With her mortgage, assorted bills, and her daughter's private school tuition, Stallworth considered taking a second job. [...] she heard a radio story about ShoreBank, a community-development bank that was offering rescue loans for homeowners drowning in their adjustable-rate mortgages. According to the National Community Investment Fund, a nonprofit that measures the performance of CDFIs, more than 80 percent of ShoreBank's loan originations and purchases are in low- and moderate-income communities.
Banks as Heroes Adam Serwer The American Prospect; Jul/Aug 2009; 20, 6; Docstoc pg. A18 Reproduced with permission of the cop
Pages to are hidden for
"Banks as Heroes"Please download to view full document