• More families in need, as they choose between mortgage payments and other essentials, and as families are evicted from foreclosed homes
• Less funding for nonprofit service providers, as governments have less money from real estate taxes and begin to slash their budget expenses - - including funding for nonprofits
• Less money for nonprofits as the fate of Fannie Mae and Freddie Mac, which together provided over 45 million dollars a year to the Washington region nonprofits, remains uncertain
• Less money for nonprofits as individuals and corporations reduce donations as their capital assets shrink and they face an uncertain future

In the Summer of 2008, nonprofits and government representatives from across Northern Virginia met to discuss the foreclosure crisis. While some areas of our region are hurt worse than others [notably Prince William, Loudon, and parts of Fairfax County], all felt the impact of the housing downturn and the effect on workers and businesses. Since then, the situation has only worsened.

Out of the meeting grew the Foreclosure Mitigation Network, an effort to focus on the people involved in this crisis and not just the bricks and mortar. Nonprofit NoVA members were central players in this effort. Nonprofits understand that this housing crisis increases demand across many sectors and that we must pull together to ensure that our communities help each other survive.

The more we can stabilize families and communities, the quicker we will be able to recover from these difficult times and move forward.

For more information on this effort, please contact This e-mail address is being protected from spambots. You need JavaScript enabled to view it 202-973-2506

Northern Virginia Regional Network on Foreclosure Prevention and Mitigation