Ask Question, Ask an Expert

+1-415-315-9853

info@mywordsolution.com

Ask Basic Finance Expert

Neighborhood Housing Assignment:

Mercy Portfolio Services has received $100 million in TARP funds to help Chicago area homeowners who are facing foreclosure. They will buy up distressed mortgage debt and offer to forgive some of the debt so the homeowner will no longer be underwater. They will work with the homeowner to help them become current.  If successful, they will help the homeowner refinance. Alternatively, if this fails they will foreclose and sell the property. (See Crain’s Chicago Business, Sept. 26, 2011, p. 3.)
 
An agent of Mercy has asked for your help in evaluating the strengths and weaknesses in Chicago’s 77 neighborhoods to determine where it is best to place their funds. They would like to target neighborhoods where their investment is more likely to result in a successful rescue of homeowners from foreclosure.  Mercy needs a report that provides basic economic information on the neighborhood (e.g., available information on neighborhood history, employment/unemployment, income, commercial development, etc.), recent foreclosure and lending activity, and the movement of home prices. The agent asks that you provide information on one neighborhood. You can choose your own neighborhood or one that you find interesting or one where you can find the best data.
 
You can view some basic lending and foreclosure data by neighborhood on the Woodstock Institute website in their Fact book (http://www.woodstockinst.org/factbook/). You can use this data to discuss how hard the neighborhood has been hit by foreclosure, and who was and still is lending to this neighborhood. A comparison of data on this neighborhood to data for Chicago as a whole will provide some perspective. 
 
You can get home price information from the October 2010 and October 2011 issues of Chicago Magazine. The cover stories provides a good overview about current housing markets in Chicago. The 2010 issue is available on line at http://www.chicagomag.com/Chicago-Magazine/October-2010/Real-Estate-2010-House-Prices-in-Chicago-and-the-Suburbs/. The 2011 issue is available at http://www.chicagomag.com/Chicago-Magazine/October-2011/Real-Estate-2011-House-Prices-in-Chicago-and-the-Suburbs/ and in the Chicago Public Library. Sales and price data will provide some insight into change in value and the whether there is relatively weak or strong sales activity.  It will be useful to compare data for your neighborhood to Chicago area averages or to data for a neighborhood that you think is comparable. 

Accompanying your written report with graphic information on prices, sales, foreclosure and lending will increase its information value for Mercy.
 
You can bring in any anecdotal information you have about the neighborhood such as schools, employment, parks, transportation, etc. Google your neighborhood name and see what additional information and opinion is available. 
 
Finally, Mercy would appreciate your bottom line opinion on whether their program is likely to help homeowners in this neighborhood. There is no right or wrong answer. You will be graded on your presentation of the information you choose to include and on your overall assessment of whether the neighborhood will be a good fit for the Mercy program.
 
Your paper should be 3-4 pages double spaced, not including any attached charts and/or graphs.

Basic Finance, Finance

  • Category:- Basic Finance
  • Reference No.:- M91369

Have any Question? 


Related Questions in Basic Finance

1 suppose that debit cards atms ach transactions and other

1. Suppose that debit cards, ATMs, ACH transactions, and other forms of electronic funds transfers did not exist. How would this change the way you shop and pay bills? How would transactions costs in the economy be affec ...

Discuss options for giftsworking in small groups discuss

Discuss options for gifts. Working in small groups, discuss your experience with giving gifts at work. Have you ever given or received a gift in a workplace? Who were the people involved, and what were the gifts? Discuss ...

Bethesda mining company reports the following balance sheet

Bethesda Mining Company reports the following balance sheet information for 2015 and 2016. BETHESDA MINING COMPANY Balance Sheets as of December 31, 2015 and 2016 2015 2016 2015 2016 Assets Liabilities and Owners' Equity ...

Assignment budget planning and controlbefore approaching

Assignment: Budget Planning and Control Before approaching this assignment, be sure that you have watched the following video. • Budgetary Planning featuring Babycakes *FULL VIDEO*. (2016). YouTube. Babycakes, a specialt ...

You have to make a balloon payment on your house five years

You have to make a balloon payment on your house five years from now of $15,000. If money can earn an average of 6 percent a year for the five-year period, what factor will you use to determine what to deposit now?

Write a 750 to 1000 word paper in your paper include the

Write a 750 to 1000 word paper. In your paper include the following: Complete questions A through J for the Mini Case involving Shrieves Casting Company. Please complete the paper in actual paper format including an intr ...

Temple-midland inc is issuing a 1000 par value bond that

Temple-Midland, Inc. is issuing a $1000 par value bond that pays 8.5% annual interest and matures in 15 years. Investors are willing to pay $949 for the bond and Temple faces a tax rate of 20%. What is Temple's after-tax ...

Analyze a sales letter or email you receivebe on the

Analyze a sales letter or email you receive. Be on the lookout for sales letters you receive at home or through email. Bring one to class so you can discuss the example with other students. In small groups, discuss how t ...

Beta electronics is considering the purchase of testing

Beta Electronics is considering the purchase of testing equipment that will cost $633,000 to replace old equipment. Assume the new equipment will generate before-tax savings of $281,000 over the four years. The new equip ...

1 when an author submits a manuscript to a journal what is

1. When an author submits a manuscript to a journal, what is the general process by which the decision whether or not to publish the paper is made? 2. Distinguish between a paper session and a poster session.

  • 4,153,160 Questions Asked
  • 13,132 Experts
  • 2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Section onea in an atwood machine suppose two objects of

SECTION ONE (a) In an Atwood Machine, suppose two objects of unequal mass are hung vertically over a frictionless

Part 1you work in hr for a company that operates a factory

Part 1: You work in HR for a company that operates a factory manufacturing fiberglass. There are several hundred empl

Details on advanced accounting paperthis paper is intended

DETAILS ON ADVANCED ACCOUNTING PAPER This paper is intended for students to apply the theoretical knowledge around ac

Create a provider database and related reports and queries

Create a provider database and related reports and queries to capture contact information for potential PC component pro

Describe what you learned about the impact of economic

Describe what you learned about the impact of economic, social, and demographic trends affecting the US labor environmen