Foreclosure Prevention

Owning a home is the primary means by which low-income Americans build long-term assets and increase family wealth. In recognition of those benefits, federal policy has encouraged low-income homeownership, which has climbed to 46 percent. Yet for all of its benefits, maintaining a home over the long term presents special challenges, especially for families with low or unstable incomes, little savings, minimal experience with mainstream financial institutions, or a home in need of extensive repairs. Foreclosure prevention strategies are vital to sustaining homeownership for low-income families.

NCLC Special Reports and Press Releases

Testimony on Foreclosure Rescue/Loan Modification Scams, May 13, 2009 PDF 1MB
Letter to Treasury Secretary Geithner and National Economic Council Director Summers regarding loan modification program, March 25, 2009 PDF 83KB
Testimony: Mortgage Lending Reform: A Comprehensive Review of the Current Mortgage System, March 11, 2009 PDF 198KB
Press Release: FORECLOSING A DREAM - State Laws Deprive Homeowners of Basic Protections Report, February 2009 PDF 538 KB
Survey of State Foreclosure Laws PDF 336 KB
Coalition Letters to House and Senate on TARP and Foreclosure Prevention Legislation, January 13, 2009 PDF 29KB
Letter re Section 102 of the Emergency Economic Stabilization Act of 2008, October 28, 2008 PDF 22KB
Letter to Congress on Public Interest/Main Street Principles To Guide the Wall Street Rescue, September 24, 2008 PDF 93KB
Letter in support of allowing loan modifications through bankruptcy in bank rescue bill, September 22, 2008 PDF 21KB
NCLC Testimony on the Implementation of the HOPE for Homeowners Program and a Review of Foreclosure Mitigation Efforts, September 17, 2008 PDF 171KB
Civil Rights and Consumer Groups Respond to Takeover of Fannie Mae and Freddie Mac, September 15, 2008 PDF 418KB
New NCLC Model State Foreclosure Rescue Scam Statute (MS Word)
Overview Memo PDF 36KB
Testimony before House Financial Services Committee regarding on Accelerating Loan Modifications, Improving Foreclosure Prevention, and Enhancing Enforcement, December 6, 2007 PDF 73KB
Testimony before the Subcommittee on Housing and Community Opportunity regarding Foreclosure Prevention and Intervention: The Importance of Loss Mitigation Strategies in Keeping Families in Their Homes, November 30, 2007 PDF 232KB
Report: Dreams Foreclosed: The Rampant Theft of Americans' Homes Through Equity-Stripping Foreclosure 'Rescue' Scams, May 2005 PDF (4.7MB)
Press Release PDF (35KB)