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by CareyBot

Editor's note: The following item is republished with permission of AOL Real Estate. See the original article: "Foreclosure Rehab: Ramping Up the Battle Against Blight." By Teke Wiggan The foreclosure crisis, which has caused around 4 million people to lose their homes, has wreaked havoc on many neighborhoods. Foreclosed homes drag down property values when they swell the housing supply and sell at below-market rates. These bank-owned homes also can erode the character of communities by attracting all manner of blight as they sit unoccupied.The foreclosure scourge is especially acute in minority neighborhoods, according to a recent report by the National Fair Housing Alliance, which found that banks take much better care of their foreclosed properties in predominant...