This is the first post in our series on minority homeownership, with a focus on why taking into account the shared history and culture of your community is key to helping minorities get and keep their homes.
Payday and auto title loans offer a quick way to get money, but they come at a high cost. To make matters worse, they often must be repaid in a matter of weeks. Across the country, 12 million adults use payday loans annually, according to a study by Pew Charitable Trusts.
The winter holidays and the start of school are times when expenses can suddenly spike. Many low- to moderate-income families are unable to cover them, turning instead to expensive, predatory payday, auto-title or similar loans. Clearly, a safe alternative is needed.
I recently spent a week working on Hurricane Harvey clean-up efforts with NeighborWorks network member Avenue and Fifth Ward Community Redevelopment Corp. in Houston.
The news is awash with the damage wrought by hurricanes Harvey and Irma. But these natural disasters should not have surprised anyone; they are only the latest in a string of worsening weather events that is expected to continue.