Tuesday, August 25, 2009
Mpls Fed's 'Community Dividend' Highlights Home Stretch Provider
The most recent issue of the "Community Dividend" (Issue 3, 2009) highlights the "New Markets Mortgage Program" - a home financing (mortgage) product that replaces interest payments with a higher-priced markup of the purchase price - in order to certain religious prohibitions on the charging/paying of interest.
Additional information about the African Development Center, the MN Home Ownership Center's network partner, and the New Markets Mortgage Program (NMM), and can be found here.
Additional information about "Home Stretch" the pre-purchase training workshop that all NMM candidates are required to attend, click here.
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