community development lenders believe that giving low-income people
the opportunity to own their own homes is the best way to help
families and communities. Home ownership provides security and
stability and motivates people to maintain and improve their property.
Home equity gives families a financial asset they can use as collateral
to start a business, or as a financial reserve during hard times.
found that 60 to 70 percent of the wealth of families, white
or black, was held in the equity that people own in their
home. We found that minority and rural and women entrepreneursto
have the kind of stake they needed to get started in a business--had
to first be able to own a home. So, we became preachers for
the importance of owning a home."
Eakes, Self Help Credit Union
are millions of women raising children by themselves in America.
They're not bad people. They've got plenty of family values.
They just don't have any money, and all they need is somebody
to give them a chance. But, if you don't have money, they
treat you like you're a bad person. You're not bad, you're
Kathleen Fitzgerald, homeowner
is a neighborhood that was revitalized by a home ownership program.
Fitzgerald was a single mother who had been turned down by
banks because she had medical bills on her record.