Volume 25, Number 1

Enormous mortgage financing errors have been made in Florida – but not in affordable housing. We can take pride in knowing that homebuyers and renters living in the housing produced with Sadowski Act monies are not associated with toxic mortgages. The typical SHIP assisted homebuyer received pre and post purchase counseling and a fixed rate 30 year amortizing loan. If SHIP assisted homebuyers find themselves in foreclosure, the cause is likely to be job loss caused by the downturn in the construction industry or the recession in general.