The Ripple Effect
Foreclosures cause collateral damage that extends far beyond the family unit. Some casualties include: Property values, tax revenues, the construction industry, employment rates and the long-term stability of the national economy.
This 4-page fact sheet hones in on one hot-button topic: Foreclosures. Readers will learn the issue’s highlights in fast succession, including why foreclosures are crippling America’s families and communities, how we ended up in a housing crisis, and what the Foundation is doing to ease foreclosure fallout while helping families avoid similar fates in the future.
The foreclosure crisis is a national issue that the Annie E. Casey Foundation is tackling at the local level. Current strategies include: 1. Enhancing mortgage counseling efforts; 2. Increasing utilization of federal funds aimed at stabilizing neighborhoods; 3. Promoting programs and policies that aid renters facing foreclosure; 4. Expanding legal assistance for homeowners; 5. Boosting the capacity for data-driven change.
One population the Foundation is determined to help? Renters. In 2009, about 1 in every 3 foreclosed homes was occupied by someone other than the owner. While their vulnerability is clear, families who rent have received the least support and attention during the foreclosure crisis.
We hope you'll find value in this report. We’d love to get a little information from you, which we'll use to notify you about relevant new resources.