Brick-by-Brick: A Nonprofit Funded by the Government to Decrease Foreclosures

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Since the Great Depression, our economy has not seen such devastating downturns. As a result, many of us have lost our jobs and subsequently, our homes. The current foreclosure crisis is affecting 1 out of every 5 Americans, Jonathan Lain (How to Solve the Foreclosure Crisis). So now the focus is on finding ways to solve the growing epidemic of foreclosures. I propose that the government fund a non-profit organization, whose mission is to reduce the number of foreclosures among the American people. Furthermore, although the initial funding would come from the government, as a non-profit, the agency would be able to obtain grants and hold fundraising events in support of their cause. The non-profit organization titled, …show more content…

However, the original homeowners would be allowed to live in their home, although the title ownership was reassigned. If the homeowners were unable to seek employment or stable income after two years, then the house would be sold to B-b-B. Upon title transfer, the homeowners still have an option to rent to own their property or live in homes provided by B-b-B based on family size. Requirement to live in a B-b-B home would be to attend Job training workshops (i.e. Engineering, Secretarial, Construction, Nursing) or matriculate at an Accredited University. In addition, if the individual has a disabling condition, substance abuse disorder, mental health or physical disability, then their income would be provided by the government and he/she would not have to attend any Job training workshops. It is also important to note that to guarantee that the individual is completing his/her goals in a timely manner, a case manager will be assigned to every twenty cases. B-b-B would also assist in empowering potential homeowners by holding workshops in schools, churches and community centers. The workshops (free of charge) would primarily center on understanding credit, money management, and mortgages. The credit workshops would teach students and potential homeowners the importance of keeping your FICO score around 700 and the simple ways to do so. The focus would be on the percentages that credit cards charge and paying back more than the

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