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The Malden Observer Features BCC’s SUN Initiative in “A New Year in the family home.”

Friday, December 28, 2012

Boston Community Capital’s SUN Initiative was featured in the Malden Observer article, “A New Year in the family home.”  The article, written by Chinyere Cindy Amobi, describes how one Malden resident was able to save his family home with help from SUN.

Steven had lived in his Malden home under his family’s name for 10 years when he learned that his stepfather had stopped paying the mortgage after falling serious ill.  While Steven had consistently paid his rent, his home was in foreclosure and 30 days away from being auctioned off.  “Determined to keep the home, he attended the auction and placed the winning bid.” 
 
“Then his real troubles began.”
 
“Earning a steady income as a sales manager for a large health insurance company, Steven considered himself the perfect candidate for a loan. However he soon found that no bank or firm would help him finance his new mortgage, due to an inaccuracy in his student loans and a credit score in the low 600s.”
After trying 20 different lenders he found Boston Community Capital who was able to finance his mortgage and who he thanks for saving his family home.
 
‘“They allowed me to stay in my home and brought a very stressful year of my life to a happy close,’ he said. ‘I think that’s emblematic of what they do. My hair is a little grayer, but the SUN Initiative was definitely the light at the end of a very dark tunnel.”’