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AP: Cities take action to stop foreclosures

The Associated Press has this report posted at MSNBC today: Cities sue, invest to stop foreclosures.

A snippet:

Philadelphia is just the latest in a growing number of cities — including Los Angeles, Baltimore, and Trenton, N.J. — that are taking matters into their own hands to help stop the nation’s housing crisis within their borders.

With more than a half-million foreclosed homes on the market, and over 3 million borrowers behind on their mortgages, more cities are aggressively reaching out to residents and filing lawsuits against lenders. …

In order to battle a foreclosure rate that is 2.5 times the national average, according to First American CoreLogic, Trenton’s mayor has asked pastors to preach at least one sermon in June on foreclosures and to distribute information about where to get help. Church volunteers became walking billboards, wearing “Save Trenton Homes!” T-shirts with hotline numbers on the back.

Monroe, Mich., may not be making national headlines with its foreclosure problem, except in context of the “greater Detroit area.” But there are local efforts to reach out to families in distress.

The most notable example is when several government offices, non-profit agencies and financial firms coordinated efforts to host a Mortage Solutions seminar March 29 at Monroe County Community College.