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Tag Archives: Boston Community Capital

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.

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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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