Menu of Strategies

Reclaiming foreclosed properties involves three general stages: 1) acquisition, gaining legal control of the property; 2) disposition, transferring it to a responsible owner or manager to ensure it is then used for a community benefit, such as a neighborhood park or affordable rental housing; and 3) stewardship, developing systems and tenures that safeguard the long-term affordability, quality, and security of homes. This section presents strategies that can be used for each of these stages.

Each of these stages is taken up in turn in the next three sections. The Choosing Strategies section describes the most effective strategies based on the type of neighborhood housing market in which you are working.