*****COMMUNIQUÉ DE PRESSE***** 

POUR PUBLICATION IMMÉDIATE
April 25, 2022

CONTACT :

Tim Trumble - Coordinateur des médias ;  [email protected]

(BOSTON- April 25,2022) – On Tuesday April 26^e at 5:00 in the Baltimore City Hall (Clarence “Du” Burns Council Chamber), hundreds of Baltimore City residents will be participating in a crucial city council hearing to make homeownership a reality. This is a critical step before a final vote on the first-ever legislation for low-to-moderate income legacy Baltimore residents on a massive scale to purchase a city owned property for one dollar, access funds for the renovation and obtain extraordinary financing.

NACA working with Baltimore City Council President Nick Mosby, who is leading the effort,  to transform Baltimore and provide a national standard for affordable homeownership. This legislation will require the city to sell the thousands of city-owned buildings for one dollar to legacy residents, provide up to $50,000 in renovation grants, and obtain renovation funding like NACA’s Best in America Mortgage (i.e., no down-payment, no closing costs, no mortgage insurance at a below market fixed rate). 

NACA expects to assist and finance over 1,000 Baltimore city residents over the next 18 months. This will not just be huge for Baltimore but will set a national standard in equitable and affordable access to housing, especially for communities who must overcome systemic barriers.

“This is a first step to transforming Baltimore to address displacement,” states Council President Nick Mosby.  “Investors have been purchasing our properties and leaving our residents behind.  We have also seen the additional consequences of vacant houses when three of our City’s fire fighters were killed when fighting a fire in a vacant building.”

This is the largest in-person Baltimore City Council hearing since the pandemic.  The hundreds of NACA members will attend this hearing to send the message that all the city councilmembers to pass this legislation and for the Mayor of Baltimore to sign this legislation that will unravel the country’s first racial zoning law.

NACA Founder and CEO Bruce Marks said, “The legislation will show whether political leaders are on the side of corporate investors or with Baltimore residents who have been impacted by discriminatory redlining and are in a position to purchase city of Baltimore owned homes.”

NACA, known for its aggressive advocacy in support of homeowners, is committed to hold everyone accountable for their position on this precedent setting legislation. 

Background

NACA (NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA)
Créée en 1988, la NACA est la plus grande organisation à but non lucratif agréée par le HUD pour la défense des intérêts des communautés et l'accession à la propriété aux États-Unis. La NACA a été à l'avant-garde de la lutte contre les prêts abusifs et a été l'organisation la plus efficace pour fournir des solutions abordables à plus de 250 000 propriétaires pendant la crise hypothécaire. La NACA propose les meilleurs prêts hypothécaires du pays grâce à ses 45 bureaux répartis dans tout le pays. Le fondateur et PDG de la NACA, Bruce Marks, a été nommé "Meilleur prêt hypothécaire du pays". Bostonien de l'année pour l'année 2007 pour son travail visant à amener les principaux prêteurs et gestionnaires à modifier les prêts immobiliers. Il a également témoigné devant le Congrès à de nombreuses reprises, notamment le 12 septembre 2000, où il a été l'un des rares à tirer la sonnette d'alarme face à la crise hypothécaire imminente. Pour plus d'informations, veuillez consulter le site www.naca.com.