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HEMAP CAPTURES HIGH MARKS IN TRF STUDY

From 2008 to 2010, Pennsylvania's recently closed Homeowner's Emergency Mortgage Assistance Program (HEMAP) saved more than 6,100 Pennsylvania homeowners from foreclosure and had a total estimated impact of $480 million, according to a newly released report, the Reinvestment Fund’s (TRF) Research Brief: What if Pennsylvania Had Not Had HEMAP?  Were it not for HEMAP, Pennsylvania’s foreclosure rate would have been higher and its rank among states several rungs worse. Over this period, the number of homes saved from foreclosure by HEMAP amounted to between 4.6 percent and 5.1 percent of the total inventory of homes in foreclosure.   See the complete report at http://www.trfund.com/resource/downloads/policypubs/HEMAPsummary.pdf.