New Director for New Foreclosure Prevention Office in Detroit, Michigan

Stephen Bancroft has been hired by the Detroit Economic Growth Association as the executive director of the recently formed Foreclosure prevention and Response Office at Detroit, set up as a guard against the growing monster of escalating credit crunch on real estate properties and loans. It’s hoped that this move will slow down the growth of the number of Detroit foreclosure homes.

A former president of Commonwealth Holdings L.L.C. (a real estate counseling company based in St. Louis) and a former dean of the St. Paul Cathedral Church located in Detroit, apart from being a retired Episcopal minister, Bancroft had associated himself with lot of commercial projects such as building independent family homes refurbishment of a housing complex.

It is interesting to know that the new office is a conglomerate of Officers from Detroit, DEGA, banks and local institutions to formulate various methods of combating the increasing Detroit foreclosure homes.

The office plans to implement new strategies within a month or two after Bancroft’s appointment, according to Walt Watkins, the senior adviser. Walt Watkins, who was appointed as an interim director, hopes to decrease the rising crisis of Detroit foreclosure homes.

The DEGA has also reported to hire Alesa Carr and Diane McCloskey to help in the process of stemming the growth of Detroit foreclosure homes.

Alesa Carr has a good amount of experience in the industry as she has been a staff attorney with For Motor Credit Co. in the Real Estate and Commercial Division. He basic job in the new office would be to research and devise new plans and initiatives. She will keep a close watch on legal proceedings at the state and even at the federal level. She would be giving her recommendations for the plan of action by the new office.

Likewise, it is expected of Diane McCloskey to manage correspondences and contributions by local people for the development of the new office. Diane McCloskey has over 28 years of experience with both profit-oriented and non-profit institutions in communication, training, evaluation, advocacy and resource development, apart from having handled the office as Director of The Heat and Warmth Fund’s community projects.

With this string of credentials-backed appointments, the grim situation of Detroit foreclosure homes is sure to get a positive boost.

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