Last year’s Chronicle story about a homeless San Francisco family who almost lost a housing opportunity because of a tiny amount of debt and the resulting bad credit hit San Francisco Treasurer Jose Cisneros and other city officials hard.
Now, his office is working to make sure other families living on the financial edge don’t lose their homes and instead, can climb their way out of poverty.
The Treasurer’s Office of Financial Empowerment was recently awarded a nearly $443,000 grant from the U.S. Department of Treasury that will allow them to explore ways to build credit and reduce eviction risk among public housing residents in the city. The program will offer working public housing residents financial counseling, matching savings accounts, and electronic payment of rent — which will all help raise their credit scores.
More @ SFGate
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