Brenda Woods didnвЂ™t would you like to go and leave the yard she had tended for 40 years. Nevertheless the roof had been falling in. And her bank would give her and nвЂ™t her spouse Larry that loan to get an upgraded house.
BrendaвЂ™s nevertheless tending her garden, however, because of a second-chance loan through the brand New Hampshire Community Loan Fund-a Community developing lender (CDFI). It let the Woods exchange their property by having a brand new, safe, affordable, energy-efficient manufactured house.
Almost 700 families financed houses through the Community Loan Fund, which won a $5.5 million honor through the Water Wells Fargo WFC, +3.59% NEXT Awards for Opportunity Finance. The honor had been for expansion of a financing that is innovative for produced housing mortgage loans. The THEN Awards recognize revolutionary CDFIs that responsibly serve low-income and low-wealth individuals and communities.
Community developing banking institutions, including banking institutions, credit unions, loan and endeavor funds, are making second-chance loans where other people may worry to tread.Read More »MarketWatch web web Site Logo a web link that brings you back again to the website.