We are in the process of building a CLT to defend our homes and our neighborhood.
The COVID-19 crisis has made our mission all the more urgent. Financial crises have had a devastating impact on East New York residents. These same crises are an opportunity for predatory financial interests from outside the community. CLTs protect homeowners from economic downturns. Homeowners in CLT-owned homes are nine times less likely to be in foreclosure proceedings than those with traditional home mortgage arrangements. It is more pressing than ever to establish a strong CLT organization in East New York.
In our community of East New York and Cypress Hills we have the greatest number of family homes on the tax lien sale. The homeowners and tenants who live in these homes must not be made more vulnerable after this pandemic has put too many at financial risk.