< Back To Index 11.10.2009 - Social Science Research Network

"Bending Toward Justice: An Empirical Study of Foreclosures in One Neighborhood Three Years after Impact and a Proposed Framework for a Better Community"was recently listed on the Social Science Research Network’s Top Ten download list for Housing & Community Development Law and the Top Ten download list for Economic Inequality & the Law.

The article, authored by Mark Ireland, is an empirical study of one neighborhood in Minneapolis, Minnesota. In addition to an analysis of lending patterns and loan characteristics, this study also analyzes the post-foreclosure impact. Once the foreclosure occurred, what happened to the property? This study finds that 83% of the properties were the subject of a 911 emergency phone call, most properties took over a year to sell from the date of foreclosure to the date of sale, and that the median loss for the lender related to the property was 49% of the redemption amount. The article puts these statistics into context, analyzing five major policy areas implicated by the statistics that highlight incorrect assumptions made about the foreclosure crisis. Finally, the article proposes a framework for a national conversation about race and poverty in order to move forward and target resources where they are most needed.

To view the top ten lists for the journal, click on the list name below:
Housing & Community Development Law Top Ten  
Economic Inequality & the Law Top Ten

You may view the abstract and download statistics at the URL: http://papers.ssrn.com/abstract=1492777.  Just click the download link above the abstract and then the SSRN-icon button.  A PDF of the article will then be downloaded.