Furman Center Roundtable Discusses Impact of Foreclosures on Communities

December 12, 2012 - Growing out of research on how foreclosures affect neighborhood crime, funded by the National Institute of Justice, the Furman Center convened a group of experts to consider how to respond more effectively to the spillover effects that concentrations of properties in foreclosure impose on surrounding communities, like increased crime. Roundtable participants discussed what factors are driving these findings in New York City and also considered a number of innovative strategies to combat them, including community-based short sale programs and distressed mortgage purchasing programs, both of which might help homeowners avoid foreclosure and reach resolution of their default more quickly.  Participants represented a broad array of stakeholders, including representatives from local government, nonprofit organizations, and academia.