Friday, December 4, 2009

Another Look at Foreclosure Mediation Programs

New from the Urban Institute, "the National Foreclosure Mitigation Counseling (NFMC) program is a special federal appropriation, administered by NeighborWorks® America, that is designed to support a rapid expansion of foreclosure intervention counseling in response to the nationwide foreclosure crisis. Loan modifications received by NFMC clients resulted in significantly lower mortgage payments than would have been received without the help of the program. ... [A preliminary] analysis of the NFMC program suggests that the program is having its intended effect of helping homeowners facing loss of their homes through foreclosure". For policies to reduce home foreclosures.

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