November 25, 2011

CDBG and HOME at work in Arlington, Texas

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It wasn’t that long ago when residents along Jordan Lane in Arlington, Texas wouldn’t dare walk down the street day or night.  But thanks to HUD’s Community Development Block Grant (CDBG) and HOME Programs, Jordan Lane is a real neighborhood again.

City planners in Arlington sought to revitalize this west-side neighborhood, starting with 11 blighted properties.  Today, this transformation not only increased surrounding home values but improved the quality of life for residents.

 
Visit the City of Arlington’s website to learn more about Jordan Lane and the progress made so far.

One Response to CDBG and HOME at work in Arlington, Texas

  1. I have worked in the mortgage industry for 30 years. My most recent position was with a company which provided reverse mortgages and I wasn’t comfortable with the products. I don’t understand why borrowers who want a fixed rate HECM have to take the maximum loan limit. If borrowers have a house valued at 300K and only want $50K in a loan, they shouldn’t have to take more. I feel this process causes an increase in defaults. When I asked the management team about the requirement, the answer was that investors don’t want to buy loans that are for the lower amounts which again is part of the greed issue at the backs of the borrower. I think we need to offer products that really help the seniors and not something that uses all of there equity.

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