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Providence tallying houses lost to foreclosure crisis

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May 25, 2008

PROVIDENCE, R.I.—Inspectors are combing through Providence street by street trying to get a better idea of the scope of the foreclosure crisis.

From January 2006 through the end of April, there have been more than 1,500 foreclosures in the city, inspectors told the Providence Journal.

The city's trying to get a better picture of what that means in neighborhoods were former owners have been forced from their homes -- or simply packed up because they could no longer afford payments.

Mayor David Cicilline also hopes to use the tally to push for an "abandoned property penalty" on property owners, including banks and financial institutions, that allow houses to remain empty.

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Information from: The Providence Journal, http://www.projo.com/

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