The IRE website will be unavailable while we complete routine maintenance on Friday, April 16 from 8-10 am CT.
IRE favicon

Shop

Resource ID: #26375
Subject: Housing
Source: News-Press (Fort Myers, Fla.)
Affiliation: 
Date: October 13, 2013

$0.00

Description

The News-Press investigative reporter Melanie Payne learned that Habitat for Humanity of Lee and Hendry Counties had foreclosed on more than 100 homes in the last decade - 10 percent of the total homes it had built for low-income families in Southwest Florida. This conflicted with Habitat's reports of a foreclosure rate of less than 2 percent. A look at the financials showed that many homes were priced at over $150,000 and some as much as $230,000, and were sold to people earning less than $20,000 a year. In addition, the CEO was paid at a rate comparable to Habitat CEOs in major metropolitan areas. She had a total compensation package of nearly $180,000 - about $50,000 more than counterparts in bigger communities. The complicated financing and the group's resistance to any mortgage modification was found to contribute to the high foreclosure. This challenged the notion of Habitat being of service to low-income residents who couldn't afford a home any other way.

141 Neff Annex   |   Missouri School of Journalism Columbia, MO 65211   |   573-882-2042   |   info@ire.org   |   Privacy Policy
apartmentpenciluserscalendar-fullcrossmenuwarning linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram