Download Foreclosure Dispute Resolution Programs: Do They Work?
With foreclosure dispute resolution programs proliferating around the country, the natural question to ask is, "Do they work?" That's what former RSI staff member Heather Scheiwe Kulp and RSI Director of Research Jennifer Shack set out to determine. The answer, as discussed in this article, is that some do and some don't. Some are achieving what they set out to achieve, at least to some extent. Others aren't. What the programs want to achieve varies, though with much overlap. Goals include keeping homeowners in their homes, helping homeowners and lenders come to mutually agreeable resolution, improving judicial efficiency, and so on.
The authors looked at what factors might influence the effectiveness of a particular program, and they found four characteristics of programs that achieve their goals. These were having clear goals and objectives from the start, good document exchange management, active case management by the neutrals and the inclusion of supplemental services like housing counseling.