We’ve had more than 2,000 families complete a pre-application to buy a home through Habitat Wake in the past two years. Only about 10% of those families will eventually be approved for homeownership through Habitat and the biggest culprit in preventing approval is a poor credit history.
Predatory lending products are a big part of that debt trap that many families find themselves in and that trap prevents families from taking advantage of the wealth-building that homeownership provides.
Check out the video that Habitat for Humanity International has produced and join in the fight to prevent the unfair debt products from being offered. #StoptheDebtTrap
Here’s a statement from Habitat addressing currently proposed legislation.
And another short video from U.S. Senator Jeff Merkley from Oregon. Sen. Merkley previously served as executive director for Habitat for Humanity in Portland earlier in his career.