To Increase Home Ownership in Urban Communities
August 14, 2017 – Boston – On August 15, 2017 at 7 PM EDT, OneUnited Bank, the largest Black owned bank in America, will host the #BuyTheBlock Facebook LIVE event to encourage first time home buying, refinancing and purchasing investment property in urban communities.
OneUnited Bank President & COO, Teri Williams, will moderate a panel of special guests including Thadine Brown and Cortina Vann, from Massachusetts Affordable Housing Alliance (MAHA) and Terrance Williams a seasoned real estate investor. The panelists will share their personal home buying stories, recommend tips including resources available for first time home buyers and discuss the “real deal” on real estate investing.
According to Time Magazine and Trulia, in 2016 the home ownership rate was only 41% for Black people compared to 72% for White people. That’s a 30% gap! The biggest difference between White and Black wealth is the equity we have in our homes. With the recent gentrification of Black communities across the country and the resulting increase in home prices, there is an urgency to help the community “buy the block” now!
“I want to scream at the top of my lungs, even if you have to buy a hut, buy something”, says President Williams. “Today there are many resources available to assist first time home buyers. You can also pool your resources with family to buy multi-family property. Just do something!”
OneUnited Bank offers some of the best home loan programs in the Boston, Los Angeles and Miami areas. The Bank is a preferred lender for first time homebuyers programs that provide down payment assistance including ONE Mortgage Program in Boston, the Boston Home Center, or the Miami-Dade Economic Advocacy Trust (MDEAT) Program. The Bank is also one of the top 100 lenders for multifamily properties in the country, originating over $100 million annually.
In Massachusetts ONE Mortgage is expanding home ownership. In 2015, while Black households accounted for only 4% of all home-purchase loans in Massachusetts, 11% of all ONE Mortgage loans went to Black people. In 2016, Black Americans accounted for 12% of all ONE Mortgage loans.
#BuytheBlock also marks the one year anniversary of the #BankBlack Movement. OneUnited Bank encourages the Black community and its allies to not only move their money or #BankBlack, but also move their minds to do more business with Black owned businesses or #BuyBlack.
Tune in to this event at www.facebook.com/oneunitedbank on Tuesday, August 15, 2017 at 7 PM EDT.
Media Contact:
Suzan McDowell, President, Circle of One Marketing [email protected] (305) 576-3790
ONEUNITED BANK:
OneUnited Bank is the premier bank for urban communities, the largest Black-owned bank, the first Black internet bank and a Community Development Financial Institution (CDFI). Its mission is to provide affordable financial services to support economic development in urban communities and maintain superior financial performance to maximize shareholder value. OneUnited is an FDIC insured bank and an equal housing lender.
