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Using Neighborhood Data to Support Foreclosure Prevention and Intervention

Learn how neighborhood data can support foreclosure prevention and intervention efforts. This presentation explores the research and prevention initiatives in Chicago, focusing on tracking foreclosure filings and counseling data. Discover how analyzing this data can help housing counseling agencies make better decisions.

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Using Neighborhood Data to Support Foreclosure Prevention and Intervention

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  1. Using Neighborhood Data to Support Foreclosure Prevention and Intervention Urban Affairs Association – Annual Meeting March 7, 2009 MCIC (Metro Chicago Information Center) 17 N. State Street, Suite 1600 Chicago, IL 60602 www.mcic.org

  2. MCIC (Metro Chicago Information Center) Our purpose Nonprofit, independent research and consulting firm since 1990 Our philosophy Better information produces better decisions Focus on quality of life issues and human needs Helping those doing good…do better

  3. Research and Prevention in Chicago Regional Homeownership Preservation Initiative (RHOPI) • Collaboration between counseling agencies, planning entities, financial institutions, research organizations and other partners • Four working groups: • Homeowner/Homebuyer Counseling • Refinance and Financial Resources • Foreclosed Properties • Research. Source: Chicago Sun-Times, 3/3/09

  4. MCIC’s Foreclosure Research • focus on helping housing counseling • providers track their own prevention strategies • explore counseling data in the context of • foreclosure filings • research in ‘real time’ • MacArthur Foreclosure Prevention Initiative • Fannie Mae cross-site applied research with • Urban Institute and other NNIP partners

  5. Tracking Foreclosure Filings • Challenges with foreclosure data and methodological decisions: • What to do with multiple filings? • How can multiple research and housing organizations work from • the same data set for efficiency and accuracy?

  6. Tracking Counseling and Outreach Compiled reports provide housing counselors with an internal tracking system, and provide MacArthur with a new method investment evaluation Sample monthly report 20 reports compiled each month Data aggregated by community area

  7. Tracking Counseling and Outreach, continued A deeper look at individual counseling records of one MacArthur partner organization Data Source: Greater Southwest Development Corporation

  8. Putting it all together: What have we learned so far, and how can this research assist housing counseling agencies? • Tracking housing counseling and foreclosure filings on a broad basis will always be an estimate due to data availability and standardization issues • A meaningful and accurate method of quantifiying community organization techniques as a tool for foreclosure prevention is critical

  9. Putting it all together, continued 3. Even considering data challenges, monthly snapshots of foreclosure prevention, intervention and filings provide a way to start identifying community trends, and inform counselors of potential need gaps and outreach opportunities

  10. Putting it all together, continued • Analyzing individual counseling data allows for deeper exploration of these relationships - research that has both programmatic and policy implications for housing counseling agencies

  11. Anne P. Cole Community Development Consultant acole@mcic.org 312.580.2592 MCIC (Metro Chicago Information Center) 17 N. State Street, Suite 1600 Chicago, IL 60602 www.mcic.org

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