Atlanta’s Mayoral candidates will present their positions on the city’s affordable housing crisis during an online Mayoral Candidates forum hosted by NACA on Saturday, October 9th at 9:00 a.m.
All 14 candidates have been invited to participate in the forum, which will begin at 9:00 a.m. A majority of the candidates have confirmed that they will participate in the forum, and others are anticipated to accept prior to the event.
This will provide each of the attending candidates the opportunity to share their housing plans for the city and interact with an online audience predicted to exceed 1,000.
NACA will also present a Homebuyer’s Workshop at the event, highlighting its Best in America mortgage program that features no down payment, no closing costs, no fees and a fixed below-market interest rate. Low- and moderate-income buyers get a 2.0% rate for a 30-year term and 1.375% for a 15- year term (as of 10/6/21).
The spike in housing prices since the beginning of the pandemic has amplified what was an already a tightening housing market. Affordable housing is now extremely hard to find with home prices in the U.S. having reached their highest levels ever.
NACA founder and CEO Bruce Marks stated, “NACA is hosting this very important event to hear from the city’s Mayoral candidates about their plans for affordable housing, which has become a huge issue in Atlanta and nationwide, and to showcase our Best in America mortgage and its ability to break through the barriers to homeownership that have prevented primarily low and moderate income and minority homebuyers from achieving the American Dream of homeownership and building generational wealth.”
Bank of America has committed $15 Billion to the NACA mortgage. More than 70,000 homes have been purchased through the NACA program and 85% of NACA homebuyers and homeowners are people of color. NACA’s Atlanta area office is the busiest of the 45 NACA offices nationwide, closing on more mortgages each year than any other office.
Additionally, NACA offers the HOT-PHA program, which allows recipients of the Housing Choice Voucher program to achieve affordable homeownership. NACA’s RICH program affords city residents opportunities to purchase and renovate homes owned by the city and affiliated entities, with renovation funds being built into the NACA mortgage.
The nation’s affordable housing crisis extends to renters as well. Thousands of Atlanta area renters, many of whom endured job losses during the pandemic, are now facing eviction after the Supreme Court struck down the federal eviction ban. Protests have occurred in and around Atlanta demanding reinstatement of moratoriums and cancellation of past due rent.
NACA is now working with at-risk renters in Atlanta and nationwide to help them access some of the more than $47 Billion in Emergency Rental Assistance funds available to prevent evictions. Less than ten percent of these funds have been accessed to date, largely due to inconsistent and over-complicated programs administered by state and local governments and organizations that distribute the available funds.
NACA’s Home Save program has also seen a sharp rise in homeowners asking for help after falling behind on their mortgages for reasons beyond their control. The Home Save program helped more than 250,000 homeowners obtain affordable mortgages since 2007.
The upcoming Mayoral Candidates’ Forum will be a major event in determining the future of Atlanta’s city government and the direction it takes toward affordable housing and economic justice.