Homeownership Dream Becomes a
Reality for Chippewa Cree
Creative partnerships such as the one involving Native American
Bank, Native American Community Development Corporation, and
the Chippewa Cree of the Rocky Boy’s Reservation in
Montana have brought the dream of homeownership, or the ability
to remodel or purchase a new car, to many who would otherwise
be unable to reach these goals.
“The biggest difference I’ve seen is in mortgages,”
said Sue Hay, Executive Director of the Tribal Housing Authority
on Rocky Boy’s. “Before, banks didn’t want
to come out on trust land.” The problem, according
to Hay, was that trust land offers limited collateral value
to a bank. Without a complicated process through the Bureau
of Indian Affairs to receive title status on a leasehold,
a bank has limited options should there be a problem with
the loan.
For the Chippewa Cree Tribe, homeownership is becoming a
reality for many tribal members—a dream many thought
impossible. General financial education, community-based
training, and access to information to help prepare for and
receive a home mortgage represent key aspects of achieving
the homeownership dream.
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