Since its inception, the Center has operated with special emphasis on serving low- and moderate-income and diverse households.
This month we’re exploring the work and history of the Minnesota Homeownership Center. Today’s installment – Who We Are & What We Do.
The Minnesota Homeownership Center was founded in 1993 to Promote and Advance Successful Homeownership in Minnesota. Born out of a common civic desire to address the homeownership gap between white households and households of color, the Center partners with ground-level nonprofits and government agencies to offer homebuyer counseling and education classes and promote the wealth-building value of sustainable homeownership. These efforts address the myths that lead many to self-select out of owning their own home, and include pre-purchase counseling, referrals to financing assistance programs, post-purchase counseling and foreclosure prevention resources. Since its inception, the Center has operated with special emphasis on serving low- and moderate-income and diverse households. We believe that smart, sustainable homeownership empowers people and families to build assets and helps to create vibrant and thriving communities.
In 2017, working with more than 40 individual community-based service organizations, the Center facilitated more than 6,100 in-person advisory and group education sessions. Participants of color made up 58 percent of individuals served, and 22 percent of participants were potential first-generation home buyers. We also facilitated foreclosure counseling for more than 1,300 households, and helped nearly 1,000 of these households to avoid foreclosure. We are proud of the collective positive impact we continue to have on our neighbors and on communities at large. For more information on the Minnesota Homeownership Center and our work, check out our website and our most recent annual report.