Cherry's Foreclosure Relief Work on PBS NewsHour

Elyse Cherry, TPI Board Member and CEO of Boston Community Capital (BCC), was featured last night on PBS NewsHour in a piece entitled, Boston Firm Offers Homeowners a Second Chance After Foreclosure.  The second installment in a series highlighting the mortgage crisis, BCC was recognized for its foreclosure relief work that offers individuals who have lost their homes a way to regain ownership at market rate.  In the third installment, Cherry sits down one-on-one with NewsHour correspondent Paul Solman to discuss how and when BCC can help homeowners facing foreclosure.

Also this week, in recognition of their foreclosure relief work, BCC received a $5.5 million Wachovia Wells Fargo NEXT Award in Opportunity Finance.  The award, which recognizes excellence among financial institutions that responsibly serve low-income and low-wealth people and communities, is financed by the Wachovia Wells Fargo Foundation and The John D. and Catherine T. MacArthur Foundation.  BCC will use the award to expand their foreclosure relief efforts beyond Boston and Revere to other communities in Massachusetts.

Established in 1985, BCC is a community development financial institution whose mission is to build healthy communities where low-income people live and work.