The RAISE Florida Network (RFN) recognizes the negative impacts to rural and low-income communities that result from foreclosure on homestead properties, as well as, the loss of such properties on the residents and their families. Often, these losses result from the need for education of residents in financial management, the lack of information available to these communities the lack of resources to help residents to avoid or prevent foreclosures, and the lack of assistance available to these residents to obtain relief from burdensome terms associated with their mortgages.
Florida has the highest rate of foreclosures in the country. It is estimated that from 2009 through 2012, lost home equity wealth in Florida due to nearby foreclosures is $331.3 billion. The average loss per home due to nearby foreclosures is estimated to be $41,271. Disproportionately African Americans and Hispanics are affected by the increased foreclosure rates. Florida has experienced challenges deploying the “Hardest Hit” funds to families that need the assistance.
The Housing and Community Development Network (HCDN) goal is to work collaboratively with statewide partners in advancing advocacy and education strategies to support policies and practices that protect home-buyers from unfair predatory practices. The Raise Florida Network HCDN will:
- Assist networks partners in reducing the risk of deficiency judgments and accelerated foreclosure actions
- Increase support for loan modifications and legal aid assistance
- Homeowner education to protect investments and preserve housing and land issues of low moderate income families
- Collaborate with partners to support the Florida Homeowners Bill of Rights.