Philadelphia Fed offers virtual help to homeowners

The Philadelphia Federal Reserve has launched an online resource centre in a bid to help prevent foreclosures and lessen their negative influence on neighbourhoods.

Dede Myers, a community affairs officer at the Fed, described the centre as a "one-stop shop" for those looking to avoid foreclosures.

"This resource centre helps homeowners and community leaders learn what they need to know and take appropriate action," said Myers. "They can also access information from other trusted providers."