Formerly foreclosed upon, newly renovated homes might sit vacant as a result of stricter credit standards following the foreclosure crisis. That's the concern reflected in a survey conducted by NeighborWorks at a recent meeting in Philadelphia.
Two dozen non-profit organizations representing $740 million in Neighborhood Stabilization Program funds were polled.
“The concern is real and it is across the board,” said Thomas Deyo, Deputy Director of National Initiatives and Applied Research at NeighborWorks America.