NeighborWorks America, a national nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts, has formed a new partnership with the Federal Reserve designed to help provide assistance to local communities nationwide who are trying to assess housing conditions in their areas, and assist local governments and non-profit organizations in their efforts to address the increase in foreclosures.

“We are excited by the opportunity this collaboration represents,” said Ken Wade, CEO of NeighborWorks® America. “Working together with the Federal Reserve to better understand the impact of foreclosures on communities and to enhance the ability of local residents mitigate this crisis is an important step toward stabilizing the housing market.”