NY Times Features Article on BCC's SUN Initiative
Boston Community Capital’s SUN Initiative was featured in a NY Times article titled, “Finding in Foreclosure a Beginning, Not an End” by John Leland. The article tells the story of Jane Petion and how BCC helped her keep her home.
Jane Petion lived in her home for 15 years and saw its value rise slowly, rise rapidly and, when the housing bubble burst, plunge at a sickening pace that left her owing $400,000 on a house worth closer to $250,000. With the help of BCC, Jane signed a new mortgage on her house for $250,000, with monthly payments of less than half the previous level. She and her husband now have a mortgage they can afford in a neighborhood that benefits from the stability they provide.
