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The vigilante accused of holding migrants at border to appear in court today. Also on our Monday rundown: The US Supreme Court takes up including citizenship questions on the next census this week. Plus, Earth Day finds oceans becoming plastic soup.

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NH Community Loan Fund Bucks the Mortgage Foreclosure Trend

October 6, 2008

Concord, NH – One mortgage lender in New Hampshire is bucking the national foreclosure trend, even though its customers are considered "high risk" because of lower incomes or less-than-perfect credit. The New Hampshire Community Loan Fund is not seeing the wave of loan defaults that much of the market has experienced.

The Fund's vice president, Al Cantor, credits their combination of education and coaching with each loan.

"We want our borrowers to be successful and historically they have been. We have lost less than one percent of all the loans that we've made in our 25-year history."

Cantor believes their successful business model is one that can be copied by mortgage companies trying to recover.

"When you keep things simple and fair and local, then people on both sides trust you. Your investors and your borrowers have faith in you."

Cantor believes mortgage companies used to focus more on their customers' success in the years before deregulation. But when the rules were lifted, he says, some companies and employees were even rewarded for getting customers into loans they could not afford.

Deborah Smith/Chris Thomas, Public News Service - NH