Summary of Presentation: "Supporting Families, Preserving Homes, and Breaking the Cycle of Generational Poverty"
Saving Homes is a registered 501(c) affordable housing non-profit based in North Carolina with a mission to support families facing foreclosure and ensure the preservation of their homes, a crucial financial and emotional asset. The organization aims to disrupt the cycle of poverty by addressing the affordable housing crisis.
- Affordable Housing Crisis: The presentation emphasizes the impact of the affordable housing crisis on families, with a focus on the rising rates of foreclosures, particularly in North Carolina.
- Financial and Emotional Impact: Losing a home can have profound effects on families, leading to mental health issues, poor physical well-being, and increased chances of juvenile delinquency.
- Economic Cost of Child Poverty: The presentation highlights the economic cost of childhood poverty, estimating it to be over $1 trillion per year, affecting areas such as reduced earnings, increased victimization costs, health costs, corrections and crime deterrence costs, child homelessness costs, social costs of incarceration, and child maltreatment costs.
- Saving Homes' Approach: Saving Homes works directly with a recipient's bank to bring mortgage payments current, recording the funds as a 0%, no-payment second mortgage. The organization provides counseling, guidance, and resources to help families overcome housing challenges and preserve their equity.
- Long-Term Vision: The organization's long-term vision involves creating stability by stopping foreclosures and saving homes. The goal is to save a significant number of homes and create a lasting impact on families and future generations.
- Fundraising and Goals: The presentation outlines the current fundraising progress, goals for 2024, and the long-term vision for the organization. It also highlights the types of donors, including investors, banks, and realtors, and their potential impact.
- Leadership and Team: The founder, Ross Hamilton, brings over 21 years of experience in real estate to the organization. The team includes diverse professionals with expertise in real estate, philanthropy, finance, and technology.
- References and Research: The presentation references studies on homelessness, the economic cost of childhood poverty, housing and child well-being, and the U.S. foreclosure market report.
In conclusion, Saving Homes aims to make a tangible difference in the lives of families facing foreclosure, addressing the root causes of the affordable housing crisis and advocating for change. The organization seeks support to achieve its goals and create a multi-generational impact on families in need.