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‘There goes the neighborhood?’ How to mend nearby foreclosures.

What can you do about a blighted property in your neighborhood? You have a few options.

A foreclosure on your block can do more than spoil the view from your window. A foreclosed eyesore can damage the financial health of your household and neighborhood. But there are things you can do now to keep a blighted property from destroying your home equity.

Be a good neighbor.
Prevention makes the biggest difference, says Erynn Crowley, a deputy director of the Phoenix Neighborhood Services Department. If you know a neighbor is headed toward foreclosure, find out what you can do to help maintain the property if they move away. Many municipalities, like Phoenix, have developed resources to help neighborhoods and neighbors deal with the foreclosure crisis.

“We always encourage neighbors to talk to each other…”

Read original article at @msnrealestate.

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