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Community response to the foreclosure crisis: thoughts on local interventions

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  • Daniel Immergluck

Abstract

In the wake of the ongoing national mortgage crisis, preventing or mitigating foreclosures and facilitating recovery from the damage they cause have become tremendous challenges for community developers, policymakers, and a wide variety of other actors in cities and metropolitan areas. ; The purpose of this paper is to lay out the range of responses to the foreclosure crisis in which local organizations have been engaged in recent years. It is not intended to be a catalogue of best practices. Rather, it uses examples of strategies and programs only for illustrative, explanatory purposes. Moreover, there is no attempt made to evaluate the effectiveness or impact of any of these strategies or tactics. The primary purpose is to provide a scheme for thinking about local responses to the crisis and the actors and organizations involved.

Suggested Citation

  • Daniel Immergluck, 2008. "Community response to the foreclosure crisis: thoughts on local interventions," FRB Atlanta Community and Economic Development Discussion Paper 2008-01, Federal Reserve Bank of Atlanta.
    • Handle: RePEc:fip:fedacd:2008-01
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    File URL: https://www.frbatlanta.org/-/media/documents/community-development/publications/discussion-papers/2008/01-community-response-to-foreclosure-crisis-2008-10-10.pdf
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    References listed on IDEAS

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    1. Christopher L. Foote & Kristopher Gerardi & Lorenz Goette & Paul S. Willen, 2008. "Subprime facts: what (we think) we know about the subprime crisis and what we don’t," Public Policy Discussion Paper 08-2, Federal Reserve Bank of Boston.
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    Cited by:

    1. J. Rosie Tighe, 2013. "Responding to the Foreclosure Crisis in Appalachia: A Policy Review and Survey of Housing Counselors," Housing Policy Debate, Taylor & Francis Journals, vol. 23(1), pages 111-143, January.
    2. Indro Ray & Subhrajit Guhathakurta, 2015. "The Impact of Housing Submarkets and Urban Form on the Foreclosure Crisis in U.S. Urban Counties," Housing Policy Debate, Taylor & Francis Journals, vol. 25(3), pages 549-573, July.
    3. Dan Immergluck, 2010. "The accumulation of lender-owned homes during the US mortgage crisis: examining metropolitan REO inventories," Housing Policy Debate, Taylor & Francis Journals, vol. 20(4), pages 619-645, September.
    4. Rachel G. Bratt, 2017. "Post-Foreclosure Conveyance of Occupied Homes and Preferential Sales to Nonprofits: Rationales, Policies, and Underlying Conflicts," Housing Policy Debate, Taylor & Francis Journals, vol. 27(1), pages 28-59, January.

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