Foreclosure resourceS

Get more information about:
Organizations doing work on the community impacts of foreclosure
Organizations doing work on foreclosure prevention
Research and publications
News articles

ORGANIZATIONS: COMMUNITY IMPACTS OF FORECLOSURE

Center for American Progress
CAP provides links to news articles, reports, and policy statements/analysis. CAP, with Enterprise Community Partners, is also the joint developer of a proposal for a Neighborhood Stabilization Fund.

Center for Responsible Lending
CRL tracks major legislation related to foreclosure, posts relevant news headlines, provides resources for consumers, and offers state-by-state analyses of subprime loan and foreclosure trends and impacts.

National League of Cities
The NLC web site provides a variety of resources for localities, including relevant research and surveys conducted by NLC, newspaper articles, and information about how localities are coping with foreclosures.

Progressive State Network
The Progressive State Network maintains a resource list for dealing with foreclosures at the state level, including policy options, state responses, newspaper articles, and organizations working on foreclosure issues.

The Reinvestment Fund
The Reinvestment Fund's "Policy Publications" and "Staff Writings" sections contain analyses of foreclosure trends in Maryland, Pennsylvania, and Delaware.

United States Conference of Mayors
Many of the articles in the U.S. Conference of Mayors' “Mayors in the Media” section are related to the impacts of foreclosures on municipalities. The Conference of Mayors also published U.S. Metro Economies: The Mortgage Crisis in November.

Woodstock Institute
The Woodstock Institute is a Chicago-based policy and advocacy nonprofit that works locally, nationally, and internationally to promote community reinvestment and economic development in lower-income and minority communities. Publications include Paying More for the American Dream – The Subprime Shakeout and Its Impact on Lower-Income and Minority Communities. The Institute also maintains an extensive list of foreclosure-related news articles.

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ORGANIZATIONS: FORECLOSURE PREVENTION

AARP
AARP provides information to consumers to help them avoid lease/buyback scams and predatory loans, and learn about bankruptcy and foreclosure counseling.

ACORN
ACORN runs a housing counseling program focused on foreclosure resolution, Home Equity Loss Prevention Program (HELP). It provides a hotline for consumers and has established relationships with specific lenders around foreclosure resolution. ACORN’s web site also provides some information about predatory lending for consumers.

Federal Trade Commission
The FTC provides information to consumers facing foreclosure, including a list of foreclosure prevention options/terms and how to prepare for a conversation with a loan servicer.

Freddie Mac
Freddie Mac provides information to consumers about foreclosure – the process, early steps to avoid foreclosure, and where to get help.

Homeownership Preservation Foundation
HPN maintains the 888-995-HOPE counseling hotline, and is a partner in the HOPE NOW Alliance. HPN also publishes relevant reports (e.g., Collateral Damage: The Municipal Impact of Today’s Mortgage Foreclosure Boom by W. Apgar and M. Duda).

HOPE NOW
HOPE NOW is a cooperative effort between counselors, investors, and lenders to maximize outreach efforts to homeowners in distress through a national foreclosure hotline, direct mail campaign, capacity building, etc.

League of California Cities
The League of California Cities maintains a small clearinghouse of information on the subprime mortgage crisis including links to local, state, and federal resources.

NeighborWorks America
NeighborWorks has a variety of resources focused on counseling and/or intervention at the borrower level, as well as a listing of news items (mostly federal policy initiatives) and some relevant research and reports.

Stop Foreclosure Resource Center
The Resource Center provides homeowners seeking to avoid foreclosure with information about bankruptcy, counseling, scams, etc.

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RESOURCES: RESEARCH AND PUBLICATIONS

Addressing Foreclosures: A Great American Dream Neighborhood Stabilization Plan
By David M. Abromowitz
Published by the Center for American Progress

Collateral Damage: The Municipal Impact of Today’s Mortgage Foreclosure Boom (246kb PDF)
By William C. Apgar and Mark Duda
Published by the Homeownership Preservation Foundation

Dynamic Maps of Nonprime Mortgage Conditions in the United States
By the Federal Reserve Bank of New York

Foreclosure and Beyond: A Report on Ownership and Housing Prices Following Sheriff’s Sales, Cleveland and Cuyahoga County, Ohio, 2000-2007
By Claudia Coulton, Kristen Mikelbank and Michael Schramm
Published by the Center on Urban Poverty and Community Development at the Mandel School of Applied Social Sciences at Case Western Reserve University

Foreclosure Exposure: A Study of the Racial and Income Disparities in Home Mortgage Lending in 172 American Cities (477kb PDF)
By ACORN Fair Housing

From Boom to Bust: Helping Families Prepare for the Rise in Subprime Mortgage Foreclosures
By Almas Sayeed
Published by the Center for American Progress

Paying More for the American Dream – The Subprime Shakeout and Its Impact on Lower-Income and Minority Communities (4.54mb PDF)
Published by the Woodstock Institute

The End of the Great American Housing Boom: What It Means for You, Me, and the U.S. Economy
By Christian E. Weller
Published by the Center for American Progress

The External Costs of Foreclosure: The Impact of Single-Family Mortgage Foreclosures on Property Values (281kb PDF)
By Dan Immergluck and Geoff Smith
Published by the Fannie Mae Foundation

The Subprime Lending Crisis: The Economic Impact on Wealth, Property Values and Tax Revenues and How We Got Here
By the U.S. Congress Joint Economic Committee (Democrats)

There Goes the Neighborhood: The Effect of Single-Family Mortgage Foreclosures on Property Values
By Dan Immergluck and Geoff Smith
Published by the Woodstock Institute

U.S. Metro Economies: The Mortgage Crisis (618kb PDF)
By the The United States Conference of Mayors and The Council for the New American City

Will “Streamlining” the Mortgage Foreclosure Process Reduce Vacancy and Abandonment? (Working Paper)
By Dan Immergluck
Published by the Lincoln Institute of Land Policy

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RESOURCES: IN THE NEWS

HUD stops Ohio communities from buying, selling foreclosed homes
cleveland.com, 4/10/08

St. Paul looks hard at fallout of foreclosure
startribune.com, 4/9/08

Foreclosures up, but help is available
swcbulletin.com, 4/2/08

Housing rescue: What you need to know
cnnmoney.com, 4/1/08

Rundown Houston homes caught in red tape
khou.com, 4/1/08

As owners default, lenders move in
chicagotribune.com, 3/31/08

Haverhill law would require banks to register foreclosed buildings with city
eagletribune.com, 3/31/08

Cities grapple with surge in abandoned homes
news.yahoo.com, 3/24/08

Businesses that care for vacant homes thriving
npr.org, 3/21/08

Foreclosed and forgotten
boston.com, 3/16/08

Renewed neighborhoods may be back on the brink
cqpolitics.com, 3/10/08

Foreclosure study says vacant properties cost Cleveland $35+ million
cleveland.com, 2/19/08

Not on his watch
latimes.com, 2/17/08

BLIGHT: Schumer takes aim at HUD
niagara-gazette.com, 2/11/08

Housing proposal: Repair, resell, revive
indystar.com, 2/9/08

As houses empty, cities seek ways to fill the void
realestatejournal.com, 2/8/08

Foreclosures leave renters in the lurch
sfgate.com, 2/7/08

As foreclosures rise, mayors brace for fallout
online.wsj.com, 1/28/08

Foreclosures prompt cities to make plea for aid
nytimes.com, 1/24/08

A foreclosure-free option
boston.com, 1/23/08

Shelter from foreclosures
boston.com, 1/21/08

Dirty deeds
businessweek.com, 1/3/08

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