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HABITAT FOR HUMANITY STRIKES AGAIN

Habitat for Humanity has the best of all worlds… it’s a real estate broker, it’s a property developer, it’s a mortgage lender, and it has some sort of reputation of doing good work in the community for underprivileged families in poor neighborhoods. Even after taking possession of a Habitat home with a low or no-interest loan, homeowners do fall behind on their mortgage payments. That’s what happened in Tampa and under Habitat’s own internal rules, the local office can not sell that mortgage to a re-developer… and yet that’s exactly what Habitat’s Tampa office did. The story hit the press and now Habitat has backtracked and is now making attempts to repurchase those troubled mortgages. Susan Taylor Martin of the Tampa Bay Times wrote the original story that caught everyone’s attention… she appeared on The Dougherty Report to tell the story.

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