Shrinking availability of small mortgages hurts low-income buyers
Mortgages valued at $100,000 or less — called small-dollar mortgages — can help aspiring homeowners with lower incomes afford to purchase. From: The Inquirer (Read more.)
Mortgages valued at $100,000 or less — called small-dollar mortgages — can help aspiring homeowners with lower incomes afford to purchase. From: The Inquirer (Read more.)
Established by city ordinance, the pandemic-inspired program is guided by one goal: To settle disagreements between landlords and tenants outside of court and without an eviction filing, which can make it harder for tenants to secure safe and affordable housing in the future, even if a judge rules in their favor. From: WHYY (Read more.)
Amid an ongoing affordable housing crisis, a large Philadelphia landlord is facing a federal lawsuit for allegedly discriminating against prospective tenants with housing vouchers. The government subsidy enables very low-income families to rent on the private market. From: WHYY (Read more.)
The average interest rate for the most popular long-term mortgage — 30-year fixed — is more than double what it was a year ago, according to government-backed mortgage buyer Freddie Mac. The rate was 6.58% as of Nov. 23, up from 3.1% last year. From: The Inquirer (Read more.)
Can a four-year residency model ensure new teachers stay in the district? A Baltimore-based program that launched in Philly this year is betting on it. From: The Philadelphia Citizen (Read more.)
For many families, the EDP represents more than a financial transaction. By steering tenants away from eviction proceedings — a process in which less than 10 percent of tenants, compared with more than 80 percent of landlords, have historically had legal representation — Philadelphia’s program allows renters to avoid significant damage to their credit and their ability to secure desirable housing in the future. From: The Philadelphia Citizen (Read more.)
A few blocks from UC Townhomes, Green’s new place is a first-floor unit along the bus route she relies on to get to church and visit her family. It’s a bit further from the nearby amenities, but a bigger worry to Green is the gentrification that keeps creeping further west. From: BillyPenn (Read more.)
Philadelphia has resisted the trend, but the 2020 Parkway encampment forced the city to reconsider the low-cost housing option. | From: The Philadelphia Inquirer (Read more.)
Shondell Revell, of the city’s Office of Violence Prevention, said part of the money remains with the Managing Director’s Office, where it was originally earmarked, and some went to the District Attorney’s Office, which operates a relocation program for witnesses. | From: Metro Philly (Read more.)
In the coming weeks, the nonprofit will finish up repairs on a two-story rowhome in Hunting Park — the organization’s 1,000th project since launching in 1985. From: WHYY (Read more.)
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