NAACP Joins with Other Civil Rights Groups to Support Homeownership Month

NAACP Joins with Other Civil Rights Groups to Support Homeownership Month Efforts and to Stop Foreclosures

AS JUNE MARKS NATIONAL HOMEOWNERSHIP MONTH, THE NAACP ENCOURAGES MEMBERS TO CALL ON SECRETARY OF THE TREASURY TIMOTHY GEITHNER TO SUPPORT THE ADMINISTRATION’S EFFORTS TO DO MORE TO PREVENT UNNECESSARY FORECLOSURES AND TO HELP QUALIFIED FIRST-TIME HOMEOWNERS

Homeownership has long been the foundation of the American Dream, and to celebrate this dream June as been designated National Homeownership Month. The NAACP has joined with several other civil rights organizations to highlight the importance of homeownership to racial and ethnic minority Americans and to make sure our leaders do not forget many of the historical challenges we face and are still contending with today as we pursue the American dream. Specifically, as our national leaders wrestle with critical policy decisions, they must ensure that all qualified borrowers can still get access to sustainable, affordable home loans. Our leaders must also redouble their efforts to address unnecessary foreclosures, especially for the unemployed. With job searches lasting nine months, on average, our families need more support to protect their nest egg.

Furthermore, sustainable homeownership opportunities have not been equally available to all. For decades, communities of color, low-income families, women, and the elderly have frequently found themselves targets of wealth-stripping predatory lending, which has lead a disproportionate number of our friends, relatives and community members without a home , with bad credit, and without resources to fall back on. Too many racial and ethnic minority Americans were pushed into predatory products even when they had solid incomes and good credit. Proof of this can be found in overall homeownership rates: in 2009, while almost 75% of white families owned their own homes, only 46% of African Americans did. Furthermore, of the foreclosures made between 2007 and 2009, more than 77% were made against African Americans or Latinos. We cannot allow this to become the norm again.

To show their commitment to keeping the homeownership a reality for all, our leaders should: invest in housing counseling, keep responsible and affordable mortgage credit flowing to all neighborhoods and to all qualified borrowers, stop wrongful foreclosures, and support the development of affordable rental homes close to good schools and quality jobs.

The NAACP has joined with our friends at the National Council of La Raza, the National Coalition for Asian Pacific American Community Development, National People’s Action, the National Urban League, The Opportunity Agenda, and PICO National Network?and asking our members to call on Secretary of the Treasury Timothy Geithner and other leaders in Congress to put an end to the housing crisis and begin restoring the American Dream for all Americans.

People are encouraged to either text the word “HOME” to 62571 or to click on http://action.nclr.org/p/salsa/web/common/public/content?content_item_KEY=8756

to receive a call and in turn be patched through to the U.S. Department of the Treasury to deliver the message that homeownership is still an important goal for us. The Department of the Treasury has assured us that even if you leave a message on a voicemail box, that message will be relayed to the Secretary!

Action We should Take 

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