Federal Reserve Bank of San Francisco

Community Development

Innovative Strategies for Mitigating the Foreclosure Crisis and Stabilizing Communities

Author(s):

February 2014

Community Development Investment Review

The foreclosure crisis has been devastating to neighborhoods. Homes have been abandoned and fallen into disrepair, families have been displaced, and community anchors have been uprooted. The numbers are staggering. Since the crisis began in September 2008, approximately 4.5 million homes have been foreclosed, with roughly 2.1 million homes still in serious delinquency as of August 2013. Throughout, high-capacity, entrepreneurial nonprofit organizations have developed innovative solutions to stem the tide of foreclosures and stabilize affected communities.

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