Officials say more people are eligible for an affordable housing program offered by HUD and other collaborating entities. They say it’s being under-utilized. We have more with why they say few people know about it, and how it can help others.
Locals and Officials say a housing and urban development initiative is becoming more available, but say many people still don’t know about it. They say roughly tens of thousands in Pennsylvania alone, and 2 million nationwide are missing out. It’s called the Family Self Sufficiency program. Compass Working Capital CEO, Markita Morris-Louis says people who are looking to purchase a home for the first time may run into financial problems that they need guidance with. She says it’s been around for over thirty years, with experts working with members through things they need help with, including helping clients plan their financial future.
Morris-Louis adding: “It allows families in public housing, who have section 8 vouchers, or live in privately owned housing to build assets towards economic stability.”
Some State Residents say they couldn’t have gotten out of their situations without this project. One says the process went faster than she expected. Akirah Pressley, a F.S.S. Program Graduate saying: “I think more people should utilize the program. A lot of people think that it’s not real and there is a catch to it, and there’s really not. This is more like an additional stepping stone.”
Morris-Louis says one of the reasons this program exists is because of how some housing projects charge tenants. She says this involves them paying landlords a percentage of the income rather than a fixed sum of money. This means that if there is an increase in income, the rent will also go up.
Morris-Louis compares this to regular homeowners who have control of what percentage of their income they use for house payments, adding: “It sounds like a great idea with this affordability mechanism, but it has the unintended consequence of making it really difficult for families to get ahead, because they’re earning more, but they’re not able to save.”
Officials say both Republicans and Democrats have come together in support of this program. Morris-Louis says she hopes this program will help Landlords see the quote: “Necessity of their role in creating savings and asset building opportunities.”
