The Mashantucket Pequot Tribal Nation of Connecticut has implemented new laws to help tribal members realize the dream of homeownership.

The tribe assigns individual parcels of land to members. The members can then apply for home mortgages using the land as collateral.

If the mortgage goes into default, the lending bank can foreclose in tribal court. The tribe, or other tribal members, can bid on the land.

The changes in law helped spur a new housing development. About 100 single-family homes and a half-dozen two-unit townhouses are being built on 120 acres on the reservation.

Get the Story:
Home Equity Comes To Mashantucket (The New London Day 5/11)
pwday

Relevant Links:
National American Indian Housing Council - http://naihc.net

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