There will be 2.4 million foreclosures in 2009 along with 9 million foreclosures between 2009-2012, according to the Center for Responsible Lending (CRL). CRL also estimates that 69 million homes will lose property value because of nearby foreclosures for a total property value loss of $502 billion.

The Progressive States Network is working with its partners and leading experts to promote reforms to stem the foreclosure crisis and put in place reforms to discourage predatory lending practices in the future.Through coordinated, strategic support, PSN and our allies will be working to introduce and advance legislation to address foreclosure and predatory lending reforms, providing model legislation, policy analysis, messaging and more – all of which has been gathered and will be constantly updated on our Foreclosure & Predatory Lending web page.

Our policy staff are also available to answer questions and supply information not on the website. Legislators and advocates can contact us about supporting the Foreclosure Reform and Anti-Predatory Lending campaign through our website or by emailing
foreclosure.

[Source: Excerpted from recent newsletter from Progressive States Network]