Community Response to the Foreclosure Crisis: Thoughts on Local Interventions

This Fall 2008 paper by Dan Immergluck provides a basic approach that local governments, nonprofits and others can use to think through their responses to the foreclosure crisis. In addition to profiling the various responses available at the local level, Immergluck provides a basic classification of local responses to the foreclosure crisis and indicates the sorts of responses appropriate for different types of organizations within the respond nonprofit, public, and private sector.

Local responses to Foreclosure Crisis are classified in the following ways:

• Foreclosure Prevention
  • Outreach, Counseling and Obtaining Loan Modifications
• Mitigating Community Impacts and Recovery
  • Short-term Mitigation and Containment of Spillover Problem
  • Property Reclamation and Recovery
  • Household Recovery

Immergluck examines the work of the following sectors and types of organizations:

• Nonprofit Sector
  • Community Development Organizations (CDCs, CDFIs)
  • Community Organizing Groups
  • Policy/consumer/fair housing/tenant advocates
  • Credit Counseling Services
  • Legal Aid
• Public Sector
  • Local Government
  • Regional Planning or Municipal Associations
  • State Government
  • HUD
  • Federal Reserve Bank or other regulators
• Private Sector
  • Banks/lenders/servicers/developers
• Cross-Sectoral Collaborations
  • Coalitions, taskforces, etc.

Download this report. 

More on the work of Dan Immergluck.