Michael Iwan
Six Years of Stops, Starts, and Lawsuits. Foreclosure, whether for tax delinquency or mortgage issues, is never something homeowners want to deal with. But what happens to a property after the city or a lender takes control of it? There are two types of foreclosures: Tax Delinquency and Mortgage Foreclosure. In a tax delinquency foreclosure,…
Although AHCOPA primarily focuses on homeownership, we understand that rent prices in Philadelphia are a point of concern for our clients and their families. Nearly 50% of Philadelphians are renters of that 50%, over half of them are also cost-burdened. Unlike other major cities, Philadelphia has no form of Rent stabilization, control, or freeze regulations.…
I Listened To The Mayor’s Budget Address, So You Don’t Have To! What taxes are increasing and where is your money going? On Thursday, March 12th, Mayor Cherelle Parker unveiled her Fiscal Year 2027 (FY27) budget of $6.97 Billion ($B) in a two hour address to City Council. This budget is the largest proposal in…
What is Appraisal Bias? And What is Philadelphia Doing About It? Philadelphia has been looking to understand “Appraisal Bias” since 2021, when then Councilmember Cherelle Parker launched the Philadelphia Home Appraisal Bias Task Force. This task force was created to understand what appraisal bias is, and if it was affecting Philadelphia communities. What is Appraisal…
What is Credit? And How to Build it. With the new year comes many New Year’s resolutions. Many people set a New Year’s Resolution to purchase a house. But to be able to achieve this, a person needs adequate credit to qualify for a mortgage. Here is a helpful guide on what credit is and…
How Philadelphia Made a Landmark Investment in Housing: To Amend or Not to Amend the HOME Initiative? That is the Question. At the beginning of the year, Mayor Cherelle Parker introduced her “Housing Opportunities Made Easy” Initiative, or the H.O.M.E. Initiative for short. This initiative stems back to her Mayoral campaign, when she initially promised…
Lowering Temperatures, Rising Utility Costs It’s a beautiful time of year! The leaves are changing, the wind is getting chilly, and mosquitoes are disappearing for the season! But with these lower temperatures, and Philadelphia projected to see a colder winter than the last couple of years, Philadelphians need to begin preparing now so they are…
Philadelphia’s poverty rate consistently ranks as one of the highest in the country for major cities. Pew research has also found that Philadelphia has one of the highest tax burdens for lower income households for a major city. Right off the bat, this seems counter productive. If Philadelphians are already dealing with such high levels…
If you live in Philadelphia, you have most likely heard about SEPTA, the Southeast Pennsylvania Transit Authority’s, well known funding crisis. Due to significant lack of funds, SEPTA has been forced to reduce service, with the first round of reductions taking place last week, more cuts loom in the distant future, while current cuts planned…
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