News from our friends across the street at Champlain Housing Trust (CHT): A new study shows community land trust homeowners have lower foreclosure and delinquency rates.
The numbers come from a new report published by Emily Thaden, a researcher at Vanderbilt University, and the National Community Land Trust Network. They show "conventional" homeowners were eight times more likely to be in the process of foreclosure than land trust homeowners at the end of the fourth quarter of 2009.
The Mortgage Bankers Association says 4.6% of conventional mortgages were in foreclosure, compared to 0.6% of land trust mortgages for the study period.
Read more details in CHT's press release. And read the full report online.