Local Government Having Issues With Foreclosed Homes

Foreclosed, vacant and unattended homes can cause a lot of problems in your neighborhood and, local governments are having a hard time keeping up. The Government Accountability Office took a closer look at how different federal agencies can help state and local governments maintain vacant properties. The local municipalities say they need money and oversight from the federal government to keep up with local property maintenance codes. GAO says the Federal Reserve, Census, Office of Comptroller of the Currency, FHA and the Federal Housing Finance Agency can all play a role. Also, Treasury says the data in GAO's study can help the governments work together on solutions.