A HOMEOWNER is spreading the word about the availability of tens of thousands of dollars in mortgage assistance programs for struggling residents.
Sandra Flowers-Thompson was at risk of losing the home she shared with her two daughters when she fell 22 months behind in her mortgage payments.
The Sacramento, California mother had faced economic struggles since suffering from health issues during the pandemic.
As a single mother of two girls, she said losing her home was her biggest fear.
“I needed help, but I didn’t know where to go,” Flowers-Thompson told local NBC affiliate KCRA.
“What was I going to do? Where was I going to go? What’s going to happen to me if I lose my home? It was a horrible and frightening place to be, and I was alone,” she said.
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The Greater Sacramento Urban League stepped in to help.
A little internet sleuthing had turned up the nonprofit organization, which offers a free counseling program for homeowners who meet the requirements.
Flowers-Thompson had stumbled upon just the type of assistance she was looking for.
She began working with a counselor from the Urban League, who was able to walk her through applying for grants from several local and state organizations.
The duo was able to secure $72,000 in free money to help pay off the overdue balance on Flowers-Thompson’s mortgage.
The money changed everything for the mom.
“Basically, [they] helped me save my house and I am so grateful to them for that,” she told local reporters.
AIMING TO HELP HOMEOWNERS
Most of the money that helped Flowers-Thompson came from a housing assistance program local to Sacramento County.
This program works specifically with homeowners to keep their properties and with first-time buyers to purchase new homes.
The goal of the organization is to achieve stability in homeownership, the director of the program Michael Altobell told KCRA.
“We as an agency are there to step in and provide guidance on how to deal with their lenders and look for resources that might help,” he said.
Groups like the Urban League try to meet homeowners where they are in terms of the types of services they provide.
“Those counseling sessions, they can go on for several months, weeks, whatever is needed by the client because everybody has a unique situation,” said Altobell.
COMBATTING RACIAL INEQUITY IN HOMEOWNERSHIP
The Urban League also focuses on reducing the economic disparities in homeownership felt by minorities.
Black homeownership was just 34% in Sacramento County in 2021 — 2% below the national average.
For comparison, white homeownership was 65% on average across the US the same year, according to the National Association of Realtors.
Because of these racial disparities, funding programs like this are essential, Scott Robertson of local Tri Counties Bank told KCRA.
“We are creating accessible programs to give advice and to help everyone enjoy this dream of homeownership,” said Robertson.
Flowers-Thompson told reporters that she hopes her story will inspire other homeowners to seek assistance when needed.
Source: I got $72,000 in free money just by making a phone call – the cash is available
