1 / 3

RESILIENCE IN THE FACE OF FORECLOSURES

RESILIENCE IN THE FACE OF FORECLOSURES. Key Lessons Learned While foreclosures are peaking they will not go away Leadership by all sectors, especially local government is critical in addressing the foreclosure crisis A Strategic/Tactical Approach will be of value

jela
Download Presentation

RESILIENCE IN THE FACE OF FORECLOSURES

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. RESILIENCE IN THE FACE OF FORECLOSURES • Key Lessons Learned • While foreclosures are peaking they will not go away • Leadership by all sectors, especially local government is critical in addressing the foreclosure crisis • A Strategic/Tactical Approach will be of value • Partnerships with all stakeholders are vital

  2. CAUSES OF FORECLOSURES • Loss of Employment • Health Challenges/Injuries • Divorce • Death of a Spouse • Underwater Mortgages • Unfavorable Mortgage terms • Predatory loans • Unaffordable interest rate spikes

  3. KEY TAKE-AWAYS • City leaders, community development organizations, and policy makers need to act quickly and aggressively to address foreclosures in order to avoid what can become a long-term spiral of devastation that can ruin a community or neighborhoods for generations. • Pre and post purchase counseling are essential to minimizing foreclosures.

More Related