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Home > Blogs > Middletown News and Issues > Archives > 2008 > May > 03
Saturday, May 3, 2008
Habitat for Humanity forced to start foreclosure actions
It’s been widely reported that the nation and the local area has been affected by the housing and credit crunch which has also led to a record number of foreclosure actions by lending institutions.
And problem is also being experienced by Habitat for Humanity, a nonprofit Christian organization which helps low income families purchase homes they help to build.
A recent story in the Cleveland Plain Dealer reported the organization there recently started four foreclosure actions for the first time in their 20-year history. In addition, there are other Habitat organizations that have been forced to foreclose on these homes.
Nationally, Habitat for Humanity foreclosure rate is less than 2 percent, according to the Plain Dealer.
Gene Snow, president of the Middletown organization, said 47 homes have been built over the past 20 years in Middletown, Franklin and Carlisle, but they have not had to begin foreclosure actions.
He said one of the Habitat homeowners went bankrupt, while two others sold their homes. Snow said the local Habitat organization purchased one of the homes that was being sold.
Snow said that didn’t mean that other families are not in trouble because many of them are on a shoestring budget.
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