Virginia Foreclosure Task Force
Foreclosures are a critical issue and Virginia needs to stay abreast of the foreclosure situation across the Commonwealth. The initial wave of foreclosures was primarily related to subprime and adjustable rate mortgage lending. However, now the major contributor to foreclosures is unemployment. Governor McDonnell’s Administration is focusing on unemployment through the work of his Jobs Commission.
Housing is also a priority for Governor McDonnell. On April 30, 2010, he issued Executive Order Number 10 outlining the need for a clear and consistent housing policy. Governor McDonnell’s initiative is the first Executive Branch effort to craft a comprehensive, state-level housing policy in Virginia.
As part of this initiative, Terrie Suit, the Governor’s Assistant for Commonwealth Preparedness, was tasked to chair the Virginia Foreclosure Task Force. The task force serves as an advisory group to the Governor, and its findings and results will help inform the work of the Governor’s Housing Policy Initiative. Its charge will be broader than that of the task force created during the previous administration, which was focused primarily on prevention.
The Task Force is composed of a broad range of business partners and housing stakeholders. List of Task Force members
Task Force Meetings
May 29, 2013