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Area nonprofit working to create home buying opportunities for those hurt by mortgage crisis

“The mortgage and credit crunch has hit many Minnesotans especially hard, but one group is working to put people in homes, while at the same time restoring their credit.

SHOP (Sustainable Home Ownership Program) Home Mortgage, a non-profit based out of St. Paul, is working to get individuals who cannot qualify for traditional bank mortgages into homes using a buying strategy known as contract-for-deed. If the buyer is successful in the program, that person can transition out of the contract-for-deed into a traditional, fixed-rate bank mortgage.”