Folks who live in Baltimore, MD are being introduced to a pretty big offer from a nonprofit organization. If you are a resident in Baltimore with a modest income, you will have the opportunity to secure an affordable mortgage, according to a recent report.
"The Neighborhood Assistance Corporation of America, working with two major national banks and blessed by the federal government, is also pioneering the effort to help residents convert federal Housing Choice, or Section 8, vouchers into equity-building mortgage payments," according to National Mortgage News.
"The charity, known as NACA, has generated a buzz in the city: 2,000 people have pre-registered for an event that kicks off April 26 and ends on April 30."
Recent studies show that a majority of Baltimore's renters are living in housing that is beyond what they can afford. The report states that the need for affordable housing is "dire" and this move looks to help remedy that situation.
Folks who are earning a modest income in other cities across the country should expect the NACA to make their rounds sooner than later. According to the report, the NACA will continue its "Achieve the Dream" tour in more cities, thanks to $13 billion in loan commitments via Bank of America and CitiMortgage.
To learn more about the NACA's program in Baltimore, click on the image above.