The new property management firm launched by the 1.8million-member, $25.5 billion State Employees' Credit Union has a somewhat unusual goal,whenever possible to help foreclosed members stay in the homes thecredit union has just had to take over.
|“What we hope to do is, in certain cases when we have toforeclose, is to rent the property back to the homeowner whocouldn't afford the mortgage payments,” said Leigh Brady, seniorvice president for SECU and in Raleigh, N.C.
|The goal, she explained, is to help reduce trauma to thehomeowners and their family during a trying time and to keep themstable. Families staying in the homes remain in the sameschool districts, for example, and provide stable renters for thecredit union.
|The new property management firm, known as SECU*Real Estate, or SECU*RE, will also work with real estateprofessionals to sell homes as well as with contractors to remodeland rent homes, particularly in the Durham, N.C., area, Bradyadded.
|Complete your profile to continue reading and get FREE access to CUTimes.com, part of your ALM digital membership.
Your access to unlimited CUTimes.com content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical CUTimes.com information including comprehensive product and service provider listings via the Marketplace Directory, CU Careers, resources from industry leaders, webcasts, and breaking news, analysis and more with our informative Newsletters.
- Exclusive discounts on ALM and CU Times events.
- Access to other award-winning ALM websites including Law.com and GlobeSt.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
