How Modern Land Banking Can Be Used to Solve REO Acquisition Problems

6 Pages Posted: 5 May 2011

Date Written: May 3, 2010

Abstract

Modern land banks hold great promise as a dynamic community development tool that can help shrinking cities and local nonprofits overcome the two biggest challenges they face when trying to acquire REO property: interest in only a small number of properties and a lack of funding for acquisition. Practice provides us with a powerful example of their successes. As regions struggle to control their inventories of vacant, abandoned, or REO properties, they would be remiss not to consider the innovative modern land banking approach that is currently being employed in states like Ohio.

Keywords: Land Bank, REO

JEL Classification: R51, R52

Suggested Citation

Fitzpatrick, Thomas James, How Modern Land Banking Can Be Used to Solve REO Acquisition Problems (May 3, 2010). Available at SSRN: https://ssrn.com/abstract=1830496 or http://dx.doi.org/10.2139/ssrn.1830496

Thomas James Fitzpatrick (Contact Author)

Federal Reserve Bank of Cleveland ( email )

PO Box 6387
Cleveland, OH 44101-1387
United States

Do you have negative results from your research you’d like to share?

Paper statistics

Downloads
177
Abstract Views
1,655
Rank
306,387
PlumX Metrics