About Us

 
Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative
 
 
Mission
The Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative will work to create measurable outcomes for individuals and neighborhoods impacted by the foreclosure crisis in Wayne, Oakland, Macomb and Washtenaw counties by collaborating to avoid duplication of effort and maximize resources and impact.
 

 
Homeowners across Southeast Michigan are losing their homes to foreclosure at an alarming rate. Not only are individuals suffering, neighborhoods are struggling to deal with the increasing number of abandoned homes and the resulting decrease in property values and increase in crime. In August 2008, 40 organizations came together to discuss how they could work together at a regional level to prevent foreclosures, assist homeowners at every stage of the foreclosure cycle, and provide an infrastructure to help stabilize neighborhoods. The outcome was the formation of the Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative.

 

Here’s What Can Be Done to Help:

  • Assist homeowners at every stage of the foreclosure crisis.
  • Reach out to homeowners earlier in the cycle, where a bigger impact can be made.
  • Provide consumer education in an effort to prevent foreclosure.
  •  Provide counseling and other resources to homeowners at risk of, or currently in, foreclosure.
  •   Provide resources to help stabilize neighborhoods by addressing the issue of vacant properties that result in loss of property value and increased crime.
Here’s What We Will Achieve:

  • Thirty percent of clients worked with will be able to retain their homes and avoid foreclosure. This is estimated to be a minimum of 30,000 homeowners. The net savings to the region by retaining home ownership for 30,000 homeowners is estimated to be $2.75 billion.
  • A minimum of 150 additional counselors will be available to provide in person and phone counseling to 100,000 homeowners by December 2009.  
  • A process will be in place to help local communities pursue grants and other funding to assist with stabilization efforts.

    The Southeast Michigan Regional Foreclosure Intervention and Neighborhood Stabilization Collaborative will execute a comprehensive, regional approach to addressing the foreclosure crisis in order to ensure significant, measurable results. Taking action now to collectively address this crisis is the only way to help struggling families and communities. It must be done. Working together, it can be done.

 

 

 

 

 
 
 
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