NPR's All Things Considered Features Story on BCC's SUN Initiative
Boston Community Capital’s SUN Initiative was featured on NPR’s All Things Considered, Monday, January 2nd. The story, “In Mortgage Crisis, Some Banks Agree to Cut Losses,” by NPR’s Aarti Shahani, explains how BCC’s SUN Initiative is helping families, like Sharon Jordan’s, repurchase their homes with mortgages they can afford. Lenders, including Bank of America, are realizing that the SUN Initiative benefits not just the homeowners, but the lenders as well.
BCC’s CEO, Elyse Cherry, explains: "Sell everything that you've got at current market prices, so that you clear your books, you take your losses. And then you, as a healthier lender, can go back out and lend some more."