Stakeholder Interviews, User Survey

and Focus Group Findings

Results

The Planning Studio class interviewed with stakeholders that are experts in the field of foreclosures as well as with citizens from the five cities of the First Suburbs Consortium through phone surveys and focus groups. Below are the findings for the stakeholder interviews, phone surveys, and focus groups:

Stakeholder Interviews

Forty interviews with stakeholders regarding the causes and impacts of foreclosed and vacant properties in their communities were completed. This information served as useful information anchors throughout the paper and may be examined in further detail in the document.

Survey Results

The research team collected 893 valid phone numbers. In the first phase, 330 was found and in the second phase, 563 was found. Through collective effort, the team tried to reach every owner from the effective list. However, only five user surveys were completed. The reasons for this included many disconnected phones, some individuals reached, but did not want to talk, and some individuals that were called had never gone through foreclosure proceedings.

Focus Group

The UST 611 team invited approximately five to ten people to a focus group to discuss their particular journey through the foreclosure process. Recruited participants were from the approved pool of respondents sanctioned in IRB #29538-SIM-HS which was used as a discussion guide. The focus group was held in a classroom at the Levin College of Urban Affairs at Cleveland State University.

Obstacles to implementing Mortgage Move-Down

• Getting the borrowers attention in the small window of three months when they are missing there first payment and before the bank moves on the delinquency. This is a short period of time and homeowners are still working to keep their home-trading at this point may seem anathema. Participant A indicated she knew several others who were going through foreclosure who were single and seemingly detached about the foreclosure process. Whether this would also be a target for Mortgage Move Down should be explored.
• The Mortgage Move Down does no remove the sense of failure and anger if the home has already lost its equity due to market forces.