PROVIDENCE – Statistics released by the City of Providence on Monday showed foreclosures in the capital city more than doubled last year, jumping to 1,577 from 718 in 2007.
In response, Mayor David N. Cicilline introduced two ordinances – one to curb the effects of foreclosures and the other to require mediation between lenders and property owners before a property is foreclosed.
“We’ve worked hard over the past six years to strengthen our neighborhoods, bring in new investment and encourage homeownership,” Cicilline said at a press conference. “Unfortunately, this foreclosure crisis is having a devastating impact on our neighborhoods, pushing too many families to the brink of homelessness.”
A video of Cicilline’s press conference can be found at www.youtube.com.
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