{"id":109,"date":"2016-10-24T13:09:42","date_gmt":"2016-10-24T03:09:42","guid":{"rendered":"https:\/\/www.clt-associates.com.au\/wordpress\/?page_id=109"},"modified":"2017-02-13T12:01:02","modified_gmt":"2017-02-13T02:01:02","slug":"financial-institutions","status":"publish","type":"page","link":"https:\/\/clt-associates.com.au\/index.php\/financial-institutions\/","title":{"rendered":"Financial Institutions"},"content":{"rendered":"<h4><strong>Why do Financial Institutions want to finance Community Land Trusts?<\/strong><\/h4>\n<ul>\n<li>Low Risk: 10-15% of market foreclosure rate.<\/li>\n<li>Expanding market of qualified borrowers.<\/li>\n<li>Nationwide opportunity.<\/li>\n<li>Borrower is provided with support and education in financial literacy,\u00a0from the CLT.<\/li>\n<\/ul>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"alignnone wp-image-110\" src=\"https:\/\/www.clt-associates.com.au\/wp-content\/uploads\/2016\/10\/CLT-foreclosure-300x226.jpg\" alt=\"clt-foreclosure\" width=\"629\" height=\"474\" srcset=\"https:\/\/clt-associates.com.au\/wp-content\/uploads\/2016\/10\/CLT-foreclosure-300x226.jpg 300w, https:\/\/clt-associates.com.au\/wp-content\/uploads\/2016\/10\/CLT-foreclosure-768x579.jpg 768w, https:\/\/clt-associates.com.au\/wp-content\/uploads\/2016\/10\/CLT-foreclosure-1024x773.jpg 1024w, https:\/\/clt-associates.com.au\/wp-content\/uploads\/2016\/10\/CLT-foreclosure.jpg 1560w\" sizes=\"auto, (max-width: 629px) 100vw, 629px\" \/><\/p>\n<p>Source: <a href=\"http:\/\/www.lincolninst.edu\/publications\/working-papers\/stable-home-ownership-turbulent-economy\">Stable Home Ownership in a Turbulent Economy:<\/a><br \/>\nDelinquencies and Foreclosures Remain Low in Community Land Trusts, Lincoln Institute 2011<\/p>\n<p>CLTs are a great new opportunity for Banks and other financial institutions in Australia to expand the market that they serve.\u00a0 Although they serve moderate income households, the track record of CLTs demonstrates an extremely low default and foreclosure rate.\u00a0 Even at the most difficult time during the GFC, CLTs maintained a foreclosure rate around 1\/10 that of market rate housing.\u00a0 This is due to several reasons:\u00a0 Borrowers are usually prescreened for debt ratios and reliable credit and income.\u00a0 Borrowers are given extensive homeowner education and ongoing support in case of difficulty.\u00a0 CLTs maintain the first right of refusal in case of default, so in case of imminent foreclosure, the CLT will either purchase the property outright or find a new buyer to take over the defaulted mortgage.\u00a0 The bank retains its first mortgage and collateral on the property identical to other property.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Why do Financial Institutions want to finance Community Land Trusts? Low Risk: 10-15% of market foreclosure rate. Expanding market of qualified borrowers. Nationwide opportunity. Borrower is provided with support and &hellip; <a href=\"https:\/\/clt-associates.com.au\/index.php\/financial-institutions\/\" class=\"more-link\">Continue reading <span class=\"screen-reader-text\">Financial Institutions<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"full-width-page.php","meta":{"_price":"","_stock":"","_tribe_ticket_header":"","_tribe_default_ticket_provider":"","_tribe_ticket_capacity":"0","_ticket_start_date":"","_ticket_end_date":"","_tribe_ticket_show_description":"","_tribe_ticket_show_not_going":false,"_tribe_ticket_use_global_stock":"","_tribe_ticket_global_stock_level":"","_global_stock_mode":"","_global_stock_cap":"","_tribe_rsvp_for_event":"","_tribe_ticket_going_count":"","_tribe_ticket_not_going_count":"","_tribe_tickets_list":[],"_tribe_ticket_has_attendee_info_fields":false,"footnotes":""},"class_list":["post-109","page","type-page","status-publish","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Why financial institutions should finance CLT property owners.<\/title>\n<meta name=\"description\" content=\"A lender&#039;s risk is low when they finance Community Land Trust property owners. 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