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A 38 year old, Trenton-based nonprofit that fosters self-reliant families and healthy, sustainable communities.

Foreclosure Assistance

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Foreclosures can devastate entire neighborhoods and cities, not just the borrowers who lose their homes. Foreclosures take a toll on neighborhoods and other homeowners, not just those who have trouble keeping pace with their mortgages.foreclosure

Foreclosures – and the spikes in crime and depreciating property values they cause – harm entire neighborhoods.  Studies have shown that foreclosures:

- Increase violent crime in neighborhoods.

- Decrease property values an average of $2,000 per foreclosure in low-income neighborhoods.

- Cost cities revenue as falling property values jeopardize crucial property tax streams which fund   public systems like schools, law enforcement and roads. 

It has been estimated that 314 of the high-cost loans made in 2006 in the Trenton area are likely to go into foreclosure. The costs to all of the stakeholders involved will be more than  $40 million.
These costs hit all Trenton and Ewing city stakeholders including:
  • Individual homeowners in foreclosure who will lose more than $2.2 million,
  • Lenders/Investors who will lose more than $19 million,
  • Local Governments who will pay more $6 million in increased police costs and lost property tax 
  • Neighborhood homeowners whose homes will lose more than $13 million in  value due to foreclosures around them.
Isles currently performs foreclosure services through the National Foreclosure Mitigation Counseling (NFMC), New Jersey Homekeeper and the New Jersey Mediation programs.  Since 2008, Isles counselors have provided services to more than 550 foreclosure customers and have obtained positive mortgage outcomes for 175 families.