Homeownership is becoming harder to achieve everywhere as demand outpaces supply. But housing and neighborhood nonprofits are using a variety of tools—some complex and some simple--to preserve and expand homeownership.
Last week, GOPC, with sponsorship from JPMorganChase, hosted a webinar that showcased four organizations that are keeping homeowners in homes and expanding access to homeownership to new generations.
Ashley Montana, recently with Franklinton Development Association, described how FDA’s door hanger campaign has educated residents on how to protect against predatory homebuying practices and the benefits of selling their homes to prospective homeowners instead of real estate investors.
Valerie Daley with LISC-Cincinnati discussed LISC’s “heirs properties” initiative, which is helping low- and moderate-income homeowners get their legal documents to ensure a tidy, fast, and legal inheritance of the family home after owners pass away.
Greg Perelka with Believe Mortgage (a subsidiary of CHN Housing Partners) described how their CDFI is one of the first in the Midwest to offer consumer mortgages. Believe Mortgage has mortgage products they have available to homeowners of all economic backgrounds.
Carlie Boos with the Affordable Housing Alliance of Central Ohio described a shared equity mortgage product that AHACO hopes to pilot in Columbus and Franklin Co. This product would help homeowners overcome downpayment challenges while still benefiting from any appreciation to the value of the home.
The webinar recording and speaker slides can be found here.
A big thank you again to JPMorganChase for their commitment to homeownership and housing in Ohio and beyond!