foreclosure en Advocates Applaud Legislation Protecting Tenants After Foreclosures <p>Thanks to legislation that passed the General Assembly, banks in Rhode Island will not be able to evict renters in properties they’ve foreclosed on. That is, unless there’s just cause or until the property has been bought by a new owner. Rhode Island Coalition for the homeless head Jim Ryczek said the new law will protect people who might otherwise have nowhere to go.</p><p>“When the economy tanked in 2007-2008, the shelter system saw more than a 300 percent rise in the number of people coming in and naming eviction as one of the issues that caused them to be homeless.”</p> Sun, 22 Jun 2014 13:20:50 +0000 John Bender 35624 at RI Housing Forced To Layoff 30 Employees <p>The state agency charged with helping people buy affordable homes is facing a financial crisis of its own.&nbsp; Rhode Island Housing is laying off 30 people; 15 percent of its workforce.</p><p>Rhode Island Housing director Richard Godfrey says the reasons are twofold. There’s been a cutback in federal support and many of the 12,000 mortgages they have outstanding are delinquent.</p> Wed, 28 Aug 2013 13:13:14 +0000 Flo Jonic 20753 at Report Shows Minorities Disproportionately Affected by Foreclosure Crisis <p>Rhode Island’s foreclosure crisis has taken a much higher toll on people of color than on whites, according to a report released Wednesday by the group DARE – Direct Action for Rights and Equality.&nbsp; The report focuses on foreclosures in the capital city, where homeowners have lost tens of millions of dollars in wealth to foreclosed properties.</p><p>Between 2006 and 2012 Providence homeowners lost more than 200 million dollars in wealth due to the foreclosure crisis, according to <em>“Wasted Wealth,” </em>a report by the group Direct Action for Rights and Equality.</p> Wed, 29 May 2013 11:23:19 +0000 Flo Jonic 15992 at Better News on Rhode Island Foreclosure Front <p>Rhode Island still has the highest foreclosure rate in New England but the numbers are coming down. According to Housing Works RI, foreclosure filings fell 11 percent in the fourth quarter of 2012.&nbsp;&nbsp; Filings have fallen 36 percent since 2009, when data was first available.<br>The Mortgage Bankers Association says Rhode Island continues to lead New England in foreclosures and is tied for 7th nationwide.<br><br>Do you have insight or expertise on this topic? Please email us, we'd like to hear from you.&nbsp;</p> Thu, 14 Mar 2013 14:13:43 +0000 Flo Jonic 11918 at Better News on Rhode Island Foreclosure Front