The Home Preservation Grant will provide relief for recipients who are suffering from the coronavirus pandemic and are in danger of losing their homes due to late or unpaid payments on their mortgages. The pilot program is part of Experian’s United for Financial Health initiative, which aims to help vulnerable consumers improve their finances through education and action.
The application process for the program is now open and will run through Dec. 8. The program will provide up to $10,000 in financial support for each recipient. Dawn Chase, NAACP director of equity and inclusion, said in a statement that building opportunities and financial security is critical for African Americans.
“Now more than ever, it’s critical that African Americans have access to wealth-building opportunities and financial security,” Chase said in a statement. “Since the beginning of this pandemic, the NAACP has launched multiple programs to ease the financial burdens families have experienced. We are pleased to be working with Experian on this pilot program to alleviate the hardships experienced by homeowners.”
The pilot program will first target homeowners in Atlanta and the recipients will be announced Dec. 14.
Experian North America Chief Diversity, Inclusion and Belonging Officer Wil Lewis said in a statement he hopes the program can counteract what has been a devastating year for homeowners.
“We know homeownership is a way not only to build generational wealth, but also build the generational vibrancy of communities. Black Americans have historically faced barriers to achieving this American dream, and COVID-19 has brought on additional challenges. Especially during the holiday season, we hope the Home Preservation Grant helps communities not only survive, but thrive.”
2020 has been a busy year for the NAACP. In January, Google provided a three-year, $3 million grant and volunteering support to help assist with the NAACP’s Afro-Academic, Cultural, Technological and Scientific Olympic program. In July, the civil rights organization launched an online campaign called #WeAreDoneDying to expose racial inequities in the U.S. healthcare system. The organization also teamed up with CBS on a multi-year content partnership.