Tag Archives: A Way to Stop Foreclosure Evictions?

Boston Community Capital, a nonprofit helping low-income communities, is on a buying spree to clear the backlog of troubled mortgages and keep struggling home owners in their homes. During the last four years, the community development financial institution has purchased nearly 400 homes across the country that were in some stage of foreclosure through its Stabilizing Urban Neighborhoods program. It then resells the homes to the former occupants with new 30-year fixed-rate mortgages that are often 40 percent lower than the home owners’ original monthly mortgage payments. Nobody has benefited […]