avoid foreclosure scams. The publication explains different kinds of mortgages, what to do if homeowners fall behind on their mortgage payments, how to avoid default and foreclosure, and how to avoid predatory scams. To read the publication online, go to www.ftc.gov/opa/2007/06/mortpub.shtm.
A new best practices report from the Office of the Comptroller of the Currency. The rapid growth in the subprime and nontraditional mortgage market, combined with a slowdown in the appreciation of home values, may lead to increased foreclosures over the next few years. The report reviews strategies that banks are using to prevent foreclosures and mitigate credit losses. It is available at www.occ.treas.gov/cdd/Foreclosure_Prevention_Insights.pdf.
A new, online resource for those interested in community development and investment both in the United States and in other countries. The web site offers news, information, perspective and opinion, research reports and links to government, not-for-profit and corporate organizations, and other information sources. The network is available at no cost to community development leadership, civic leaders, public officials, journalists, researchers, public policymakers, funders and others. Visit www.communityinvestmentnetwork.org.
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FedCommunities.org is a portal to community development resources from all 12 Federal Reserve Banks and the Federal Reserve Board of Governors.