New Tool Kit Might Reduce Foreclosure Rate in MI

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New Tool Kit Might Reduce Foreclosure Rate in MI

By FOX 47 News. CREATED Apr 24, 2012

A new tool kit may help reduce the foreclosure rate here in Michigan.

It's from the Michigan Foreclosure Task Force, and offers strategies and best practices other states have used to lower their foreclosure rate.

The co-director of the task force explained just how much the foreclosure rate is affecting Michigan:

"In the last five years, we've lost 63 billion dollars in property value because of the foreclosure crisis. It's had a heavy duty impact on this state," said Neeta Delaney.

The tool kit can help anyone who wants to lead a local effort in response to the foreclosure crisis.