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The 2011 African American Homebuying Fair
Fair Showcases Help with Buying Homes
By Helen Silvis
of The Skanner News
Seize a chunk of the
American Dream by
homeownership, because
otherwise you are at the
mercy of market forces all
President Obama recently announced new rules that
allow more homeowners even those who are seriously
underwater, to refinance. And the State of Oregon has
tightened up foreclosure rules in favor of homeowners.
For help, contact Hacienda CDC, Clearpoint Financial
or the African American Alliance for Homeownership,
which all have programs to help prevent foreclosure. In
addition, Portland Community Reinvestment Initiatives
is piloting a new city-sponsored program to connect
people to resources that will help homeowners at risk of
foreclosure.
“We will work with everyone with less than 80 percent
of the median family income,” says Shalonda Menefee,
Home retention specialist with PCRI. “This is a resource
that a lot of people need to know about.”
In a strange twist, the same trends that are hurting
existing homeowners have lowered home costs for first-
time buyers.
George Artero of the National Association of Real
Estate Brokers, said home costs and interest rates are at
their lowest point in years making this a good time for
anyone with a regular income and good credit to buy.
“The bottom line is we all want to be homeowners and
right now this is a buyers market,” he said. “I hope peo-
ple take advantage of this because they might miss an
important opportunity.”
Daniel DelArroyo, a single father with two sons, said
with help from the African American Alliance for
Homeownership, he has been able to buy his own home.
“I am a single dad, that’s true, but I have a job with
the American Red Cross that has helped me have some
resources to pay a mortgage. But I didn’t have enough to
do it by myself. So after some research I found the
African American Alliance for Homeownership had a
program to help me. Through this program I had coun-
seling and assistance with a down-payment and a loan,
and through the loan I got my dream to be a homeown-
er now. So my sons are doing very well in school and
I’m working, and I am very, very grateful for all of your
help.”
Oregon Sen. Jeff Merkeley came along to meet with
housing professionals and citizens, and to encourage
Hundreds gathered at the Annual African American Alliance for Homeownership Fair.
PHoToS By Jerry foSTer
Adjoa Assuman is just 20 years old. But she has a job
and she’s putting money aside ever month, so that she
can be a homeowner by the time she turns 24.
At the annual African American Homebuyers Fair,
held in the atrium of Legacy Emanuel Hospital in North
Portland Saturday Oct. 28, the radiology student said her
mother had inspired her. “My mom wants me to invest
at a young age in a house,” she said. “The fair is helping
me to explore the opportunities.”
Organized by the African American Alliance for
Homeownership, the fair was created to make housing
help available to more people. Whether you are a first-
time homebuyer, a homeowner struggling to avoid fore-
closure, a senior facing home repair bills, or simply a
renter who wants someday to buy: there’s a program for
that.
Homeowners who took out mortgages during the
boom housing years have seen their homes lose value
and may be locked into unaffordable mortgages. If that’s
your problem, or if you are facing foreclosure some
help may be available to refinance at better rates.
Local homeowners were able to get help with
foreclsosures.
Others found out how they can plan ahead to
purchase a home of their own.
Pictured from left are: Daniel DelArroyo; Sen. Jeff Merkeley; Cheryl Roberts, executive director of
AAAH, Bernie Foster; Publisher of The Skanner News; Stephen Reichard, chief operating officer of
Planned Parenthood; and Jon gail AAAH member.
The Homebuying Fair was brought to
you by the following sponsors: Chase,
Legacy Emanuel Hospital, NW Natural,
Portland Housing Bureau,
Safeway Food & Drug, The Skanner
News Group, TriMet.
The Portland Skanner Page 5