June 15, 2017
Thursday’s Advocacy & Think Tank Roundup
- Chicago is faced with many disparities between higher income and lower income residents. A recent study shows an additional disparity regarding the burden of property taxes on lower income residents. The root of the issue stems from the valuation of property. The county accessor’s office has an imperative role in determining whether lower income residents are able to live in their home or forced into foreclosure.
- Denver is not a city where individuals making two times the amount of the federal minimum wage may find affordable housing. A recent reporter followed the life of a tenant who began to loose her rental after two short months in the home. While she believes her case is unique, the city of Denver reported 8,419 eviction cases in 2016. Denver responded by using an “arm-in-arm” strategy to reduce the possibility of some 16,000 individuals who may be without a home.
- Stearns Lending now offers loans for million dollar homes with less than 10% down. As a result, qualifying first time homebuyers will be able to borrow an amount up to one million dollars. Additionally, if a homebuyer is experienced, he or she may qualify for a loan up to 1.5 million dollars.
