Tuesday, January 4, 2011

CSU Clinic Helps Rescue Distressed Houses

News from Kermit Lind at Cleveland State:

An Associated Press story on how nonprofits are collaborating with banks to rescue distressed houses for productive use and owner-occupancy shows what the UDLC's clients are doing in Cleveland.  Nonprofits of various types all around the country are finding ways to make deals with banks to acquire houses before the market of absentee investors and speculators can abuse them. 

The Detroit Shoreway Community Development Organization rescued more than 72 houses on Cleveland's west side.  It and other neighborhood-based nonprofit clients of the UDLC have been leaders in this effort for several years.   The nonprofit Cuyahoga County Land Reutilization Corporation is raising the capacity for recycling housing all over the county.  

Students in clinical practice are providing legal services to facilitate these transactions and the rehabilitation work.  They also participate in the development and advocacy of public policies and programs needed to stem the tide of abandonment and nuisance conditions that threaten the beneficial results of the good work described in the news report.  

Here is a link to the report

Thanks for the update, Kermit!

Jamie Baker Roskie


Housing, Land Trust, Property, Real Estate Transactions, Teaching | Permalink

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I have been doing vacation and annual rentals for many years. This specialization now comprises 30% of my business

Posted by: distressed property | Jan 17, 2011 9:03:40 PM

Me too, I thought this will give another value for everyone.

Land in Texas

Posted by: Land in Texas | Jan 23, 2011 3:53:02 PM