6 candidates for mayor spent time with our #futureBostonbuyers and discussed expanding homeownership opportunities, increasing access to affordable mortgage programs, funding a first-gen matched savings program, lifting the ban on rent control, and raising linkage fees. /1
“Massachusetts' historically racialized home mortgage market and resulting racial wealth inequalities indicate a need for programs like STASH, which creates equitable homeownership opportunities for families of color,” said @jittygurl /1 #bospoli#mapolimahahome.org/Dorchester-Bay…
MAHA today announced that the developers of Dorchester Bay City, a joint venture of Accordia Partners, LLC and the Real Estate Group of Ares Management Corporation, have committed $10 million to fund its STASH program for first generation homebuyers. #bospoli#mapoli /2
STASH provides homebuyer ed and matched savings for a down payment on a house in MA. Launched in 2019, the program is the 1st of its kind in the country and serves a population, first-generation buyers that is not widely recognized by policymakers or public. #bospoli#mapoli /3
.@andreaforboston talks about not being able to afford Roxbury and South End where she grew up. Answers yes to setting goal of at least 20% of city funded units being affordable homeownership for households making $45K and up. #bospoli
“My homeownership journey started with just a thought in 2012 because after paying rent since 2006 I realized that paying someone else’s mortgage was not helping me progress financially for my future. /1 #bospoli#mapoli#firstgenhome#firstgenfriday#blackwomenimpact
Since being on my own financially at 17,I’ve been very conscious of how to spend $ and living on a budget.Once I started paying rent, other…bills I started a spreadsheet and would record my net income and subtract my bills for each pay period./2 #blackwomenimpact#firstgenfriday
In 2013 I came across MAHA’s website and took the first-time home buyer classes, got educated on the process and realized I had to work on my financial situation first. /3 #firstgenfriday#blackwomenimpact#firstgenhome
Ashley Garrett asks about support for ONE+Boston and @wutrain says she will support expansion of this great program. #bospoli
.@wutrain commits to setting a goal of 250 ONE+Boston loans and writing to merging banks asking them to join program #bospoli
Donna King asks @wutrain to adopt goal of 25% of city housing funds going to affordable homeownership. She commits to work with MAHA on this goal. #bospoli
1/10 Announcing our big bold Homeownership Justice Vision, a sweeping 12 point plan to close the racial homeownership gap in Massachusetts. #mapoli#bospoli
2/10 We start with something old and something new! Our most affordable and most race conscious mortgage- the ONE Mortgage @mhphousing - must reach more first time buyers if we are going to close the gap AND our new first gen matched savings program needs to be scaled up. #mapoli
3/10 #expandthepie with linkage, PILOT, and an annual homeownership round @MA_DHCD and build more affordable homes while we strengthen CRA and @CFPB at the federal level. #mapoli#bospoli