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
- NCLC and NACA Survey Showing Foreclosure Sales Occuring in Violation of HAMP, January 20, 2010
- Coalition Letter to White House on Foreclosure Policy, January 12, 2010
- Home Affordable Modification Program: Borrower Notices Fall Short, November 16, 2009
- Homeowners Need Mandatory Loan Modifications and Expanded Access to Mediation; Current Programs Fall Short, September 11, 2009
- Testimony of Alys Cohen before Subcommittee on Housing: Progress of the Making Home Affordable Program: What Are the Outcomes for Homeowners and What are the Obstacles to Success, September 9, 2009
- Testimony of John Rao before Senate Judiciary Subcommittee: Mortgage Modifications During the Foreclosure Crisis: Is There a Role for Bankruptcy Courts?, August 20, 2009
- Testimony: The Worsening Foreclosure Crisis: Is It Time to Reconsider Bankruptcy Reform, July 23, 2009
- Testimony of Diane Thompson before the Senate Committee on Banking, Housing & Urban Affairs: Preserving Homeownership: Progress Needed to Prevent Foreclosures, July 16, 2009
- Comments of NCLC and others to FTC regarding Advance Notice of Proposed Rulemaking: Mortgage Assistance Relief Services, July 15, 2009. NCLC's prior Sample Comments.
- Report and Press Release: Desperate Homeowners: Loan Mod Scammers Step in When Loan Servicers Refuse to Provide Relief, July 10, 2009
- NCLC's Home Affordable Modification Program Recommendations, July 6, 2009
- Testimony on Foreclosure Rescue/Loan Modification Scams, May 13, 2009
- Letter to Treasury Secretary Geithner and National Economic Council Director Summers regarding loan modification program, March 25, 2009
- Testimony: Mortgage Lending Reform: A Comprehensive Review of the Current Mortgage System, March 11, 2009
- Press Release: FORECLOSING A DREAM - State Laws Deprive Homeowners of Basic Protections Report, February 2009
Survey of State Foreclosure Laws
- Coalition Letters to House and Senate on TARP and Foreclosure Prevention Legislation, January 13, 2009
- Letter re Section 102 of the Emergency Economic Stabilization Act of 2008, October 28, 2008
- Letter to Congress on Public Interest/Main Street Principles To Guide the Wall Street Rescue, September 24, 2008
- Letter in support of allowing loan modifications through bankruptcy in bank rescue bill, September 22, 2008
- NCLC Testimony on the Implementation of the HOPE for Homeowners Program and a Review of Foreclosure Mitigation Efforts, September 17, 2008
- Civil Rights and Consumer Groups Respond to Takeover of Fannie Mae and Freddie Mac, September 15, 2008
- New NCLC Model State Foreclosure Rescue Scam Statute
Overview Memo
- Testimony before House Financial Services Committee regarding on Accelerating Loan Modifications, Improving Foreclosure Prevention, and Enhancing Enforcement, December 6, 2007
- 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
- Report: Dreams Foreclosed: The Rampant Theft of Americans' Homes Through Equity-Stripping Foreclosure 'Rescue' Scams, May 2005
Press Release
Background Information and Resources
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NCLC Resources
Foreclosures (2d ed. 2007 and Supp.)
Foreclosure Prevention Counseling (2d ed. 2009)
NCLC Reports
Debt Collection and Foreclosures
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