Safeguarding Homeownership from the Impacts of COVID-19
As we know, the COVID-19 pandemic has been wreaking havoc on Americans’ health, well-being, and employment leading to a housing crisis for both renters and homeowners, particularly in communities of color. But over the past decade leading up to the pandemic, homeownership declined in nearly every community in Baltimore City and declined most dramatically in parts of the city with traditionally high homeownership rates. Statewide, the picture isn’t much better. What’s being done to ensure the racial wealth gap doesn’t get bigger?
The COVID Housing Preservation Coalition has been working on various strategies to preserve homeownership, using lessons learned during the Great Recession, and to end the practice of tax sales within Baltimore City. Others are focused on helping homeowners facing foreclosure once the moratorium is lifted. The Homeowner Assistance Fund, administered by the Maryland Department of Housing and Community Development, was established by the American Rescue Plan Act enacted in March 2021 to help homeowners struggling with their mortgage payments or other housing costs due to the COVID-19 pandemic. The program will create a long-term sustainable and affordable mortgage as opposed to short-term assistance without a clear outcome.
Join the Community Investment Affinity Group to hear about the issues and implications of declining homeownership in Maryland and Baltimore, as well as efforts to blunt the pandemic’s impact on homeownership. Participants will leave with a greater understanding of what investments, connections, and elements are needed, where funder’s interests are, and possible roles for philanthropy.
Our speakers will be:
- Hieu Truong, the COVID Housing Preservation Coalition and Community Development Network of Maryland
- Carol A. Gilbert, Assistant Secretary, Division of Neighborhood Revitalization, and Maddy Ciulu, Director, Single Family Housing, Maryland Department of Housing and Community Development
- Seema Iyer, Associate Director, Jacob France Institute
This program is for MPN members and invited guests only.
Issue Brief #2: Baltimore Community Change Project 2010—2020, Baltimore Neighborhood Indicators Alliance—Jacob France Institute (BNIA-JFI)