Program helps low-income families build homes

From the Seattle Times:

Five new homes in a development called The Crest at Copper Station complete a three-year, 35-house Team HomeBuilding project. The sweat-equity program for low- and moderate-income families is one of many affordable housing options offered by Housing Hope, a nonprofit agency serving people in Snohomish and Island counties.

I really like this program. Like Habitat For Humanity, Housing Hope works with a group of people in need of affordable housing to build new homes. In this development, all the families in the new development help build each others homes. This leads to a scence of ownership but also a scene of community.

Until Next Time,
Mike
Affordable Housing

Finding Neutral Information

When someone is facing a personal hardship, particularly one as touchy as when there was financial problems. Finding neutral advice can be hard. This blog covers news related to bankruptcy and Affordable housing, but our goal has been to put personal finance into a context that people can understand. We are bloggers, not lawyers.

Finding a great bankruptcy lawyer or credit counselor may part of the equation. But before you get to that point, it may be important to education yourself. Avvo.com is a fantastic resource for learning about Bankruptcy.

When speaking to a lawyer or credit counselor it is always best to arm yourself with as much information as possible.

Until Next Time,
Mike
Chicago Bankruptcy

Houston leading the way in Green Affordable Housing

From Houston Public Radio:

Guy Rankin is the CEO and Executive Director of the Harris County Housing Authority. The latest project, which opened earlier this month with 88 units, is the first affordable housing development in the country that's LEED Platinum Certified. The complex has hundreds of energy efficient features, from solar panels on five buildings and rain water harvesting to better insulation.

This is an amazing development in Affordable Housing.

Until Next Time,
M Lewis
Affordable Housing

Personal Bankruptcy Rate Falls

Resent data released by the American Bankruptcy Institute, personal bankruptcy files from 18% year-over-year, "Personal bankruptcy filings in July 2011 totaled 113,470, down from 137,698 personal bankruptcy cases in July 2010, a decline of 18 percent."

At first glance, this might look like a positive. More Americans are able to pay off their debts without creating undo burden on their way of life. However, with unemployment still at 9% and the jobless rate at 16%, it is more likely that less people are filing for bankruptcy because they cannot afford to administrative and legal fees. the 2005 Bankruptcy Abuse Prevention and Consumer Protection Act made it more difficult and more expensive to file for Bankruptcy protection.

The drop in filings could be that the people in dire financial position cannot afford the file.



Until Next Time
Mike
Chicago Bankruptcy

Delaware studies little change

This week, an independent consulting working on behalf of Delaware released a study on the state of affordable housing in state. Nothing has really changed.

• Racial minorities have a tougher time becoming homeowners and are disproportionately denied mortgages loans.
• Elected officials, staff, landlords and the public need more training on fair housing.
• Certain fees discourage development of new affordable housing projects.

The study argues that while there has been much progress on increasing the affordable housing stock in urban areas, the state needs to do a better job in helping increasing access to fair housing in rural and suburban areas of the state.

<iframe width="425" height="349" src="http://www.youtube.com/embed/wjAoYYF4DdY" frameborder="0" allowfullscreen></iframe>

Until Next Time
M Lewis
Affordable Housing Development

Problems with Affordable Development in St. Paul

Recently, a Ramsey County District judge has told the St. Paul City Council to reconsider two zoning variances granted to an affordable-housing project proposed for Highland Park:

The building, largely financed by the sale of state and local tax credits through a federally backed housing program, would house 160 to 180 residents, with 10 units set aside for homeless individuals or families. About half of the building would be for the very poor - those at or below 30 percent of area median income - and the other half would be "workforce housing" for low- to moderate-income families.

The development is being blocked by a group of local neighbors. They are argue that existing homes in the area, either in foreclosure or abandonment, could be converted to affordable housing. Other plaintiff in the suite believes adding high density housing to the area would cause a breakdown of the existing infrastructure. The judge, in his option, stated that the site could house a small apartment complex, thus the zoning issues at the core of the suite where a non-issue.

I believe this case highlights the importants of state wide laws, like Massachusetts's Chapter 40B program. Using state-wide power of grant zoning variances gives weight to projects such as this one. To a large extent, it takes local politics and prestigious out of the equation.

Until Next Time,
M Lewis
Affordable Housing Development

What Is Affordable Housing?

What Is Affordable Housing? from the Center for Urban Pedagogy on Vimeo.

A great video explaining the technical definitions of affordable housing.

Until Next Time,
Mike
Affordable Housing Developement

Affordable Housing and Access of Healthy Food

A new program recently launched in Boston aims dealing with a problem that often goes hand and hand with the lack of affordable housing: access to healthy food.

When Massachusetts began the Chapter 40B Affordable housing program its goal was to keep people from getting priced out communities. Over the last decade 80% of all affordable housing united added in Massachusetts have been built with the assistance of Chapter 40B. In other words, 58,000 homes have been created for working families, seniors, and people with disabilities all across the state because of this law.

One problem that arises in mixed income communities is access to healthy food. While working families are able to remain a community, there ability access healthy and inexpensive food remains a problem. If the nearest market or big box retailer is several miles away and they do not have easy access to transpiration, they are going rely on cheap fast food. This unhealthy pattern leads to an increase in rate of obscenity and diabetes. These issues often go unnoticed because of the lack of access of preventive healthcare and urgent care.

Research done by the USDA has shown that having a full service grocery can have a substantial impact the health of a community.

Personal bankruptcies decline in Minnesota

Good news for Minnesotans:

Through May, 8,740 households filed for bankruptcy in Minnesota, a 9 percent drop from the 9,596 who filed in the first five months of 2010.

It is nice to see some good economic news. As the housing bubble continues to burst, people will be able to get into more affordable housing and will be less likely to file for personal bankruptcy. The people from Minnesota have been hit really hard by the economic downturn. Manufacturing has left the state, and with money tight, Target and General Mills are not selling able to sell as many consumer goods as they had in the last.

Robert Reich: There's One Big Problem In The US Economy That's Dragging The Whole Thing Down

In today's Business Insider former Labor Secretary Robert Reich looks at why the economy is still in the pit:

The problem isn’t on the supply side of the ledger. Corporate profits are still healthy. Big companies continue to sit on a cash hoard. Large and middle-sized companies can easily borrow more, at low rates. The problem is on the demand side. American consumers, who constitute 70 percent of the total economy, can’t and won’t buy enough to get it moving. They justifiably worry they won’t be able to pay their bills or afford to send their children to college or to retire.

Consumers cannot find a way to consumer and Lenders don't trust the people they lend too. As long as the accutuale economy remains stagnate personal bankruptcy will continue to rise.

South Sound personal bankruptcy filings continue to rise

Vegas is not the only place where people are in trouble. Personal bankruptcy has spiked in the southern suburbs of Olympia, WA:

Thurston County filings rose 16 percent to 349 from 300 in the same period last year, while filings in Pierce County rose less than 1 percent, the data show. Although the percentage change in filings for Pierce County wasn't as dramatic, the total number of filings was much higher. Pierce County filings rose to 1,237 in the first quarter from 1,229 in the same period last year, the data show.

50,000 New Low Income Housing Units Added to Online Database

In an effort increase access to affordable housing in the US National Low Income Housing Authority have launched a free online database.

The web site is an easy-to-use free online tool that offers valuable information, resources, and tips on how to find and apply for low income housing programs, affordable housing programs, and other similar government assistance programs. Those who are going through a financial crisis can use the site to find an affordable place to live, to be informed about what their options are, and to be encouraged that there is help available.

This online market place is designed to property owners and people seeking access to affordable housing. This reduces one of the biggest current barriers.

1 in 8 Americans have either filed or considered filing for bankruptcy

We do not needed to be reminded that time are tough. Even as the stock market recovers and businesses start hiring again, there are still a lot of people struggling just to make ends meet.

A new study from Findlaw.com seems to bare this out:

The FindLaw.com survey found that people between the ages of 35 and 54 are 50 percent more likely to have considered filing for bankruptcy than people ages 18-34 or 55 and older. The group least likely to have considered filing for bankruptcy remains people of retirement age (65 and older) at 7 percent.

With so many people considering personal bankruptcy as a solution, we need to start thinking about this problem in a new way. This is not people living beyond their means. This is about a systemic problem about how we, in the US, relate to commerce.

New Housing Program for Western Cook County

Exciting news about a new housing program here in Chicago!

The Monroe Foundation’s S.T.A.B.L.E. Project and the Village of Hillside will be hosting this free home owners event in a point a little over a month, to educate home owners in the area who need mortgage assistance.

Are you worried about losing your house because of medical bills or job loss? For more information about debit restructuring and personal bankruptcy, visit the The Law Offices of Melvin J. Kaplan and Associates, P.C

BofA Chief Says More Foreclosures Inevitable as Repeated Defaults Top 50%

Its hard to believe these guys are not in jail!

“We’re reaching a point where some customers will be dealing with the reality that despite the myriad programs and the best efforts of everyone in this room, and of our teammates working with these customers, foreclosure may be unavoidable,” Moynihan said today during a speech to state attorneys general in Charlotte, North Carolina."

For more information about how to debit relief and chapter 13 debit restructuring visit financialrelief.com