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Vacant Property Task Force Reviews Mortgage Crisis Impact

By Jocelyn Bogen and Eugene Lowe
February 11, 2008


Vacant and Abandoned Property Task Force Chair York (PA) Mayor John Brenner convened mayors January 25 to discuss the impact of the mortgage foreclosure crisis on vacant and abandoned properties, and barriers to affordable housing. Brenner began the discussions by reviewing the publications and activities of the Task Force since its last meeting at the Conference of Mayors 75th Winter Meeting.

Vicki Vidal, Senior Director of Government Affairs with the Mortgage Banking Association, gave a presentation on a tool that provides local officials with contact information of major mortgage companies with respect to property preservation. The Property Preservation Resource Center assists local officials with streamlining their contact with mortgage companies by providing property preservation contact information at major mortgage companies or by using the Mortgage Electronic Registry System (MERS) servicer locator Web page. Searches can be accessed by inputting property addresses or borrower name to identify the servicer. The tool will be especially helpful to mayors and their cities when properties are abandoned and become vacant following mortgage foreclosures.

America’s Affordable Community Initiative Bryant A. Applegate briefed the task force members on the U.S. Department of Housing and Urban Development’s (HUD) initiative on barriers to affordable housing. Members requested further dialogue on some of HUD’s housing codes and how regulations are to be interpreted versus implemented, Applegate suggested mayors e-mail regulation procedures to him that are viewed as barriers to affordable housing at: a.bryant.applegate@hud.gov.

At the conclusion of the meeting, Brenner announced that the task force will update the 2006 Best Practice in Combating Problems of Vacant and Abandoned Properties, and that a solicitation will be sent to all mayors in March 2008.