In addition, we are studying the Neighborhood Stabilization Program and interviewing some 50 program grantees nationwide to learn about the early successes and challenges to this effort to restore health to communities with high foreclosure rates. We continue to engage in a good deal of outreach to stay informed about the challenges facing communities as this crisis evolves.
Federal Reserve staff recently attended a series of meetings organized by National People's Action (NPA). These meetings, held in nine cities chosen by NPA, were designed to gather first-hand information about the impact of foreclosures in low-income communities. In each city, Fed staff met with local leaders, toured communities hit by foreclosures, and attended public meetings.