A program in Philadelphia is the most successful in the US at preventing foreclosures, according to Acorn’s description in its new report on the program, Road to Rescue: How the Philadelphia Model Can Reduce Foreclosures Across the Country

An excerpt: Almost a year into its existence, the Philadelphia Foreclosure Diversion Program, a pre-foreclosure mediation process that is preventing more than three in four owner-occupied foreclosures, has proven to be the best model in the nation.  Other jurisdictions are following suit and adopting mediation programs, which are less successful because they are not mandatory, lack effective community outreach, are difficult for homeowners to access, or do not make effective use of housing counselors.  As President Obama called for in his foreclosure speech in February, the federal government must invest in successful foreclosure prevention programs at the local and state level as a necessary complement to the Administration’s foreclosure plan.

This report provides a detailed review of the Philadelphia program and its successes, as well as other less effective mediation programs, and analyzes the positive impact on local economies of adopting successful mandatory mediation programs.