We are a private, national foundation that works to expand opportunities in America’s cities through grantmaking and social investing in arts and culture, education, environment, health, human services and community development in Detroit.
Aura Mortgage Advisors helps families who have a steady income – but can’t make their monthly mortgage payments due to hardship – remain in their homes. This guarantee supported SUN’s application to the CDFI Bond Guarantee Program (BGP). The successful application unlocked $100 million of long-term fixed-rate financing to scale SUN and encouraged the BGP to adjust its structure and underwriting criteria to permit a wider range of community development projects for financing.
Stabilizing Urban Neighborhoods (SUN)
Connecticut, Massachusetts, Rhode Island, Maryland, Pennsylvania, Chicago and urban areas of New Jersey