Reinvestment Fund analyzed Pennsylvania’s Homeowner’s Emergency Mortgage Assistance Program (HEMAP) with support from the William Penn Foundation. The summary findings include that from 2008 to 2010, HEMAP saved more than 6,100 Pennsylvania homeowners from foreclosure. The number of homes saved from foreclosure by HEMAP amounted to between 4.6% and 5.1% of the total inventory of homes in foreclosure. The report also found that the program averted a combined $480 million in financial impact of foreclosures.
Today, Councilwoman and Majority Leader Cherelle L. Parker (9th District), along with Dr. Ira Goldstein, President of Policy Solutions at Reinvestment Fund, and all the members of the Philadelphia Home Appraisal Bias Task Force, issued its Final Report and Recommendations.
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