Foreclosure intervention: Keeping families in their homes in times of financial crisis
Blanca Velez Beauchamp, Executive Director, Puerto Rico Neighborhood Housing Services
Challenge: Due to the current financial uncertainty, high unemployment rates and a devalued real estate market, residents of Puerto Rico have been afraid to invest money or buy houses; 500 families are migrating from the island every month.
Some community-development organizations think the foreclosure crisis is over, but there’s a new emergency now hitting the elderly hard, says Lou Tisler, who recently left Neighborhood Housing Services of Greater Cleveland after 12 years as executive director. That new crisis is tax foreclosures — the sale of a property due to unpaid tax liabilities.
