Chicago, IL–January 31, 2019 – Latest available *analyzed mortgage lending data indicates that Black American residents comprising 30.9% of the City of Chicago’s population, received only 5,032 (8.7%) of new mortgage loans. In contrast, Whites representing just over 32% of the city’s population received 32,782 (57%) of all new mortgages.
The Dearborn Realtist Board (DRB), the local chapter of the National Association of Real Estate Brokers Inc. (NAREB) the nation’s oldest minority real estate trade group is working to change this statistical landscape through accessible and accurate information about homeownership directed toward Black consumers. On Saturday, February 16, 2019 1:00 - 4:00pm Black Chicago area residents are invited to attend DRB’s Community Wealth Building Day to learn from lenders, government officials, and housing counselors how to build wealth through homeownership and understand that a home purchase is within reach.
The free event, held in conjunction with The Nation of Islam Saviors Day weekend will take place at McCormick Place, Sky Ballroom, 2301 S King Drive., Chicago, IL 60616. The event is expected to draw thousands of local and out of town guests.
“The Chicago mortgage lending disparity is beyond startling. Think how many of the city’s neighborhoods could be revitalized if more Black residents knew they could purchase homes. The city’s tax base would increase, more businesses could thrive in owner-occupied neighborhoods, and they would become desirable places to live, and
raise families. At the same time, homeownership improves economic futures for Black American residents,”
Consumers can expect to hear and talk to experts about: purchase assistance funds; understanding the mortgage process; what to expect from a lender and what questions to ask; the impact of student loans on mortgage loans; solving bad credit issues; the value of home ownership counseling, along with other key topics. Consumers are encouraged to ask questions from the experts to get the answers they need about home purchase or real estate investment strategies.
The day kicks off with a celebratory ribbon-cutting ceremony at 1:00 a.m. opening the Vendor Showcase and admittance to the consumer information homebuying sessions, the Clergy Roundtable, and complimentary lunch for all attendees. Families are encouraged to bring their children to have fun in the Kids Zone. Throughout the day, event participants can register for prizes including a flat screen TV, gift cards and other giveaways as they interact with Community Wealth Building Day exhibitors.
For more information and to REGISTER or VOLUNTEER for the FREE Community Wealth Building Day call Dianne Simmons 312-622-0584 or Email:email@example.com
Sign up online at Eventbright: https://tinyurl.com/y9s2nvdn