Foreclosure Response

Resources on preventing foreclosures & stabilizing communities

***NOW AVAILABLE: Foreclosure Needs Scores at the ZIP Code Level***

Across the country, states and localities are engaged in an expedited process to determine how to allocate nearly $4 billion that the federal government is providing to help stabilize the communities that have been hardest hit by the mortgage foreclosure crisis.

Decisions about how to use these funds, distributed by the U.S. Department of Housing and Urban Development (HUD) through the Neighborhood Stabilization Program (NSP), need to be made quickly: Draft Action Plans must be posted for public comment by November 15, 2008. Action Plans are due to HUD by December 1, 2008, and all money must be obligated for use on a specific project within 18 months of receipt. (Click here to view draft action plans from states and localities.)

 

To help states and communities make informed decisions about how to allocate and

spend these funds, the Local Initiatives Support Corporation (LISC) has developed datasets with foreclosure “needs scores” for Community Development Block Grant jurisdictions and at the ZIP Code level within each state. These scores incorporate measures of subprime lending, foreclosures, delinquency, and vacancies to help state and local officials quickly assess the relative needs of different jurisdictions for neighborhood stabilization funding within each state and allocate funds accordingly.

This resource is available through the Foreclosure Response project, a new collaboration of the Center for Housing Policy, KnowledgePlex, LISC, and the Urban Institute. This project – expected to launch formally within a few months – will help practitioners, policymakers, and researchers to access data, analysis and information on foreclosure prevention and neighborhood stabilization.

Direct links to these resources are provided below:

Overview – A brief introduction to the data included in the spreadsheets and how they can be used.

Neighborhood Stabilization Data – Detailed spreadsheets showing the relative need for neighborhood stabilization funding among CDBG Jurisdictions and ZIP Codes within each state.

CDBG Jurisdiction data

ZIP Code level data

This spreadsheet has four tabs:

– Table 1. LISC’s Foreclosure Needs Scores for CDBG jurisdictions within each state, along with data on individual components that make up the score.

– Table 2. Data that help states estimate the share of need among communities that fall outside formal CDBG jurisdiction limits.

– Data Definitions. Descriptions of the data shown in each column of Table 1.

– Appendix A. A list of the small number of changes in CDBG jurisdiction boundaries that have taken place since 2005. The data we have provided do not reflect these changes.

CDBG Methodology [PDF] – A detailed description of the methodology used to calculate the LISC Foreclosure Needs Scores for CDBG Jurisdictions.

Because of the large file size, ZIP Code level data has been divided into four separate files.

Alabama to Indiana • Iowa to Montana • Nebraska to Oregon

• Pennsylvania to Wyoming

Each spreadsheet has two tabs:

– Table 1. LISC’s Foreclosure Needs Scores at the ZIP Code level within each state, along with data on individual components that make up the score.

– Data Definitions. Descriptions of the data shown in each column of Table 1.

ZIP Code Methodology [PDF] – A detailed description of the methodology used to calculate the LISC Foreclosure Needs Scores at the ZIP Code level.

**Users are advised NOT to compare foreclosure needs scores at the ZIP Code level with CDBG Jurisdiction needs scores, as each set of scores is based on an independent ranking system.

As the Foreclosure Response team continues to prepare information for initial launch of our information portal, we plan to release additional materials that can help communities with the process of developing foreclosure prevention and neighborhood stabilization programs, such as lessons learned from existing programs and more detailed data for local jurisdictions. A full set of resources, including a policy guide, interactive discussion forum, and customizable data reports, will be released in the first part of 2009.

Please check back soon, and contact us if you have suggestions or program examples we should know about. To receive updates on this project, join our mailing list.

 

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