help families recover

When developing a comprehensive foreclosure prevention policy, communities should consider how to minimize the ultimate impact on owners and renters if foreclosure cannot be avoided. Many displaced families will need relocation assistance to move to new housing and avoid homelessness, and some will need more extensive social services.

Renters in foreclosed properties can be particularly vulnerable since they may have little warning of the foreclosure, face damage to their rental record, and be unaware of protections that help renters prevent eviction. Former owners may also need assistance straightening out their finances and repairing their credit histories. Several policy options are available to help both renters and owners recover if their home is lost due to foreclosure.

Listen to a conversation about the Protecting Tenants at Foreclosure Act with Catherine Bendor of the National Law Center on Homelessness and Poverty, Danna Fischer of the National Low Income Housing Coalition, and David Rammler of the National Housing Law Project. The speakers provide an overview of the legislation and answer questions from listeners. The speakers also responded to questions on the Forum. Click here to view the Forum discussion. Please note that since the time of this conversation the expiration date for PTFA has been extended to 2014.

Click on the links below to learn what communities can do to help renter and owner families recover after a foreclosure:

Westminster Place
Dealing with displacement

Protecting renters

Oak Grove
Rebuilding credit

Hastings Marketplace
Preventing displacement

Photo credits (top to bottom): Westminster Place, St. Louis MO - Courtesy of McCormack Baron Salazar; Pantages Apartments, Seattle WA - Photo by William Wright/William Wright Photography, courtesy of Seattle Office of Housing; Oak Grove Village, Jefferson NC - Photo by Todd Bush Photography, courtesy of Northwestern Housing Enterprises; Hastings Marketplace, Hastings MN -- Photo courtesy of LHB, Inc.