Community Development Corporation
David Vinciarelli-Vice President
Dr. Bill Byrne-Treasurer
Bad borrowing and lending practices have resulted in high foreclosure rates in Frayser. Foreclosures are devastating to individual families. They also have a negative impact on the entire neighborhood since they remain empty for a long time and lower surrounding home values. Frayser CDC recognizes that one of the best ways to combat the increasing foreclosure rates is proactive intervention. The organization initiated financial literacy in its campaign by offering free default counseling, credit counseling, and assistance in refinancing high-risk Adjustable Rate Mortgages (ARMs).
Educating homeowners about the variety of options available is pivotal in the campaign to combat the far-reaching affects caused by devalued properties and questionable loan terms. Predatory and sub-prime loans have been growing issues for borrowers and the correlation to foreclosure is seen as a root cause in the Frayser area.
BOUNDARIES: CLICK HERE to get boundary map.
The mission of Frayser CDC is to spark meaningful dialogue about the need for change and put forth effective solutions for the growing home-affordability problem. Frayser CDC strives to add vitality to the local economy by improving the understanding of affordable homes, and in doing so, improve the quality of life for communities by bringing stability to families.
Frayser CDC, in
this time of rapid change in real estate and mortgage industries, promotes
home ownership and is positioning the Frayser community as a beautiful,
affordable, and conveniently located community.
Homes For Sale/Lease