foreclosure

RI News
9:13 am
Wed August 28, 2013

RI Housing Forced To Layoff 30 Employees

The state agency charged with helping people buy affordable homes is facing a financial crisis of its own.  Rhode Island Housing is laying off 30 people; 15 percent of its workforce.

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.

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RI News
7:23 am
Wed May 29, 2013

Report Shows Minorities Disproportionately Affected by Foreclosure Crisis

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.  The report focuses on foreclosures in the capital city, where homeowners have lost tens of millions of dollars in wealth to foreclosed properties.

Between 2006 and 2012 Providence homeowners lost more than 200 million dollars in wealth due to the foreclosure crisis, according to “Wasted Wealth,” a report by the group Direct Action for Rights and Equality.

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Housing
10:13 am
Thu March 14, 2013

Better News on Rhode Island Foreclosure Front

Phoenix Affordable Housing
Credit Flo Jonic / RIPR

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.   Filings have fallen 36 percent since 2009, when data was first available.
The Mortgage Bankers Association says Rhode Island continues to lead New England in foreclosures and is tied for 7th nationwide.

Do you have insight or expertise on this topic? Please email us, we'd like to hear from you.  news@ripr.org

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