That’s one option under consideration by a task force plotting New Haven’s response to the foreclosure crisis.
Three members of a mayoral task force offered a preview Tuesday of what they’re learning so far about the pending crisis, and what steps they’re considering suggesting to combat it.
Mayor John DeStefano appointed the task force to study the growing number of foreclosures in New Haven, sparked by a collapse of the so-called “subprime” market—loans to people with bad credit, often on terms that are exploitative and/or difficult to repay. He wants the task force to report back with a plan of action as the number of foreclosures is projected to hit a peak later in 2008.
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