Georgia Borrowers to Share in $2.1 Billion Ocwen Settlement

(Courtesy of AJC):  Thousands of Georgia borrowers who lost their homes to foreclosure or were victims of possible improper lending practices will have loans reduced or possibly receive cash payments in a $2.1 billion settlement the state and others announced this week with Atlanta-based Ocwen Financial Corp., a major mortgage servicer.  The state Attorney General's Office announced in late December that Georgia's share of the settlement is at least an estimated $35.7 million. Those funds will be used to reduce first lien principals for about 7,602 borrowers. In addition, some Georgia homeowners whose loans have already been foreclosed may receive cash payments that exceed $1,000. The number of valid claims submitted will determine how many borrowers are eligible for payments.  MORE

Does the Suburbanization of Poverty Mean the War on Poverty Failed?

(Courtesy of Brookings Institute): As part of its recent analysis on suburban poverty, the Brookings Institute examines whether changing geography of poverty means the war on poverty failed.  MORE

Saporta Report Examines Poverty in Atlanta

The Saporta Report's David Pendered looks at poverty in Atlanta examining Atlanta's ranking as the worst major urban region in the country in terms of children born into poverty moving into the middle or upper economic classes. Article also looks at ideas offered by Georgia Tech students on revitalization of the impoverished Vine City and English Avenue neighborhoods. MORE

Tools You Can Use

Metro Atlanta Equity Atlas, launched late last year by the Partnership for Southern Equity, provides data on the state of equity in metro Atlanta with focus on demographics, economic development, education, environment, health, housing, public safety and transportation.  MORE

Eviction and the Lives of the American Poor

(Courtesy of Harvard Magazine): The acute lack of affordable housing in American cities - the worst such crisis since the end of World War II - is the primary reason low-income families are being evicted at such high rates, according to extensive research conducted by Harvard sociologist Matthew Desmond. Many who are evicted end up in shelters or even on the street. When they do find housing, a record of eviction often means they are limited to decrepit units in unsafe neighborhoods. Eviction thus compounds the effects of poverty and racial discrimination. "We are learning," says Desmond, "that eviction is a cause, not just a condition of poverty."  MORE