The event is co-sponsored by the city and the nonprofit mortgage company, Neighborhood Assistance Corporation of America
lasts through Tuesday and includes workshops, individual counseling and technical assistance for renters living in and outside Newark.
Neighborhood Assistance Corporation of America Founder and CEO Bruce Marks says institutional racism in the form of requirements like a minimum credit score has little to do with a mortgage applicant's actual ability or demonstrated commitment to meet their obligations.Homeownership is particularly important in Newark, Baraka said, noting that only a quarter of city residents own their homes — less than half the statewide rate.
Marks is a former Federal Reserve Bank official who grew up in affluent Scarsdale, N.Y., where he saw wealthy whites take their privilege for granted while Black friends were denied opportunities.NACA has already been working with the Newark Housing Authority and the city’s economic development agency, Invest Newark, on programs to expand Newark’s homeownership, including converting federalFirst-time home buyer Patricia Hobbs joined Newark Mayor Ras J.
Rashad and Gislaine Edwards drove to the event from Manhattan’s Washington Heights neighborhood with the younger of their two sons, 5-year-old Noble.
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