Have IDAs Helped Low-Income Homeowners Avoid Foreclosure?
Homeownership has always been an essential ingredient in the American dream and is one of the most important means by which low-income and minority households can build wealth. But as we know all too well from recent years, homeownership is by no means a risk-free proposition. Foreclosure can dash that dream, stripping owners of hard-earned investments. It can also devastate a community, leaving behind vacant houses that drag down property values for surrounding homes and drain tax dollars from cash-strapped local governments.
