Four successful nonprofit programs that are helping mitigate foreclosures among low-income homeowners are examined in a new report by the UNC Center for Community Capital.
Community-based Interventions for Foreclosure Prevention and Mitigation captures knowledge gained from its evaluation of four nonprofit programs funded by the Genworth Foundation. The foundation aimed to complement large, federally funded foreclosure prevention programs by identifying smaller, locally focused programs that could be replicated to help stabilize hard-hit neighborhoods and keep families in their homes.
Center researchers conducted the evaluation and summarized key findings in the report. The four programs were led by: DHIC in Raleigh, N.C.; HomeFree-USA, a multi-state program based in Maryland; Housing Opportunities Made Equal of Virginia Inc. in Richmond, Va.; and North Carolina Institute of Minority Economic Development based in Durham, N.C.
The study report is available at www.ccc.unc.edu.
The UNC Center for Community Capital is the leading center for research and policy analysis on the transformative power of capital on households and communities in the United States. Part of the College of Arts and Sciences at the University of North Carolina at Chapel Hill, the center offers data and analysis that helps policymakers, advocates and the private sector find sustainable ways to expand economic opportunity to more people more effectively. For more information, visit www.ccc.unc.edu or call (919) 843-2140.
Topics(s): Affordable Homeownership, Default, Bankruptcy, & Foreclosure, Mortgage Finance