Build Strategic Partnerships
Many metro areas, regions and states have established collaboratives of partners to research, develop, finance, coordinate and implement strategies to prevent foreclosures and to mitigate the impacts of foreclosures on neighborhoods. These collaboratives are critical in preventing duplication of efforts and in bringing together partners that may not typically work together but who each have a role to play. Partnerships are also attractive to funders who seek to coordinate their investment in strategic interventions.
Finally, partnerships are useful in implementing policy-level changes at the local, regional and state levels on issues such as nuisance abatement, protections for renters, land bank enabling legislation, and more.
Potential partners include:
- Government (elected, staff, police, fire, housing courts, etc.)
- Universities or other research partners
- Real estate professionals
- Neighborhood and homeowner associations
- Landlord associations
- Regulators, and more
Examples of these strategic partnerships include:
- The Minnesota Foreclosure Partners Council facilitates a rapid, coordinated response to the mortgage foreclosure crisis affecting the Twin Cities metropolitan area. The council collaborates with numerous private and public partners.
- The Center for New York City Neighborhoods created a process that supports, trains, and coordinates nonprofit partners to act as a single system in responding to the mortgage crisis.
- The Homeownership Preservation Initiative (HOPI) is a partnership of NHS of Chicago, the City of Chicago, and lending, investment, and servicing institutions. HOPI is working to preserve home ownership and to reclaim foreclosed housing stock.
- Foreclosure Response, a nonprofit collaborative in Kent County (Grand Rapids) Michigan, which connects residents at risk of foreclosure with over forty groups, including non-profit housing and service agencies, neighborhood organizations, foundations, city and county governments, Legal Aid resources, and banks and real estate professionals.
- The Metropolitan Washington Area Consortium marshals the resources of 6 local jurisdictions for the purpose of submitting a regional consortium NSP2 grant application to HUD. For information on how the group attempts to achieve regional scale and local flexibility, click here.