A lot of the cases that go through RSI’s foreclosure mediation programs end with a temporary loan modification – a trial payment plan in which the homeowner pays a new mortgage amount for a few months. If the homeowner makes the payments on time and in full during the trial period, the homeowner and bank agree to make the modification permanent. This means that a temporary loan modification doesn’t necessarily mean that the homeowner has averted foreclosure. Because of this, I was interested to find out if homeowners in our programs were able to convert their temporary loan modification into a permanent one. Now that a significant number of temporary payment periods have come to an end, I have finally been able to delve into that question. (more…)
Archive for the ‘Program Evaluation’ Category
What Happens to Temporary Loan Modifications Reached in Foreclosure Mediation?
Jennifer Shack, January 26th, 2015Foreclosure Mediation Programs Helping to Retain More Homes
Jennifer Shack, October 24th, 2014I’ve just completed the quarterly statistical report for foreclosure mediation programs in Illinois in the 16th, 17th, 19th, 20th and 21st Judicial Circuits. If you’re a regular reader of the blog, you might remember that I wrote about the first statistical report back in August. The latest report, which covers all cases opened through September 30, shows that the programs in the 16th, 19th, and 21st circuits now have significantly higher home retention rates than at the end of June. (more…)
Housing Matters
Just Court ADR, October 10th, 2014Last Thursday and Friday I had the opportunity to attend the Housing Matters conference hosted by Housing Action Illinois, a statewide coalition formed to protect and expand the availability of quality, affordable housing throughout the state. Their annual conference is designed to bring together housing counseling agencies, homeless service providers, developers of affordable housing and policymakers. The conference was filled with valuable information and was a great opportunity for RSI to connect with the housing counselors, legal aid providers and research experts that help make our foreclosure mediation programs successful.
A few of the workshops that I attended really stood out as applicable to the foreclosure mediation work that RSI is doing. (more…)
Different Program Models Beginning to Show Different Strengths
Jennifer Shack, August 4th, 2014The Illinois Attorney General’s grant for foreclosure mediation has so far resulted in five programs with five different service delivery models. This has had me, as evaluator of the programs, anxious to find out how the differences will affect program outcomes. Having just completed the first statistical report for the foreclosure mediation programs, my initial impression is that program model really does matter when it comes to many performance measures. (more…)
