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Features
The Ripple Effect of the Mortgage Foreclosure Crisis
Headlines in the daily papers, nightly news and online news services continue to demonstrate the unprecedented turmoil caused by the home mortgage foreclosure crisis. In January, home foreclosures in Massachusetts alone climbed 128% from the numbers reported last year. As the crisis deepens, The Center for Responsible Lending forecasts that nationally 2.2 million families will experience foreclosure over the next few years. This follows in the wake of more than 1.2 million foreclosure filings in 2006.
The ripple effect of the financial market decline is being seen in such areas as the educational loan assistance programs and fundraising for charitable organizations. Recently, the Massachusetts Educational Financing Authority (MEFA), announced it will suspend all Federal education loans as of July 1 due to the financial market turmoil.
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Today’s mortgage crisis is not a simple story, nor is there a simple solution. In April, AGM offered a Funders Briefing on the Mortgage Foreclosure Crisis. AGM Members came together to discuss the multiple levels of this issue as well as the multiple solutions needed to improve these conditions.
In addition, AGM dedicated its quarterly e-newsletter, Issues & Insights, to the Mortgage Crisis. In this issue, we hear from government agencies, area nonprofits and partners about how they are dealing with the crisis and working together to help reach out to borrowers in distress and stabilize communities in danger. Through innovative new programs, advocacy for new legislation, and one-on-one counseling support, our nonprofits are creating new relationships and working together in tandem with state and local governments to address this rapidly expanding issue.
Find out how we are dealing with this crisis locally. Here are quick links to the articles.
AGM will continue to keep you posted on this important issue affecting our communities. If you have any questions or would like more information about the AGM Funders Briefing please contact Miki Akimoto.
Public Policy Updates
Visit our Public Policy Resource
section for the latest news and policy and legislative resources.
Our last update was on April 29,
2008.
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Tuesday, May 13, 2008
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Talking the Walk: Communications Strategies that Advance Issues
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