As nonprofit organizations, credit unions are able to provide a wide range of financial products and services at a lower cost than other financial institutions. Since the statutory mission of credit unions is to serve predominantly the individuals and households underserved by mainstream lenders, many of them are making efforts to extend the availability of affordable home loan programs to a higher number of potential borrowers.
Manufactured Housing News
The current health crisis is wreaking havoc on the economy and people’s lives. According to industry data, about 30% of households have failed to make their full housing payments over the past few months. Even before the pandemic, about 70% of renters were severely cost-burdened, struggling to cover their rental obligations, monthly utilities, and necessities like food, clothing, medical care, and transportation.