The Impacts of Foreclosures on Families and Communities

The foreclosure crisis is now having dramatic effects throughout America. In mid-2008, recognizing that this phenomenon was still quite new, the Open Society Institute asked the Urban Institute to scan available research to document what we know about: (1) the way foreclosures impact families; (2) how foreclosures affect communities; and (3) the efforts now underway, or being suggested, to address the crisis, focusing on actions at the local level. This report presents the results of this review. A final section offers the authors' recommendations on priorities for additional research to fill important gaps in the knowledge base.