Affordable Housing Project Aims to Revitalize Jacobsville Neighborhood on 44 News

Our affordable housing collaboration officially launched in Evansville, Indiana with Mayor Lloyd Winnecke and Evansville Promise Zone. We are thrilled to have such amazing coverage by 44News on how we are making an impact on families quality of life by owning a TruHome.

The Promise Zone and a company called TruVest are partnering to not only create affordable housing in Evansville but also create homeownership opportunities for the people living there.

Instead of knocking down homes, and building new ones, TruVest is renovating blighted homes in the Jacobsville neighborhood. At the same time, those who need affordable housing will have the opportunity to actually own homes instead of renting them.

This partnership will help provide first-time homeowners with the tools they need to keep their credit up, continue to pay mortgage payments and all the other things that go into owning a home.

TruVest co-founder Peter Bordes says, “We’re going to find a balance between what we renovate, and then what we do helping the land bank taking those empty lots, and then developing new homes on them, but always with the idea that we’re not looking to gentrify neighborhoods, and we’re not looking to make the prices go up. We want to be able to keep them in line with the integrity of the neighborhoods.”

Mackenzee Pagett and her two children will be moving into this first house within the next few weeks. She tells 44News Evansville she’s very excited being a first-time homeowner.


September carries greatest single-month-default surge in a ten-year period

Home loan defaults rose in September, producing the most extensive single-month-default increase in many years.

Defaults accelerated to 13.2% in September, the most substantial month-to-month increase since November 2008. This increased the nationwide default rate to 3.97%.

Generally, the month of September experiences an increase in defaults. Of the most recent 19 Septembers, 16 experienced increases, which brought the average default rate to 5.2%. This is the biggest jump in defaults for any single month.

UNCOVER MORE REAL ESTATE TRENDS

The 2nd variable that generated an increase in defaults was the fact that the calendar month finished on a Sunday, which generally causes a tremendous burden on defaults.

Moreover, Hurricane Florence, which swept the Eastern United States in September, impacted defaults to an increase of 38% month-over-month in the States it affected. Currently, more than 6,000 homeowners are delinquent as a result of being affected by the hurricane.

Foreclosures dropped 15.1% from August to virtually an 18-year low. This was actually down 11.5% from September 2017. The month's double-digit decrease brought foreclosed properties to 40,000 for the month.


Transparency = Caring

I hope you had a great week! For the past few weeks, we have been finishing up one of our properties in Indiana. We have agreed to sell it with owner financing to a local family. This family has a special needs child. We were supposed to close the transaction this week, but there was an emergency with their child to where they had to take him to OH for surgery. We had the family scheduled with our Title Company to sign documents and close. With this emergency, they could not close and the Title Company charges a fee for "No-Shows". I was able to talk to our title representative and explain the situation. She was very thoughtful and wiped out the fee. She then told me that when the family comes in to close next week she had a few gifts she wanted to give them. It really touched me, and I thanked her many times. She said something that reminded me why I am in the business " Ryan, we all go through tough times in life, and if we cannot help one another why are we on this planet". One of the core values we live by is "Doing The Right Thing". This situation definitely falls into that category! I am really excited to get this family into their home next week! I will share some pictures with you once we get them in.

https://truvest.co/best-day-close-mortgage/


The Platform Journey-Asset Details

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