|
Adequate and affordable housing is critical to support economic stability—but navigating the many requirements for buying a home can be a barrier, especially for African-Americans who face a significant disparity in home ownership. Home ownership rates for African Americans is 48% (compared to 75% for Whites), and lack of savings, lack of information, and economic instability are the main barriers that keep many qualified families from buying a home. Financial planning to prepare for home ownership—and to deal with economic issues related to potential foreclosure—is critical to support long term financial stability. The Urban League of Greater Chattanooga offers several programs to assist individuals with financial planning and realizing their dream of home ownership.
|