From 2009 through 2016, Philadelphia was one of the most active reverse mortgage lending markets in the nation. With support from the City of Philadelphia, Reinvestment Fund collected and analyzed data on the frequency, terms and geographic distribution of reverse mortgages. This lending analysis was supplemented with in-depth interviews conducted with Philadelphia homeowners, and their heirs, who obtained a reverse mortgage and subsequently experienced a foreclosure – something they never thought possible. Interviews focused on borrowers’ experiences, from the moment they first contemplated a reverse mortgage through the point that they experienced a foreclosure filing, and then through the resolution of that foreclosure process. This work is part of a larger investigation into the potential fair housing implications of reverse mortgage lending in the Philadelphia metropolitan area.
Colin Weidig conducts evaluations, strategic planning, and quantitative analyses for philanthropic, government, and private clients. Employing both quantitative (including spatial, statistical, and analytics-based) and qualitative (including interviews and focus groups) analyses, Mr. Weidig uses research to help clients better understand their markets, programs, and policy advocacy.
Ira Goldstein, Ph.D., is the Senior Advisor of Policy Solutions at Reinvestment Fund, a results-oriented, socially responsible community investment group. Dr. Goldstein has conducted detailed spatial and statistical analyses in many cities and regions across the US.
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