Post-Foreclosure Community Stabilization Strategies: Case Studies and Early Lessons 2008

In the midst of all the foreclosures sweeping the country, and the turmoil on Wall Street, nonprofit housing organizations are quietly going about the work of stabilizing communities hard hit by the crisis. Most have had frontline responsibility for counseling families threatened with foreclosure. With their assistance tens of thousands of families have restructured their budgets, negotiated with servicers to modify their loans, and saved their homes. Other families, too far along in the foreclosure process to stop it from happening, have received help transitioning to new housing arrangements.While the work with distressed homeowners must continue, nonprofits are feeling increased pressure to deal with the growing foreclosed housing stock. These units are causing incalculable harm to neighborhoods, and any hope of housing recovery must ensure that these units are swiftly put back into productive use or demolished. This collection of 14 case studies outlines strategies that nonprofit organizations across the country are using to begin the process of repairing damaged communities.The stakes are enormous. Vacant housing invites vandalism, and becomes a hub for gangs and crime. Virtually all case study subjects reported that, within weeks of housing becoming vacant, thieves break into the units and strip them of their valuable copper plumbing and wiring, heedless of any destruction they leave in their wake. In Phoenix a half-finished, abandoned subdivision was used as an informal "Home Depot" as other homeowners broke in and helped themselves to fixtures and appliances. In Cleveland, vandals remove not just the copper but the aluminum siding from vacant houses. In photos these houses have a desolate, post-disaster look, like the aftermath of a hurricane. When units get demolished the vacant lots soon sprout grass and trash, adding to the community's forlorn appearance.Vacant, deteriorated units place a downward pressure on housing values that puts nearby neighbors in a bind. In order to sell their units they will have to reduce the price, as no one will pay top dollar to live in a blighted neighborhood. Yet their ability to refinance into a more affordable mortgage may be compromised by the drop in property values; in some cases this leads to additional foreclosures and the downward cycle continues.Intervening in these troubled neighborhoods is challenging. In some markets housing prices are still falling, making it hard to determine the value of the units. Bank asset managers and servicers often lack detailed knowledge of the markets, or even of the units they have in their own inventory. This leads them to overvalue their properties and hold out for more than they are worth, delaying the process of acquiring and renovating them for resale to new homebuyers. Finally, the complex ownership structure of mortgages which were rolled into collateralized debt obligations and other investment vehicles makes it very difficult to establish who owns properties and who has authority to negotiate their sale.0

Nobody\u27s Home: Candid Reflections of a Nursing Home Aide

After caring for his mother at the end of her life, Thomas Edward Gass felt drawn to serve the elderly. He took a job as a nursing home aide but was not prepared for the reality that he found at his new place of employment, a for-profit long-term-care facility. In a book that is by turns chilling and graphic, poignant and funny, Gass describes America’s system of warehousing its oldest citizens. With Americans living longer than ever before, elder care is among the fastest growing occupations. This book makes clear that there is a systemic conflict between profit and extent of care. Instead of controlling costs and maximizing profits, what if long-term care focused on our basic need to lead meaningful and connected lives until our deaths? What if staff members dropped the feigned hope of forestalling the inevitable and concentrated on making their charges comfortable and respected? These and other questions raised by this powerful book will cause Americans to rethink how nursing homes are run, staffed, and financed—as well as the circumstances under which we hope to meet our end

Frontier Housing: Replacement Housing with "Manufactured Housing Done RightS"(TM)

This report is a case study of a scalable replacement program for substandard housing, particularly pre-1976 manufactured housing, developed by Frontier Housing, a member of the NeighborWorks(R) Network based in Morehead, Kentucky. Frontier Housing's Manufactured Housing Done Right(TM) model offers a real opportunity to improve living conditions, reduce energy consumption and protect the environment. Decades of debate have not found a more cost-effective alternative for providing single family homeownership for low-income people living in the vast rural areas of the country

Resident Purchase of the Champion Mobile Home Park

This is a case study of the first resident-owned community created outside of New Hampshire under the guidance of the ROC USA system, and featuring PathStone, a member of the NeighborWorks Network and a certified technical assistance provider (CTAP) for ROC USA

Giving new life to out-of-print books: when publishers’ and libraries’ interests meet

The Library of the Université Libre de Bruxelles and Editions de l’Université de Bruxelles (EUB), the University’s publishing imprint, have recently agreed to collaborate to provide free online access to recent out-of-print books published by EUB. The e-books are available on the Digithèque website, a collection of digital copies of printed books created by the Library. This initiative is valuable for the scientific community and the general public who can freely access the books online, for the authors whose books have been digitized and widely disseminated, and for the publisher whose collections become more visible on the Internet, thereby generating more traffic on its website and potentially increasing sales of its other books. Around 20 books have been made available online so far. This article describes the context of the agreement, how the collaboration operates, the options of file conversion vs. book scanning, issues relating to copyright and users’ rights, how access is provided to the digital copies, and future collaborative projects of the Library and EUB