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Seedco in Baltimore
Seedco's work in Baltimore is focused on housing and administering our EarnBenefits® program.
Housing Services
In 2001, Seedco began discussions with Baltimore's Anti-Flipping Task Force about piloting Seedco's Combating Predatory Lending Initiative. The Task Force, spearheaded by the Director of Community Investment in the Baltimore Mayor's Office and the Director of the Community Law Center, includes representatives from the Baltimore Community Development Financing Corporation, local banks, housing counseling agencies, community-based organizations, the local Fannie Mae Partnership Office, and local government agency representatives. This initiative, "Baltimore HELP", was formally launched in 2002. The program was capitalized with commitments totaling $5.41 million over the program's 3-year period. Through HELP, we have provided counseling and education to over 30,000 individuals, financial literacy and credit repair counseling to 35 homeowners and closed 11 refinance loans, totaling over $600,000.
In addition to our anti-predatory lending initiative, under our National Housing Counseling Network, we work with three CBOs in Baltimore. We provide management support, technical assistance and pass-through funds to support the direct client counseling services of these agencies.
In 2005, in partnership with WMAR-TV, we conducted a day-long communications workshop for Baltimore CBOs who provide services for people who are prey to or already victims of predatory lenders. The workshop provided CBOs with strategies, activities, and a resource guide to reach and communicate with their target population. In addition, as we did in Memphis, we are partnering with a local university that can provide ongoing support to selected CBOs who lack the infrastructure to implement outreach strategies.
EarnBenefits
Seedco was awarded funding to incorporate our EarnBenefits program into the portfolio of client services that will be offered at partner Baltimore CBO sites. During the upcoming year, we will research benefits available in Baltimore, tailor EarnBenefits Online to the needs of Baltimore residents, and begin developing relationships with the local government agencies that are responsible for providing benefits to Baltimore residents. We will launch EarnBenefits in Baltimore in 2006.
For more information about Seedco in Baltimore, please contact Sara Johnson.
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