Philadelphia Residential Mortgage Foreclosure Diversion Program: Initial Report of Findings

An independent study concluded that Philadelphia’s foreclosure-diversion program has significantly improved the chances for homeowners in mortgage default to remain in the homes. This program has also helped lower-income and minority homeowners reaching agreements with lenders at similar rates to higher-income, non-minority homeowners.

Source
The Reinvestment Fund of the Philadelphia Residential Mortgage Foreclosure Diversion Program
Teaser/Summary
An independent study concluded that Philadelphia’s foreclosure-diversion program has significantly improved the chances for homeowners in mortgage default to remain in the homes. This program has also helped lower-income and minority homeowners reaching agreements with lenders at similar rates to higher-income, non-minority homeowners.

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