I was a Philly judge in 2008. We need to act now to stop the next economic crisis
When the 2008 financial meltdown happened, we knew we had to act fast.
In the aftermath of the crisis, Philadelphia saw a 200% increase in foreclosure filings. Calling upon local court leadership and a group of stakeholders from the housing community, our local court created a new mortgage foreclosure diversion program in just seven weeks. The very simple purpose of the program was to place homeowners and their legal aid advocates face-to-face with lenders to work out a resolution to the foreclosures and save their homes.
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