Frameworks Community Development Corporation (CDC) is a 501(c)3 nonprofit HUD-approved housing counseling agency. Our mission is to expand housing opportunities available for the impoverished, including low-and moderate-income residents of Central Texas.
We achieve our mission by obtaining affordable housing in order to provide safe and sanitary housing for such residents. This helps combat the deterioration of the community and contribute to its physical improvement. Furthermore, we provide assistance to these residents in the area of home-purchasing, financial literacy, credit education seminars, and business development.
Formed in 2004 as a nonprofit community development corporation, Frameworks CDC was granted its 501 (c)3 status in March 2005 and subsequently received its approval from the U.S. Department of Housing and Urban Development. In June 2005, Frameworks CDC launched an affordable housing and community redevelopment initiative for the impoverished in the greater Central Texas region. To increase homeownership, especially in low- to moderate-income households, Frameworks CDC provided financial literacy and homeownership education to overcome barriers preventing them from being mortgage ready.
Realizing that many homeowners were entering exotic, subprime and, in many cases, outright predatory loans, Frameworks CDC started a loss mitigation and foreclosure intervention program in February 2006. It wasn’t until late 2007 that the mortgage crisis really started having an impact, and by late 2008, many families were seeking help and relying on organizations such as Frameworks CDC to help find solutions to their mortgage woes.
In 2009, Frameworks CDC acquired its first foreclosed property. This sparked a passion to provide affordable housing to the impoverished and low-to-moderate families and give them an opportunity to live in the communities that were becoming too expensive. By doing so, they keep families in the communities that pricing is driving out but preserve the value of the neighborhood by rehabilitating often vacant and dilapidated houses.
To this day, prepurchase homebuyer education, mortgage delinquency counseling, and acquisition and rehab are the three pillars of Frameworks CDC’s service.
Frameworks CDC’s vision is to provide a comprehensive solution for impoverished families buying homes in the Central Texas area through education, referrals, and housing. The knowledge received through homebuyer education will help families make more informed decisions on loan products with the awareness that assistance is available. After the home purchase, if families find themselves in mortgage default, Frameworks CDC is the go-to advisor for guidance to help them avoid foreclosure. Lastly, Frameworks CDC wants to be the provider of affordable housing for renters and buyers looking to stay in the Central Texas area.