Public Media Responds to America’s Mortgage Crisis
The mortgage crisis is a perfect storm of economic and market forces. There are a host of factors: historically cheap credit, increased availability of sub-prime loans, the rapid rise and fall of home prices, questionable lending practices, a declining economy and increased costs for necessities such as health care, food and gasoline.
The magnitude of the mortgage crisis and its ripple effect will be felt throughout our society. Some predict that over the next year, as many as one in thirty-three homeowners are likely to have gone into foreclosure.
Foreclosures devalue property and negatively affect communities, making them vulnerable to blight and crime. Related businesses are closing. Jobs are being lost. And families are becoming homeless.
Many at risk of losing their homes are not seeking assistance that is available in their communities.
Unique Capabilities of Public Media
Public media is in a unique position to have a profound impact on critical issues such as the mortgage crisis. By raising public awareness, mobilizing networks of trusted community partners, and by aggregating community resources, public media organizations can make a significant difference in the communities they serve. Collectively, the impact will be felt across America.
Facing the Mortgage Crisis – A Community Engagement Model for Public Media
Funded by the Corporation for Public Broadcasting, the purpose of Facing the Mortgage Crisis is to raise awareness of the impact of the crisis and connect people at risk of foreclosure to the resources they need. This initiative demonstrates the unique ability of public media to impact critical issues by aggregating the resources of public television, public radio and hosts of trusted local partners in communities across America.