Are there resources that we can use to help educate potential lenders about shared equity housing?
Grounded Solutions Network has published a two-page handout for lenders outlining the benefits of loaning to CLT homebuyers. View Handout
Why do some programs have their own criteria including things like debt ratios when the banks already have those in place?
As we saw before the foreclosure crisis, lending and underwriting requirements can become lax with time. Just because a lender approves a loan amount does not mean that the homebuyer can afford [...]
How do I find out what lenders or loan products are already working with shared equity housing programs?
Grounded Solutions Network conducted a survey to find out which banks were lending to their member organizations. View Survey.
How do we learn when inclusionary homeowners default on their mortgages?
Both mortgage lenders and cities have an interest in ensuring that a relevant city department receives notice when owners of inclusionary homes default on their mortgages. With adequate notice, [...]
