According to a report by the home services website Porch.com, the homeownership rate in Miami is the third-lowest in the U.S., behind only Newark and Jersey City in New Jersey. Also – In 2019, Freddie Mae ranked cities’ affordability and Miami is the least-affordable city in America, followed by San Diego, New York, Los Angeles, and Orlando. Miami is home to the most rent-burdened people in the U.S., meaning residents here pay more than 30 percent of their annual income on housing.
With that being said, NACA, the nation’s largest non-profit homeownership and advocacy organization, is bringing the first-ever Economic Justice Expo for four days, (May 12-15), to theMiami Beach Convention Center (1901 Convention Center Dr., Miami Beach, FL 33139).
This will be a unique community event with thousands of participants to help homebuyers qualify for NACA’s Best in America Mortgage, homeowners to modify their unaffordable mortgage, and renters to access the government’s $47 Billion in rental assistance.
Thousands of homebuyers will receive same-day mortgage qualification for NACA’s extraordinary mortgage: no down-payment, no closing costs, no mortgage insurance at a below market fixed rate 3.75% – 30-year fixed (as of 4/6/22) without consideration of one’s credit score.
Homebuyers, homeowners, and renters will receive on-site housing counseling assistance, and all will have access to other community services.
All NACA services are free of charge. Doors will be open 8:00 a.m. to 8:00 p.m. each day. Registration for the event is at www.naca.com and walk-ins are welcome.
NACA Founder and CEO Bruce Marks observed, “Corporate investors are stealing the American Dream of homeownership. NACA’s mission of Economic Justice has grown exponentially since we were the first to campaign against predatory lenders in the 1980s and coined the term “Predatory Lending”. NACA continues to be in the forefront fighting for and providing unprecedented solutions for people of color in addressing systematic racism and the widening racial wealth disparity gap.”
The Economic Justice Expo solves the implementation bottleneck that has prevented the massive infusion of government funds going to those in greatest need. Thousands will take a major step forward toward owning or saving their homes in a single day, without them having to go it alone thanks to NACA’s advocacy and support. Additional services and resources will be available, including social, health and human services, along with financial and government assistance programs.
Started in 1988, NACA is the largest HUD-approved nonprofit, community advocacy and homeownership organization in the United States. NACA has been the forefront in fighting predatory lending and has been the most effective organization in providing affordable solutions to over 250,000 homeowners during the mortgage crisis. NACA provides the best mortgage in the country through its 45 offices nationwide.
NACA will provide three major services at the Economic Justice Expo.
- NACA Purchase Program helps primarily low- to-moderate income and minority buyers obtain an affordable loan with no down payment, no closing costs, no fees, and credit scores are not used, plus a below market fixed rate. (3.75% 30-year/3.125% 15-year for low- to-moderate income people and communities as of 4/5/22).
- Home Save Program assists homeowners modify their unaffordable mortgage. NACA has helped a quarter-million homeowners during the mortgage crisis save their homes with affordable mortgage modifications, with rates as low as 2%, many with principal reduction.
- NACA’s Rental Assistance Program has NACA Advocates working with struggling renters to access $47 Billion in federal rental assistance funds.