foreclosure

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Home sales in Rhode Island held steady last month.  July was the eight month of increased year over year sales.

John Bender / RIPR

Eight years since the height of the national foreclosure crisis, Providence faces a plague of vacant houses, blighting neighborhoods.  Now the capital city’s new mayor is ramping up efforts to combat the issue. One home on the city's West Side is a success story; it's part of the ambitious plan to create many more in the state capital.

On a cold, sunny morning in March a massive front end loader tears into a tan, two-story home, on Marshall St. on the West Side of Providence. A group of neighbors and passersby watch from across the street.

RI Department of Administration / Division of Planning

Rhode Island housing officials are unable to justify how they spent some federal funds meant for low income housing. That’s one of the findings of a U.S Housing and Urban Development agency audit of the program.

Thanks to legislation that passed the General Assembly, banks in Rhode Island will not be able to evict renters in properties they’ve foreclosed on. That is, unless there’s just cause or until the property has been bought by a new owner. Rhode Island Coalition for the homeless head Jim Ryczek said the new law will protect people who might otherwise have nowhere to go.

“When the economy tanked in 2007-2008, the shelter system saw more than a 300 percent rise in the number of people coming in and naming eviction as one of the issues that caused them to be homeless.”

RI Housing Forced To Layoff 30 Employees

Aug 28, 2013

The state agency charged with helping people buy affordable homes is facing a financial crisis of its own.  Rhode Island Housing is laying off 30 people; 15 percent of its workforce.

Rhode Island Housing director Richard Godfrey says the reasons are twofold. There’s been a cutback in federal support and many of the 12,000 mortgages they have outstanding are delinquent.

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