Nonprofit Bank Buys Foreclosed Homes, Then Sells Them Back to Former Owners

BY Paul Solman  October 20, 2010 at 2:21 PM EDT

Editor’s Note: In tonight’s broadcast is the third installment of our Making Sen$e foreclosure series. We focus on Boston Community Capital, a privately and publicly funded, so-called ‘community development finance institution.’

In this web video exclusive, we talk to Elyse Cherry, CEO of Boston Community Capital, as to how and when BCC could be a reasonable alternative to homeowners who are in foreclosure trouble.

For more, watch the first — Show Me the Mortgage — and second — Boston Group Helps Homeowners ‘Stand Up, Fight Back’ Against Foreclosure — installments in the series.