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Housing counseling improves fate of mortgages | HousingWireA consumer who receives housing counseling before buying a home is less likely to fall seriously delinquent on a mortgage later on, NeighborWorks said in a new study Thursday. The organization, which finances community development around the country, studied 75,000 mortgages originated from Oct. 2007 through Sept.
Oakland Reveals the Impact of Homeowners Steered into Short SalesBy ACCE Home Defenders League & East Bay MoveOn, While banks want us to believe that the foreclosure crisis is over, an examination of underwater borrowers and short sales signals another wave in the foreclosure tsunami that is devastating communities across the country. There have been few
Improving Language Access Can Prevent ForeclosuresSeventy-one percent of Asian-Americans and 77% of Latinos speak a language other than English at home. Approximately 1 in 3 Asian Americans have difficulty communicating in English. With the growth of new immigrant families in the U.S., financial institutions have invested heavily in advertising and marketing to these communities in the hopes of acquiring a new customer base and the capital that many of these households can bring to their bottom lines.
Securing Equal Access to Foreclosure Relief for Communities of ColorNeighborhoods of color are still reeling from the havoc wrought by the foreclosure crisis. The disproportionate number of high-cost subprime and option ARM loans in communities of color led to concentrated foreclosures and destabilization that have effectively re-redlined these communities.