Additional CIC Borrower Success Stories

Ford Heights Cooperative, Inc.

For 10 years, residents from a Ford Heights cooperative worked to win back their homes from the US Department of Housing and Urban Development, which had taken over ownership due to poor management and missed mortgage payments. The single-family homes had deteriorated during that period and required major renovations. For two years, CIC worked with the co-op members to put a deal together, which resulted in a CIC loan and a Federal Home Loan Bank grant. A portion of CIC funds was used to train the co-op members to better manage the property and operations. Today, these 100 three-bedroom homes are fully rehabbed and 100% occupied.