Foreword
By
Mavis T. Thompson
President of the National Bar Association (2009-2010)

The National Bar Association (NBA) convened its 21st Wiley A. Branton Issues Symposium entitled The American Dream Deferred and Denied: The Impact of the Economic Downturn on Housing and Home Ownership on November 5-8, 2009 in Philadelphia, Pennsylvania. The symposium was held to address one of the most pressing issues emanating from the current economic crisis: the loss of home ownership due to a tidal wave of foreclosures.

The American Dream--owning one's home--has been a motivational thread woven throughout the fabric of modern society, and has served as hope and inspiration for millions of Americans. This vision was built upon the foundation of affordable housing and an educated consumer with a stable job. Unfortunately, many within communities of color have been disproportionately affected by the current housing crisis, which has derailed the optimism and the dream of home ownership. African Americans have been particularly victimized by predatory mortgage lending practices, high unemployment, and accelerated levels of home foreclosure.

It is imperative that the African American legal community and those who are in position to affect public policy and social good address the underlying concerns that have transformed the ideal of home ownership from reality to disillusion. The current state of the economy has created a sense of urgency within our community and a call to action. The National Bar Association (NBA) has heeded the call by convening a panel of subject matter experts and hosted a town hall meeting for the Philadelphia community to explore the impact of home foreclosures. Additionally, the NBA closely examined Philadelphia County's Residential Mortgage Foreclosure Diversion Pilot Program as a model for potential solutions.

This paper analyzes the national residential real estate foreclosure crisis, its impact on the African-American community and how Federal and State governments are using mortgage modification programs to cope with the problem.

White Paper on Foreclosure (PDF)

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The Symposium is named in honor of the late Wiley A. Branton, Sr., who championed the cause of equal justice and equal rights. Wiley Branton is most noted for his significant contributions to the civil rights cases in the 1950's and 1960's, including his representation of the students during the 1957 school desegregation controversy at Central High, in Little Rock, Arkansas.

The purpose of the Symposium is to advance the science of jurisprudence. This forum aims to promote thought and analysis on crucial issues impacting national and international concerns that have some basis for resolution in the law.