William Yardley of the NYTs writes about local intervention methods for homeowners, bringing up the use of ‘rescue’ loans….which are apparently even occurring in affluent Seattle. Their program is modest, but they have made a few loans of about $5k to assist people in danger of losing their homes.
For sure our ‘crisis’ exemplifies why someone losing their home is not something that operates in a vacuum, affecting only one person or family. Here of course we have a lot of people losing their homes. Add to that all the people who have lost their jobs and a population loss….well then you have our situation in Cleveland. Anyway, there are a lot of people on both sides of the ’should homeowners be bailed out’ issue. This article speaks to and about some of the talking points.
As a matter of fact, Lou Tisler and Neighborhood Housing Services of Greater Cleveland are mentioned (and Lou is quoted). One analogy brought home the point to me. Looking at rescue loan programs is like ‘giving someone a vaccine. You are hoping to keep others from getting sick.’ When we look at tax money and abandoned property issues in our neighborhoods, we can see that a vaccine could have been helpful. Peace out - 3C
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