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Issue Statement
The housing finance system has undergone changes in recent years that helped to foster a record rate of homeownership. Unfortunately, federal regulation to protect the interests of homeowners in the mortgage process failed to keep pace with the market. As a result, millions of families are losing and could lose their homes to foreclosure. Cities, in turn, are being forced to maintain housing now vacant due to foreclosures; losing property tax revenues due to declining home values; and incurring higher issuance costs for municipal bonds to fund worthy public projects due to the effects the subprime crisis is having on the broader financial markets.
The National League of Cities focuses on solutions to the crisis in the mortgage finance system. On behalf of cities, towns and villages, NLC is advocating before Congress, sharing best practices among municipal leaders, presenting educational programs, and publishing materials that can help local officials manage this issue.
Resources | Solutions for Working Families| City Practices | Research & Surveys
Legislative Advocacy | Action Kit| General News
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Resources
Institutions, publications and strategies that offer information or assistance to mitigate the home foreclosure crisis
Solutions for Working Families: Conference Materials
Over 400 state and local leaders from around nation participated in Solutions for Working Families: 2009 Learning Conference on State and Local Housing Policy, June 28-30, 2009 in Chicago. Conference materials are now available here!
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City Practices: Solutions being carried out by city leaders summarized in a City Practices Brief written by NLC
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Research & Surveys: Quantitative and qualitative studies and surveys conducted by NLC
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Legislative Advocacy: Policy briefs, white papers, testimony, and critiques of legislative proposals
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Action Kit on Helping Families Achieve Financial Stability
Produced by NLC’s Institute for Youth Education and Families (IYEF), this multifaceted tool includes sections on homeownership, family income security, and asset building
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General News
Information from journals, newspapers and independent reports which explain the issue, help identify potential implications, and point the way toward solutions.
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