A recent blog post from Julia Isaacs for the MetroTrends blog (Urban Institute) highlights calls children the invisible victims of the foreclosure crisis. Julia estimated that "8 million American children,…
Category: General
Philadelphians Must File for Homestead Exemption by July 31
If you are a Philadelphian who owns and lives in your home, you can apply for a Homestead Exemption. The Exemption will reduce the amount of real estate taxes you…
Financial Well-Being of Low-Income Households Deteriorates
According to the Federal Reserve Bank of Philadelphia's Community Development Studies and Education Department, low-income households have seen their financial position deteriorate over the last two quarters. Furthermore, the organizations…
Many Modified FHA Loans Default
FHA mortgage foreclosure actions are on the rise, even for loans that have been modified. Although the FHA has modified some loans to reduce the monthly payments, about half of…
Homeownership rate at lowest point in 15 years
The Census Bureau reported that the homeownership rate in the US is at its lowest in 15 years. It is currently 65.4% down from a high of 69.2% in 2004…