Nothing quite raises the blood pressure like sinking under bad credit problems, or having to come up with tens of thousands of dollars to get through the homebuyer process.
Or, probably worst of all, losing a home to imminent foreclosure.
With that in mind, National Investment Division – Housing Counseling Agency San Bernardino/Riverside Counties is hosting local outreach events to help the community stay calm while learning to take care of business.
While they wait, they can also get their blood pressure checked.
Alvin Toney, NID branch manager, said their events offer a stress-free way for the community to stay on top of their personal finances.
“We have a certified nurse that will be there,” said Toney. “They’ll check for high blood pressure, and also check diabetes.”
The events will connect the community with professionals for help in several important areas. The housing counseling agency, backed by HUD, will host vendors, health professionals, and a wealth of information, as well as lenders on site.
On Saturday, July 13, one event will be held at 23945 Sunnymead Blvd. in Moreno Valley, which runs from 10:00 a.m. to 4:00 p.m.
On Saturday, July 20, they are also hosting a full day of resources at New Hope Family Life Center, located at 1505 West Highland Avenue San Bernardino, from 10:00 a.m. to 4:00p.m. They will have refreshments, games, raffles, and face painting for the kids.
Among the many personal finance and homebuyer topics covered, they will discuss wills and trusts, credit and budgeting, the escrow process, and how to understand loans. Some may also find money to purchase a home that they didn’t know existed.
Foreclosure prevention solutions will be available. Toney said the NID has saved many homes this year, and some banks are willing to help the community.
“We’re trying to get the word out that there is help,” he said. “You don’t have to give up your home. In the African American community [property] is the number one of source of generating wealth.”
About ten years ago, the massive foreclosure crisis hit Black and Brown homeowners the hardest, locking them into high priced subprime loans, although studies showed many qualified for prime loans.
This time around, he feels unemployment is negatively impacting Black and Brown communities. Even at historic lows, he said unemployment still runs twice as high among African Americans as whites.
These days, homeownership among African Americans is now scraping the lowest rate in decades, lower than Latinos or whites.
Last week, Kamala Harris unveiled her proposal to put $100 billion toward getting more support for Black homeownership that could come down in the form of grants to help close the widest racial gap since real estate discrimination was legal during the 1970s.
The loss of African American wealth in homeownership has devastated the community, and he sees foreclosure activity starting up again. Mostly, he feels it’s because of job loss, too much credit card debt and car debt that is causing a ripple effect......
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