vacant properties

New initiatives keep families in their homes through foreclosure and beyond

Keeping families in their homes during and after the foreclosure process mitigates the negative impact of vacant properties on communities, reduces lenders’ costs in securing and maintaining properties, and provides stability for families as they figure out the next stage of their lives. A number of promising public, private, and nonprofit models are being tried throughout the country to stabilize communities by keeping families in their homes.

Chicago's communities of color face slower recovery from foreclosure crisis

As preliminary signs of stabilization in the housing market begin to appear, there are clear indicators that African American communities will have to address the negative effects of foreclosure, such as property value declines and increases in violent crime, far longer than predominantly white communities.

 

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