Foreclosure Research - Research

This is an image of keys over a blueprint for a house
July 7, 2016

This report summarizes some of the successes of the work of the organizations that participated in the Regional Housing Partnership (RHP), which was supported by the Chicago Community Trust.

This is the title page of the report, it contains an image of a court room gavel.
June 2, 2016

This report examines the development, implementation, and modification of the Circuit Court of Cook County Mortgage Foreclosure Mediation Program as it related to the court process for handling foreclosure cases to learn lessons that may be applied to address the negative impacts of the next crisis.

December 2, 2015

Presented by Spencer Cowan at the South Side Builders Association

September 3, 2014
Aggregated by community area, ward, suburban region, and municipality, Woodstock's first half of 2013 through first half of 2014 foreclosure update offers community stakeholders the information they need to understand the scope of the problem and measure the success of their
February 6, 2014

This fact sheet summarizes the Unresolved Foreclosures: Patterns of Zombie Properties in Cook County report, which examines the extent to which mortgage servicers are filing for foreclosure and then not pursuing the case to resolution in different types of communities in Cook County, Illinois. The report defines a zombie property as a property with a foreclosure filing that has not been resolved for more than three years. Because neither the borrower nor the servicer has clear control of the property, neither has an incentive to assume responsibility for the property. Zombie properties, therefore, are likely to threaten neighborhood stability by being poorly maintained or blighted, especially in lower-income neighborhoods, The report concludes with recommendations to reduce the negative impact of zombie properties on communities in Cook County.

January 24, 2014
This report examines the extent to which servicers are walking away from foreclosures in Cook County, Illinois, creating zombie properties, and how that practice may vary by the characteristics of the neighborhood in which the property is located.
May 13, 2013
Presentation by Spencer Cowan on real estate trends on indicators such as foreclosures, vacant properties, population, and mortgage origination.
May 5, 2013
Woodstock President Dory Rand presented to the KAM Isaiah Israel on causes of inequality in housing, financial services, and retirement security, trends in home equity and outstanding mortgage debt, and how communities of color and low-income families have been particularly hit hard by these...
September 20, 2012
Presentation for the 2012 CFED National Conference. Spencer Cowan presented on foreclosures in the Chicago region, the impacts of negative equity, inherent risks of mortgage finance, and disparate impact on communities of color.
First Half 2012 Foreclosures
August 13, 2012
Aggregated by community area, ward, suburban region, and municipality, Woodstock's first half 2012 foreclosure update offers community stakeholders the information they need to understand the scope of the problem and measure the success of their efforts. press release & audio briefing
June 26, 2012
Presented by Woodstock president Dory Rand to the Metropolitan Housing Coalition in Louisville, KY. Covers the effect of the housing crisis on Chicago's communities of color and solutions to the resulting challenges.
Scattered Site Rental Discussion
June 20, 2012

This white paper compiles the lessons from a discussion on scattered site rental strategies convened by the Chicago Community Trust and the Regional Home Ownership Preservation Initiative.

Tags: foreclosures
Struggling to Stay Afloat
March 22, 2012

This fact sheet highlights findings and recommendations from "Struggling to Stay Afloat: Negative Equity in Communities of Color in the Chicago Six County Region." It finds that negative equity is disproportionately concentrated in the Chicago region’s African American, Latino, and majority minority neighborhoods, and that borrowers in communities of color have much lower equity than do borrowers in predominantly white communities.

Struggling to Stay Afloat
March 22, 2012
The following analysis examines patterns of negative equity in communities of different racial and ethnic compositions in the Chicago six county region. It combines 2011 data on negative equity in Chicago region ZIP codes with U.S. Census data on the racial/ethnic composition of ZIP Code Tabulation Areas (ZCTA).
Troubled Foreclosed Properties
March 24, 2011
Findings and recommendations from a February 2011 briefing at which Woodstock Institute convened a group of key stakeholders at the Federal Reserve Bank of Chicago to discuss solutions that would keep properties occupied, hold mortgage loan servicers accountable for their disposition of properties in the foreclosure process, and return vacant properties back to productive use.
January 12, 2011
The following report illustrates the relationship between foreclosures and vacant properties in the City of Chicago. It combines data from the City of Chicago on vacant and potentially vacant buildings with data on foreclosure filings, completed foreclosure auctions, and property transfers to better understand the number of vacant properties that have at some point been part of the foreclosure process.
March 3, 2008
Geoff Smith Foreclosures spiked in the last quarter of 2007 nearly every community in the Chicago region, based on forecosure filings analyzed by Woodstock Institute. This report also found that foreclosure filings have increased in suburban areas that have not traditionally been associated with...
March 26, 2007
Geoff Smith    An analysis by Woodstock Institute of Chicago area foreclosures show that foreclosure filings in the region grew at an alarming rate in 2006 and have reached their highest point in recent memory.
June 14, 2005
Daniel Immergluck and Geoff Smith This report shows that foreclosures have a significant negative effect on neighborhood property values. Although foreclosures have long been considered a problem associated with FHA loan programs, recent research has shown that the explosion in foreclosures that...
April 7, 2005
Dan Immergluck, Grand Valley State University Geoff Smith, Woodstock Institute Examines the impact of foreclosures of single-family mortgages – both conventional and government guaranteed – on levels of violent and property crime at the neighborhood level.
March 9, 2004
Dan Immergluck and Geoff Smith Illustrates the quantitative relationship between the level of subprime lending in a neighborhood and foreclosure levels in a subsequent period, while controlling for changes in economic and demographic characteristics that might also effect foreclosure rates.
November 15, 1999
Daniel Immergluck and Marti Wiles This report analyzes home refinance lending in the Chicago area and documents the extreme segmentation of mortgage markets by race and neighborhood. In the last few years, mortgage lending abuses - often called predatory lending - have become an increasingly...