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The Home Ownership Preservation Initiative in Chicago HOPI: Reducing Foreclosures through Strategic Partnerships

Neighborhood Housing Services of Chicago. Who is NHS The mission of NHS is to help neighborhoods stay strong by helping people buy, fix or stay in their homes. We are a not for profit community organization that has been working in Chicago neighborhoods for 30 years. We have 8 local offices

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The Home Ownership Preservation Initiative in Chicago HOPI: Reducing Foreclosures through Strategic Partnerships

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    1. The Home Ownership Preservation Initiative in Chicago (HOPI): Reducing Foreclosures through Strategic Partnerships Bruce Gottschall, Executive Director Neighborhood Housing Services of Chicago

    2. Neighborhood Housing Services of Chicago Who is NHS – The mission of NHS is to help neighborhoods stay strong – by helping people buy, fix or stay in their homes. We are a not for profit community organization that has been working in Chicago neighborhoods for 30 years. We have 8 local offices that serve 9 targeted neighborhoods: Auburn Gresham/Englewood West Englewood – 60620 & 60636 Back of the Yards/Garfield Boulevard – 60609 & 60621 Chicago Lawn/Gage Park - 60629, 60632 & 60652 North Lawndale – 60623 & 60612 West Humboldt – 60624 & 60651 Roseland – 60628 South Chicago – 60617 Central Office – Provides City-Wide programs We Serve 1-4 unit homeowner occupants

    3. Foreclosures Threatened Chicago’s Neighborhoods

    4. Fast Foreclosures in NHS Targeted Areas Half of Loans Start Foreclosures within 3 years of Origination Dramatic increase Since 1993

    5. NHS Case Study of Foreclosure Impact:

    6. Chicago’s Home Ownership Preservation Initiative (HOPI) Model

    7. Chicago’s HOPI Approach

    8. Chicago’s Home Ownership Preservation Initiative (HOPI)

    9. HOPI Approach

    10. Survey Findings of NHS Counseled Families

    11. Profile of Respondents

    12. 72% of Defaulted Loans are Refinances

    13. Why, if Behind, Did not Contact Lender?

    14. NHS of Chicago Resources:

    15. Public-Private Partnerships Maximize Impacts

    16. Connecting Distressed Borrowers to Services

    17. HOPI – Three Year Goals

    18. HOPI Results: April 2003 – March 2005

    19. City of Chicago Foreclosures 1999-2004

    20. Emerging Trends

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