News
In OR’s Sea of Foreclosures, Home Ownership Success
Public News Service reported on the low foreclosures experienced by homeowners served by organizations like ours. In fact, not a single Proud Ground homeowner has experienced foreclosure. Here's a bit of what they had to say:
...less than one percent of homeowners who buy through CLTs are in foreclosure, according to the latest national research. Jesse Beason, executive director of Proud Ground, says it's not magic - they just work to match families with homes and loans they can handle.
"When folks get a chance to really learn about all the ins and outs of home ownership, and when they're really put in a situation that they can sustainably afford a home and a mortgage payment that they can keep up, they are much more successful."
Beason says the CLTs offer homes at far below market-rate prices, and work with smaller, community banks as the lenders. They also help people who are already in foreclosure hold onto their homes.
Read (and listen) to the rest of the story here.
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