The Greenville Journal has published an article about Habitat for Humanity’s bounceback after COVID-19 pandemic challenges.
…”Nearly 80% of prospective homeowners are single, Black mothers. Habitat has a goal to help homeowners break the cycle of poverty that’s dogged many of these women. With the rising cost of housing, Habitat homes have become more important than ever. Instead of paying $1,500 for rent, an average mortgage payment is $550 per month — which includes property taxes and insurance. The mortgage is financed directly through Habitat for Humanity, and as the organization collects mortgage payments, it builds funds to reach even more homeowners.
And the rate of foreclosure is incredibly low, [Chief Resource Officer Mark] Steenback said, about 0.6%. On-time mortgage payments are approximately 85-95%. Even during the pandemic, it was hovering around 92%, Steenback said.
‘That speaks to the strength of our programs,’ he said.”
Photo provided by Habitat for Humanity