Banks are lending again in Detroit...if you live in the right neighborhood

[TexasTowelie]

They were an unlikely breakfast party: Harvard University students on spring break and long-suffering Detroit neighbors, plotting a comeback over coffee and hash browns.

The neighbors turned to the Ivy League because they had nothing to lose.

Immune to the revival surrounding them in Detroit, the residents of Chandler Park on the city’s east side hope the masters candidates can author a development plan to jump-start the neighborhood housing market.

Maybe then, they figured, they could get some help from City Hall.

“It’s worth saving,” said Deborah Hughes, treasurer of the Chandler Park Neighborhood Association, during the gathering earlier this month at a Coney Island restaurant.

Read more: https://www.bridgemi.com/detroit-journalism-cooperative/banks-are-lending-again-detroitif-you-live-right-neighborhood

[Freddie]

1. Interesting article

Quicken Loans is writing mortgages for smaller amounts (<$50000) that other banks won't do, as part of their community outreach as they are based in Detroit. We just re-fi'd with them, the process was incredibly smooth and now I'm really glad we did!

[Kittycow]

2. I've been watching The Shea Show on YouTube.

Generally speaking, it's a guy named Shea Woods who rehabs the couple thousand dollar homes in Detroit and rents them out/manages them for himself and other investors.

It's really interesting. He occasionally does ride-along videos showing empty hulks of houses with the most magnificent bones. He's lived there a long time and fills us in on Detroit's history.