The city of Greensboro has helped more than 200 renters become homeowners this year.
The idea was born after an April 2018 tornado tore through eastern Greensboro, damaging an area in which many were paying rent on substandard housing. The city partnered with the non-profit Housing Consultants Group with the initial aim to convert 100 renters in the area to homeowners. They have now exceeded their goal twice, with 212 homes purchased as of early August 2019. The program helps renters transition into homeownership through financial literacy courses that serve as a prerequisite for a down payment assistance loan from the city. Many of the new homeowners accessed mortgages at rates more affordable than rent while improving their housing situation and securing long-term stability.
Host Frank Stasio talks with Robin Morgan, director of operations at Housing Consultants Group, about the potential for expanding the program in Greensboro.