An initiative by a nonprofit will help Philadelphia homeowners facing foreclosure by buying their homes and reselling them to their occupants with mortgage loans they can afford. Here’s how.
Read More »Industry Insight: The Return of the Boomerang Buyer
DS News sits down with Elyse Cherry, CEO of Boston Community Capital, to discuss boomerang buyers and the impact they have on the housing market.
Read More »Community Organizations Work to Prevent Foreclosure
Increasingly, community organizations are getting more involved in ensuring that their citizens are able to avoid foreclosure and stay in their homes. The motivation is simple, fewer foreclosures make for more stable communities. More stable communities reduce crime and protect property values. To that end, Boston Community Capital (BCC) created the Stabilizing Urban Neighborhoods (SUN) program to allow borrowers to remain in their homes, while still achieving principal reduction and lowering their monthly payment.
Read More »Housing Market Slips Slightly
The national housing market moved slightly farther away from stability in May as applications for home purchase mortgages remained subdued. Freddie Mac's Multi-Indicator Market Index (MiMi) for the month slipped to a value of -2.64 in May, indicating a slightly weaker market than in April, when the index measured -2.59.
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