• A Foreclosure StoryRead about an all-to-common foreclosure story and see hear how it affects your neighborhood.
  • Mapping the ChallengeSee where foreclosures have occurred in Mpls and St. Paul.

Foreclosure Hurts

Bill and Joan bought a house 7 years ago. They loved their neighborhood and were active in their community. But they hit a rough spot. Bill lost his job and Joan’s income wasn’t enough to pay the bills. After a struggle and much anxiety they were approached by a trusted friend who recently became a mortgage broker. He encouraged them to access their home equity to pay the bills. They were given a subprime loan even though they qualified for a conventional loan.

Three years later, things were still tough. They received a notice in the mail that their monthly payment was increasing by $600. They couldn’t pay their bills (again) and seeing no other option, gave up. They walked out the front door, leaving behind a pile of debt.

The home sat vacant for more than six months during the foreclosure process. Boards were put on the house by the city, but that didn’t keep people out. The copper was stripped and the appliances were stolen. Squatters began to sleep there illegally. It became a place for the unfriendly elements of the neighborhood to gather.

A home that once was a healthy, productive place for a family fell victim to life’s circumstances and eventually a criminal element. Urban Homeworks is responding to this problem. We are turning boarded houses into homes once again, and challenging you to be a part of the solution.