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UNC Center for Community Capital evaluates nonprofit foreclosure mitigation programs

Affordable Homeownership, Default, Bankruptcy, & Foreclosure, Mortgage Finance

Four successful nonprofit programs that are helping mitigate foreclosures among low-income homeowners are examined in a new report by the UNC Center for Community Capital.

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Ratcliffe debunks myths on low-income homeownership at Woodrow Wilson conference

Default, Bankruptcy, & Foreclosure, Impacts of Homeownership

Washington, D.C. – UNC Center for Community Capital Executive Director Janneke will debunk some common misconceptions about low-income homeownership during a panel discussion today (May 22) at a national gathering of policymakers, practicing mortgage capital experts and academics. “The foreclosure crisis has given rise to debate over the financial merits of homeownership, especially for families of modest means,” Ratcliffe said at the conference, Are We Becoming A Nation of Renters?, … Continued

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Freeman says research affirms homeownership’s value in wealth-creation for low-income Americans

Affordable Homeownership, Financial Inclusion, Impacts of Homeownership, Savings & Asset-Building

Washington, D.C. – A long-term study of low-income homeowners before, during and after the foreclosure shows that homeowners fair better than renters in a crisis and build wealth that renters do not, UNC Center for Community Capital senior research associate Allison Freeman told a national audience today. “The home is, in my opinion, one of the few ways low- and moderate-income families can build significant wealth over the long term,” … Continued

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Riley speaks on strategic default at UAA conference

Affordable Homeownership, Default, Bankruptcy, & Foreclosure

Pittsburgh, Penn. – UNC Center for Community Capital researcher Sarah Riley today shed light on how and under what circumstances low-income homeowners default on their mortgages at a national conference of urban scholars, researchers and public service professionals. Riley joined a panel of experts for a panel discussion on “Mortgage Foreclosure and Access to Credit” at the Urban Affairs Association 2012 conference, being held April 18-21 in Pittsburgh. Considerable public … Continued

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“Learning by doing” proves effective strategy for helping low-income people build wealth, Manturuk says

Financial Capability, Financial Inclusion

Orlando, Fla. – Early findings from a UNC Center for Community Capital study show clearly that low-income people can learn to save by participating in well-designed savings programs, center research Kim R. Manturuk told attendees convened for the Annual Conference on Financial Education April 18-20. Manturuk’s presentation, “Learning by Doing: Lessons on Financial Education from $aveNYC,” outlined the findings from her study team’s evaluation of the results and impact of … Continued

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UNC Center for Community Capital researchers speak on mortgage finance and credit access at national urban conference

Affordable Homeownership, Debt & Credit, Financial Inclusion, Mortgage Finance

Pittsburgh, Penn. – UNC Center for Community Capital researchers will share research findings that shed light on how and under what circumstances low-income homeowners default on their mortgages Friday at the Urban Affairs Association 2012 conference, being held April 18-21 in Pittsburgh. Center researchers will join a panel discussion on the topic, “Mortgage Foreclosure and Access to Credit. The conference theme is “Rethinking the Future of Urbanism: Cities and Regions … Continued

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Ratcliffe to speak on the future of home finance at NCRC conference

Affordable Homeownership, Mortgage Finance

Washington, D.C. – UNC Center for Community Capital Executive Director Janneke will speak on the future of home finance Friday (April 20) at the National Community Reinvestment Coalition annual conference. Ratcliffe will explain how the pending reform of the mortgage secondary market will have profound effects on communities of color and low-to-moderate income communities for decades to come, and what important elements must be included in any plans for reform. … Continued

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Quercia challenges mortgage industry to create sustainable lending system

Affordable Homeownership, Mortgage Finance

Current path threatens to create “a nation of renters” Washington, D.C. – Changing demographics, a financial services industry trending away from community-based lending and a skittish regulatory climate threaten a future mismatch between the mainstream mortgage credit market and demand, UNC Center for Community Capital Director Roberto G. Quercia told a national mortgage group Tuesday. “How are we going to bridge that mismatch? Are we going to let a lightly … Continued

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Tax-time matched savings program helps low-income families build wealth

Financial Capability, Financial Inclusion, Savings & Asset-Building

$aveNYC program shows promise as asset-building tool Tax season can be a dreaded time of year for many Americans. But for low- and moderate-income households, tax time can bring a significant financial boost in the form of tax refunds. These lump-sum annual payments – from tax credits, such as the Earned Income Tax Credit, or from over-withholding of payroll taxes during the year – offer families that struggle paycheck-to-paycheck a … Continued

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UNC study shows homeownership helps stabilize low-income neighborhoods

Affordable Homeownership, Mortgage Finance

Chapel Hill, N.C. – A new study by researchers at the UNC Center for Community Capital finds a clear link between homeownership and how low-income families perceive crime in their neighborhoods. Not only does homeownership lead residents to take steps to protect and secure their neighborhoods thereby reducing crime levels, those perceptions are also important because they affect residents’ mental and physical health as well. The study compares the perceptions … Continued