2023 Homeownership Supplement

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Homeownership is a key pillar of the American Dream, offering financial opportunity for consumers and enhancing economic security and stability for communities nationwide. Owning a home is also one of the most important pathways to wealth creation, providing families with a foundation for improving their financial position across generations.

At Wells Fargo, we believe deeply in the benefits of homeownership, and we’re proud of the fact that we’ve served more minority customers over the last decade than any other bank lender. We’re deeply focused on building on the strong foundation we’ve put in place to ensure that we not only maintain but also deepen our support for minority homeownership.

In April of 2022, the Company announced an expansion of its efforts to advance racial equity in homeownership. The announcement included a $150 million investment in a new Special Purpose Credit Program for refinance customers, $60 million in Wealth Opportunities Restored Through Homeownership (WORTH) grants, and broadened partnerships with the National Urban League and UnidosUS.

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In January 2023, Wells Fargo took our efforts to the next level by announcing a renewed strategic focus centered on serving bank customers and minority communities. The strategy includes an additional $100 million investment to advance racial equity in homeownership. We are working to reach more customers in underserved communities by leveraging our strong partnerships with the National Urban League, UnidosUS and other non-profit organizations, hiring additional mortgage consultants in communities of color, and expanding our Special Purpose Credit Program to include purchase customers.

As Wells Fargo’s new head of Home Lending, I am humbled and honored to lead this team as we work to deliver for our customers and advance racial equity in homeownership. I’m proud to follow in the footsteps of our former head of Home Lending, Kristy Fercho, who was recently promoted to lead Diverse Segments, Representation & Inclusion across all of Wells Fargo. I’m also excited to work with the countless non-profits, advocates, policymakers, and other stakeholders across the industry who share Wells Fargo’s deep belief in the benefits of homeownership.

I believe that – together – we can bring the dream of homeownership closer to reality for all.

Kevin Reen Head of Wells Fargo Home Lending

In Memoriam Dr. Calvin W. Rolark, Sr. Wilhelmina J. Rolark

5 Kevin Reen, Head of Wells Fargo Home Lending

As Wells Fargo’s new head of Home Lending, I am humbled and honored to lead this team as we work to deliver for our customers and advance racial equity in homeownership.

Our House D.C. Offers ‘How To’s’ in Home Owning

Dear Readers,

In August 2021, The Washington Informer launched the Our House D.C. Newsletter, a monthly platform designed to document and examine factors contributed to the loss of housing among Blacks and marginalized residents in Wards 7 and 8.

Our House opened dialogue and provided critical resources to readers that assisted homeowners, their communities and local government agencies in practical solutions to a myriad of housing concerns. We served not only as ambassadors, of sort, to homeowners, but also found ourselves learning a lot about great programs and networks that aid homeowners.

Our House D.C. has made a difference in the way conversations are conducted about homeownership in Wards 7 and 8. Indeed, the newsletters are helping place these considerations into spaces where improvements and policy changes occur.

Last year while visiting my mother, I asked her to define “generational wealth.” She immediately spoke of the importance of living within your means, paying a mortgage, not rent, and “saving, saving, saving.” Mom’s perspective, I found, was similar to the sentiments of U.S. Secretary of Housing and Urban Development

(HUD) Marcia Fudge and former United Nations Ambassador Andrew Young.

“The biggest thing we do in our society to build wealth is ownership,” Fudge told Yahoo Finance Live. “If we start to devalue the homes of people of color, then we have taken away the opportunity to build wealth.”

Reflecting on generational wealth, Young considered 1966 in Chicago during protests regarding inequities in poverty and slum conditions.

Young said housing owned by White slumlords was their form of generational wealth: “But it was usually a form of generational wealth for them that they really didn’t need.”

“Generational wealth is absolutely necessary and essential if possible,” Young continued. “The first possibility of generational wealth is probably to own a home. If you can own a home and pass it on to your children, you’ve really done something.”

Consistent with my mother, at the core of generational wealth for Ambassador Young and Secretary Fudge is leaving a home for your children. It is also a definition passed on from their parents. Getting into and maintaining a home is not an easy process. It can be, at times, for first-time buyers and current homeowners

June is National Homeowner’s Month

alike, quite challenging. Chief among those concerns is the costs of homes. The average home in the District is $600,000.

What’s affordable about $600,000 for the average Washington resident?

In this week’s edition and in the Our House newsletters you’ll find a lot of “How To’s” in home buying and maintaining ownership as the push for Black homeownership continues.

We discuss how the housing crisis challenges renters and buyers, explain the importance of making and implementing sound financial decisions in building and achieving generational wealth, outline steps to keep homes safe for elderly loved ones, and offer seven ways to protect your family from exposure to lead in water.

In other words, the Washington Informer is dedicated to being your reliable resource guide on keeping abreast of the issues confronting Black homeownership and educating readers about opportunities and programming promoting continued local Black homeowners and generational wealth.

Pleasant reading!

Sincerely,

Austin R. Cooper, Jr

Working Together for Black Homeownership

By Kristy Fercho, Head of Diverse Segments, Representation & Inclusion, Wells Fargo

Owning a home is also one of the most important pathways to wealth

creation, providing families with a foundation for improving their financial position across generations and building stronger communities in the process. Unfortunately, a significant gap between White, non-Hispanic,

and minority homeownership rates has existed for decades and persists today. Closing this gap is my personal passion and a core pillar of the work we’re doing at Wells Fargo. We’re

Strength in Working Together

As the leading large bank lender to African Americans Wells Fargo understands that our strength comes from working together across the country to achieve racial equity in homeownership.

Our close collaboration with prominent African American civil rights organizations, real estate trade groups, and housing counseling agencies helps bring home buying information and resources to more communities.

proud of the actions we’ve taken to advance racial equity in homeownership, including a new Special Purpose Credit Program that has helped more than 2,000 families reduce their interest rate to 3.75% without extending their loan term. Wells Fargo remained the nation’s leading bank lender to Black and Hispanic families in 2022, and we’re eager to build on this strong foundation.

We also know that more work remains, and that no single entity – no matter how large – can address systemic barriers to minority homeownership alone. Common pursuit of shared goals and meaningful collaboration across the housing ecosystem are essential to driving lasting impact. We are committed to continuing to play a leading role in the effort to advance racial equity in homeownership and are excited about the work that’s underway.

In the last year alone, we’ve launched substantial initiatives that we believe can help drive real progress in closing the racial wealth gap. For example, Wells Fargo and the T.D. Jakes Group just announced a strategic partnership to drive economic vitality and inclusivity in communities across America. Over the next 10 years, the partnership between our organizations could result in up to $1 billion in capital and financing from Wells Fargo, as well as grants from the Wells Fargo Foundation, with the goal of revitalizing neighborhoods, fostering economic opportunity, and creating long-term change in communities most in need.

In February, Wells Fargo announced a $50 million grant to the largest civil rights and social justice organization in the United States, the NAACP, to support its continued efforts to advance racial equity in America. I’m proud to say that the grant is the single largest donation the civil rights organization has ever received.

In the last year alone, we’ve launched substantial initiatives that we believe can help drive real progress in closing the racial wealth gap. For example, Wells Fargo and the T.D. Jakes Group just announced a strategic partnership to drive economic vitality and inclusivity in communities across America.

Scan to learn more about our Home Lending Priorities

Wells Fargo also announced a refined strategy for its Home Lending business – including a deeper focus on serving minority customers. In addition to expanding our Special Purpose Credit Program to purchase customers and hiring more Home Mortgage Consultants in minority communities, the strategy also deepened our partnerships with groups like the National Urban League and UnidosUS.

These announcements build on ex-

tensive work that’s already underway across Wells Fargo to advance racial equity in homeownership – including the $60 million “Wealth Opportunities Restored Through Homeownership” (WORTH) program, a diverse appraiser apprenticeship program launched in partnership with the National Urban League, and the $40 million Growing Diverse Housing Developers grant initiative focused on expanding the growth and success of real estate developers of color. Individual actions to build a more equitable housing system play a crucial role in driving progress. The most powerful path to progress, though, lies in the actions we take together to make the dream of homeownership more accessible and sustainable for all. n

At Wells Fargo we also continue to optimize our teams to better serve you and help you create a home buying journey that is right for you and your family.

5 Kristy Fercho, Head of Diverse Segments, Representation & Inclusion, Wells Fargo

Strength in Working Together

The Black homeownership rate has seen the largest percentage point increase of any racial or ethnic group since the end of 2019, moving from 42.7% to 45.2% in the third quarter of 20221

As the leading large bank lender to African Americans Wells Fargo understands that our strength comes from working together across the country to achieve racial equity in homeownership.

Our close collaboration with prominent African American civil rights organizations, real estate trade groups, and housing counseling agencies helps bring home buying information and resources to more communities.

At Wells Fargo we also continue to optimize our teams to better serve you and help you create a home buying journey that is right for you and your family.

Four Options For Homebuyers and Owners That Could Save You Thousands Of Dollars

By Jennifer Block Martin

Wherever you are on your homeowning journey, these programs provide assistance with buying a home or paying your mortgage and other housing costs. And you may be eligible for more than one program.

Wells Fargo offers and administers programs to help owners like you buy and stay in their homes, accumulate savings, and pass down wealth to future generations.

1. Dream. Plan. Home. SM closing cost credit

Closing costs, such as appraisal fees, processing fees, title-related fees, recording fees, and city, county, or state tax stamps, are a significant amount of cash often overlooked by buyers. The Wells Fargo Dream. Plan. Home. closing cost credit provides up to $5,000 toward nonrecurring closing costs for borrowers with a combined income of up to 80% of the area median income in select areas across the U.S. This credit may be combined with other Wells Far-

go down payment assistance programs and gift funds.

Wells Fargo Home Mortgage consultants are available to discuss your options with you. Call 1-877937-9357 for more information.

2. Homeowner Assistance Fund

If you’re facing challenges from the COVID-19 pandemic, you may want to look into the Homeowner Assistance Fund, or HAF, a federal program to help people catch up on past-due mortgage payments and utility bills, and pay other housing

costs, such as homeowners association fees or insurance. The benefits are offered by most states and vary by state, and in most states, the money from HAF is available as a grant, so you don’t have to pay it back. For example, the lifetime cap for HAF assistance in Washington, D.C., is a $120,000 grant per household, while the state of Georgia offers a grant up to $50,000. However, some states may require the money to be repaid under some circumstances, such as if you sell your home before a specified date.

American Indian, Alaska Native, and Native Hawaiian homeowners can receive funds in addition to their state’s program. This fund is not just for members who live on tribal land; some services are available for members of a tribe living outside a reservation.

Visit wellsfargo.com/homeownerassistancefund for more details.

3. Union Plus Mortgage Program

If you’re an active or retired union member or an eligible family member, you may be able to take advantage of the Union Plus mortgage

Home financing options for union families

program, which provides special home financing options, benefits, and interest-free mortgage assistance loans or grants in the event you experience an unexpected loss of income. Call 1-866-807-4154 or visit mortgage.wf.com/unionplus for more information.

4. Housing counseling agencies

Do you feel intimidated by the homebuying process and don’t know where to start? Or do you already own a home and are experiencing financial distress? You don’t have to go it alone. You can talk with a U.S. Department of Housing and Urban Development housing counselor in your area to get free counseling assistance related to buying or keeping your home. Visit hud.gov/housingcounseling or call 1-800-569-4287. Not sure how much house you can afford? An online mortgage affordability calculator can give you an estimated home price and monthly mortgage payment based on your income, monthly debt, down payment, and location. Go to wellsfargo.com/mortgage/home-affordability-calculator. n

Wells Fargo Executive on a Mission to Close Gap in Homeownership

By Angela Swinson Lee Special to The Informer

For Chuck Bishop the path to homeownership is personal. He didn’t live in a house until he became an adult and bought his own.

As a native of the District of Columbia, he is extremely passionate about helping people get on the path to homeownership.

Bishop, head of Wells Fargo Home Lending Diverse Segments, watched his own mother live in the same apartment for the last 42 years and pay a total of $907,000 in rent. “She paid someone else’s mortgage when she could have been growing her own personal assets if she’d fully understood the benefits of homeownership,” Bishop said. “I see firsthand the wealth that's being taken out of our community. My goal is to help more people not have that experience.”

In his role, it is Bishop’s job to expand homeownership opportunities for the underserved communities, which includes people of color and individuals with low to moderate incomes.

“While it sounds really simplistic, it really isn't just that. We have to do the work. I say that because I have the luxury of working for a company that is really committed to this work,” Bishop said.

As Bishop sees it, homeownership is critical for a lot of reasons. “For one, we know that homeownership is the beginning of the creation of wealth. Most people use their homeownership journey as a passageway to legacy opportunities,” Bishop said adding, that some families aim to pass their property to their heirs. “It is often the biggest purchase that many people make, so it also requires some financial discipline.”

Bishop added that social impacts of homeownership exist, and studies – including recent analysis by the Minnesota Housing Center – have shown that children who grow up in a home where their parents are homeowners often do better in school, have a higher graduation rate and a lower truancy rate than children of parents who rent. Those children are also

less likely to suffer from severe childhood disease and sickness.

Even the small things can make a difference, such as being able to paint walls as you like them and hanging items where you would like them in your home. “I didn’t have such luxuries growing up,” Bishop said.

In his day-to-day work, Bishop can be creative in his how he reaches potential customers. He works to bring an informed approach to the marketplace, such as tailored marketing campaigns and educational outreach. He also works with external stakeholders, such as government entities, ethnic real estate organizations and other industry trades.

Internally, his team engages with sales partners and other departments to do what is necessary to have success in the space that he is in.

Bishop says there is lots of work that needs to be done to close the significant gap between white, non-Hispanic and minority homeownership rates that have already existed for decades. In the black community, the homeownership rate lags that of white, non-Hispanic households by 30 percentage points. “It is as wide as it was when discrimination was legal,” Bishop said of the homeownership gap. “It speaks for the need to do continued work in this space.”

Bishop spoke of the policies that existed in years past that did not allow for equity in homeownership. Some deeds couldn’t be transferred to persons of color and the government would not insure loans in communities that housed black people. “There was purposeful redlining done. When you think about it, the homeownership race was started with unequal opportunities, and they lasted for decades, it’s really hard to catch up today,” Bishop said.

In an effort to overcome that gap, Wells Fargo announced a new initiative in April 2022 that included the development of a Special Purpose Credit Program in which the bank committed a $150 million investment initially aimed at helping eligible Black homeowners with mortgages serviced

by the institution to lower their interest rates and reduce monthly mortgage payments without extending their loan term. “We also recognize sustainability. It’s not just about putting people in homes, it’s keeping people in homes who already have them,” Bishop said.

The rate and one-time expenses, such as non-recurring closing costs and the VA funding fee (if applicable), were subsidized by Wells Fargo. More than 2,000 customers have been helped by the program as of May 2023.

Earlier this year, Wells Fargo announced it would launch a Special Purpose Credit Program aimed at helping purchase customers. Other Wells Fargo initiatives include, investing an additional $100 million to advance racial equity in home-

ownership, including partnering with non-profit organizations and community-focused engagements, deploying additional Home Mortgage Consultants in local minority communities and donating more than $390 million to help address housing affordability in the country since 2019.

The bank, through its foundation, also established the Wealth Opportunities Restored through Homeownership, or WORTH, grant program, a $60 million national effort to address systematic barriers to homeownership for people of color. Wells Fargo also recently announced the expansion of the Dream. Plan. Home.SM closing cost credit program, which provides eligible borrowers with an income at or below 80 percent of the area median income where the

property is located up to $5,000 to use toward closing costs in certain markets.

The company also announced Growing Diverse Housing Developers, a $40 million grant initiative focused on expanding the growth and success of real estate developers of color, including Black and Latino-owned firms.

“We are using our resources to empower those who are in the community doing that work,” Bishop said. “I can’t tell you the joy I get out of making a difference in someone’s life when we can create programs and see the tangible effects it has, whether it’s moving the needle in a certain geography for homeownership or from a single family saying, ‘Thank you. We didn’t know we had an opportunity to become homeowners.’” n

“We also recognize sustainability. It’s not just about putting people in homes, it’s keeping people in homes who already have them,” Bishop said.

5 Chuck Bishop, Wells Fargo Home Lending Diverse Segments

A Continuum of Solutions

Momentus Capital is a first-of-itskind financial organization that brings together leading organizations rooted in social mission to provide a continuum of financial, social, and knowledge capital at every growth stage to support economic mobility and wealth creation.

● Supporting real estate developers of color with training, mentorship, and financing through our Equitable Development Initiative and Diversity in Development Loan Product

● Providing flexible lending to purchase commercial real estate and build long-term equity through our Impower loan product

● Deploying low-cost and flexible financing to preserve affordable housing through the DHCD Preservation Fund

● Expanding opportunity for local, POC-ownead food businesses to engage in the robust food ecosystem and increase health equity through the Nourish D.C. Fund

How to Keep Seniors Safe at Home

By Rosalind Strickland WI Contributing Writer

“Home is Where the Heart is,” so sang Elvis Presley without even realizing that as people age, many want to remain living in their own homes as long as possible.

Not only is this often more affordable than moving to a nursing home or assisted living facility, but it also provides seniors with a sense of independence and comfort, familiar surroundings, and access to the services they need.

However, living at home as an older adult can present unique challenges, such as mobility limitations, vision or hearing impairment, and increased risk of falls.

But with a few modifications, seniors can continue to live safely at home and enjoy their golden years.

AVOIDING THE TRAUMA OF MOVING TO A NURSING HOME

Seniors who stay at home have more control over their lives and schedules than those who move into nursing homes or other facilities. ‘

Moving to a nursing home can be traumatic, involving leaving cherished memories and downsizing.

Additionally, nursing homes can be costly, with expenses increasing for round-the-clock care.

Many seniors prefer to retain assets and stay in their own homes, but this may pose risks for those living alone or with limited mobility.

Thankfully, home modifications can enhance safety and accessibility.

Here are some modifications that can be made to a home to make it safer and more accessible:

BUILDING SELFCONFIDENCE BY MAINTAINING INDEPENDENCE

One of the biggest challenges for seniors is maintaining their independence while also staying safe. Many older adults fear losing their independence and relying on others for help with daily activities. By making modifications to their homes, seniors can maintain their independence and continue to perform daily tasks without assistance. This can help build self-confidence and improve overall quality of life.

MOVING THE BEDROOM TO THE FIRST FLOOR

The bedroom is where seniors spend most of their time, so it is essential to make it safe and com-

fortable. For seniors with limited mobility, climbing stairs can be a major challenge. Therefore, moving the bedroom to the first floor is essential.This eliminates the need to climb stairs to access the bedroom, reducing the risk of falls and making it easier for seniors to navigate their homes. Also, install safe seating in the bedroom. Seniors should have a comfortable chair in their bedroom where they can sit and relax. The chair should have a firm seat and backrest to provide support when getting up or sitting down.

MODIFYING A BATHROOM

The bathroom is one of the most dangerous rooms in the house, especially for seniors. Here is a tip for modifying a bathroom. Install a roll-in shower that has no threshold, making it easier for seniors

to enter and exit and a safe and comfortable space for seniors to bathe. This modification can also make it easier for caregivers to assist seniors with bathing. Also, install grab bars on both sides of the shower to prevent accidents from happening.

INSTALLING SAFE SEATING IN THE SHOWER

Installing safe seating in the shower can provide additional support and stability for seniors while bathing. A sturdy, non-slip shower chair or bench can be a simple yet effective modification that can greatly improve safety in the bathroom. It can also make it easier for seniors to bathe independently.

SENIORS ON PAGE HS 22

creating stability and prosperity for families throughout

we have supported over 6,000 families in becoming

through your homeownership journey:

DCHFA Celebrates 10 years of DC Open Doors

This month, the District of Columbia Housing Finance Agency (DCHFA) is celebrating the 10th anniversary of its flagship homeownership program DC Open Doors. DC Open Doors makes homeownership in Washington, D.C. affordable by offering qualified buyers home purchase loans, down payment and closing cost assistance.

DCHFA’s Single Family Programs division has a commitment to developing and administering innovative programs that grant all District residents the opportunity to become homeowners. Launched in 2013, DC Open Doors offers deferred repayable loans for a homebuyer’s minimum down payment requirement in addition to below-market interest rates for first trust mortgages for the purchase of a home in the District of Columbia. Qualified firsttime and repeat homebuyers are eligible for the program.

PROGRAM ELIGIBILITY & REQUIREMENTS:

• Open to both first-time and repeat homebuyers

• Open to all neighborhoods and wards

• Open to both residents and non-residents of DC

• Minimum credit score of 640

• Maximum income of $199,200 (borrower NOT household)

• Maximum debt-to-income

(DTI) ratio of 50%

• Maximum First Trust Loan: $726,200

Borrowers do not have to be first-time homebuyers to use the program; but cannot own another home at the time of closing on their DC Open Doors purchased home. D.C. residency is not a requirement, so long as the home you’re

purchasing is in the District of Columbia. Borrowers can also combine DC Open Doors with other programs, like the Home Purchase Assistance Program (HPAP), which DCHFA is a co-administrator of for the DC Department of Housing and Community Development. Throughout Fiscal Year 2022-2023, DCHFA was able to help more than 500 residents become homebuyers with the help of its homeownership programs. The Agency remains committed to launching new programs that increase access to homeownership. DC4ME is another resource aspiring homebuyers can use if they work for the D.C. government. Applicants must be a current fulltime District government employee, including employees of District government-based Instrumentalities, independent agencies, D.C. Public Charter Schools, and organizations, provided the applicant/ borrower’s employer falls under

the oversight of the Council of the District of Columbia.

DCHFA hosts monthly homebuying seminars where people beginning their homeownership journey can come learn about all of these programs that are available to provide financial assistance. At these monthly seminars hosted on the first Wednesday of each

month, attendees also get to hear from a local lender and real estate agent who can walk them through the process, cover topics like credit repair, and let them know why it is never too early to start preparing for a home purchase. Learn more at www.dchfa.org/homeownership. n

America’s Housing Crisis Hammers Those Trying to Buy or Rent

By Barrington M. Salmon Special to The Informer

Anyone trying to buy a house that doesn’t cost an arm and a leg, or hoping to land an affordable rental unit knows how difficult and frustrating that goal can be to achieve.

America has been plagued by a severe housing shortage for at least a decade with the COVID-19 global pandemic laying bare the deficiencies in the housing and rental ecosystems. A housing analysis report released by Realtor.com in March laid out the scope of the problem.

According to Realtor.com’s Hannah Jones, housing markets in the U.S. continue to struggle because of a significant shortage of new homes, as a consequence of more than 10 years of under-building relative to population growth.

Jeffrey Hayward, executive vice president and chief administrative officer with FannieMae said in a 2022 article that the causes of the housing supply crisis are widely understood.

“After the Great Recession, new home construction dropped like a stone. Fewer new homes were built in the 10 years [that] ended 2018, than in any decade since the 1960s,” he said. “By 2019, a good estimate of the shortage of housing units for sale or rent was 3.8 million. The pandemic-induced materials and labor shortage exacerbated the trend, however, as evidenced by the surge in rents and home prices in 2021.”

Hayward said increased mortgage interest rates – which The Federal Reserve has used to try to cool inflation – “have already reduced housing demand, particularly for new homes, and a possible economic slowdown could reduce demand further.”

Americans have been dealing with record high inflation and mortgage rates, amid a housing affordability crisis driven by low inventory, alarmingly high rents, and a drop in real wages.

As real estate analysts predicted, the multiple pressure points affect-

ing housing eased this year. According to the National Association of REALTORS, housing affordability had double-digit declines from a year ago in all four regions of the country.

“The South had the biggest decline of 25.3%, followed by the Midwest with a dip of 25.1%. The Northeast experienced a drop in affordability of 22.2%, followed by the West, which fell by 19.2%, the NAR said. “Affordability was up in all regions from last month.”

But even as housing market prices and rents have begun to stabilize and fall in some markets, the supply issue remains acute particularly for low- and moderate-income families.

A U.S. House panel report released in July 2022 said “corporate landlords” evicted tens of thousands of residents last year despite the evictions moratorium implemented during the COVID-19 global pandemic, just as private equity firms and businesses are gobbling up real estate at a record pace.

CHALLENGES FOR RENTERS

Juan Pablo Garnham, Audience and Community Engagement Manager at Princeton University’s Eviction Lab, said those forced to rent now face obstacles because of government policies and business acquisition of property.

"In many parts of the country, there’s … been regulations that limit access to renters and low-income people, which add pressure to the market, including zoning restrictions and limitations for building more units,” Garnham said in a 2022 interview.

He said the rent squeeze is also exacerbated by “more corporate groups and LLCs buying housing in larger numbers, increasing rent prices, making it more difficult for individual buyers to compete, and potentially provoking evictions and displacement."

In a report last year, the National League of Cities (NLC) said the U.S. suffered from a short-

5 Tammie Barrett

Potomac Electric Power Company, 2023

CONTINUED FROM PAGE HS12

age of seven million affordable rental homes. In addition, renters racked up billions of dollars’ worth of debt after falling behind during the pandemic. As a consequence, the NLC said, many cost-burdened households are now spending more than half of their paychecks on rent and utilities, as opposed to the 30% level often recommended by financial planners.

Eliana Roberts Golding, Senior Policy Analyst for Housing and Workforce Development at the DC Fiscal Policy Institute, said it’s a question of economic policy priorities in a society that sees housing as a commodity and not a basic human right. Too many elected officials and policymakers, Golding added, look at housing issues in starkly financial terms.

"For example, renters can’t take any deductions, but mortgage interest deductions are available to those holding wealth through the asset of housing. And there are policy choices on the federal and local levels that we can’t undo,” Golding said.

She described the District of Columbia’s rent control policy as "very outdated," and in need of an overhaul.

"Rent control is a way to temper markets and keep units, but it has remained stagnant and every year, we lose units,” Golding said.

HOUSING CRISIS AND RACE

Golding emphasized it is impossible to discuss the housing crisis

without talking about race. She said the United States has to reckon with the consequences of generations of racially discriminatory policies and programs devised by federal, state and local elected officials, corporations, stakeholders and others that has locked African Americans out of communities using redlining, restrictive covenants and barriers as well as blocking Black people from buying homes, securing loans and mortgages, and limiting the areas of cities and towns where they might live.

“The present system is built on de jure racism, discrimination, segregation and inequity. Certain places received investments and others [Blacks] didn’t," Golding said. "As you’re investing in one place, that increases in value while causing displacement of people unable to afford homes and apartments spurring gentrification.”

Some solutions experts, analysts and advocates offer as ways to address both the housing and affordability crises is for Congress and state lawmakers to move expeditiously to expand America’s housing stock; revamp evictions laws; boost funding for rental assistance to low-income people; and remove exclusionary zoning and other laws which have historically been used to bar primarily Black and brown lower-income residents from living in more well off suburban enclaves and boost their access to jobs, quality, high-performing schools and other features. n

5 With America’s housing shortage affecting affordability both renters and buyers face challenges. (Courtesy Photo)

Navigating the Current Housing Market: The Secret to Purchasing a Home

Submitted by George Mason Mortgage

The current housing market has been plagued by a multitude of challenges that have made it difficult for homebuyers to achieve their dream of owning a home. The pandemic, high interest rates, inflation, and a lack of inventory have all contributed to this challenging situation. However, there is a way to overcome these obstacles and achieve homeownership. The secret to purchasing a home lies in education, affordability, teamwork, and being open to change.

EDUCATION: THE KEY TO SUCCESS

One of the most important factors in successfully purchasing a home is education. Many resources are available to assist borrowers with home buying, and they are

to educate homebuyers on the ins and outs of the process. These classes answer many questions and concerns that homebuyers may have and are a great way to start the homebuying journey. After completing a homebuying class, it is recommended that you contact a lender and a realtor to begin your search for the perfect home.

AFFORDABILITY AND BUDGET: THE FOUNDATION OF SUCCESS

Affordability and budget are the foundation of successful homeownership, especially in the current economy. Having a financial plan is crucial, and having a great mortgage lender can assist you in finding the sweet spot of affordability. This will help you to make a well-informed decision and avoid any financial difficulties down the road.

TEAMWORK IS DREAMWORK: THE IMPORTANCE OF EXPERIENCED PROFESSIONALS

Having the right experienced team in your realtor and mortgage lender is essential in making the homebuying process go smoothly. Your team should be there for you regarding your questions, suggestions, or concerns. They should guide you through the entire process and be available to help you make informed decisions.

CHANGE: EMBRACING NEW OPPORTUNITIES

Although the current economy has caused the housing market to decline, there are still many resources available for homebuyers. At George Mason Mortgage, we are dedicated to assisting you with

ABOUT GEORGE MASON MORTGAGE: YOUR PARTNER IN HOMEOWNERSHIP

While the current housing market presents a challenging environment for homebuyers, it is still possible to achieve your dream of homeownership. By focusing on education, affordability, teamwork, and embracing change, you can overcome these challenges and

find the home of your dreams. At George Mason Mortgage, we are here to help you every step of the way, and we are committed to working for you. As a digital mortgage lender, we have the technology and security resources to make your home buying experience as smooth and safe as possible. We are dedicated to being your go-to resource. Please feel free to contact us with any questions you may have or to get started on your journey home. n

Contact me with any questions you may have or to get started on your journey home:

Michelle Fields-Hall Senior Loan Officer

NMLS#: 270722

Phone: (443) 798-6112

Email: MFields-Hall@gmmllc.com

www.gmmllc.com/michellefields-hall

program eligibility requirements. HomeReady® is a registered trademark of Fannie Mae. Mortgage Insurance is required for properties with over 80% loan-to-value. Grant program may be considered taxable income. 1099-MISC may be issued. You should consult with your tax advisor. Program rates, terms, and conditions are subject to change without notice.

UP TO $10,000 FOR DOWN PAYMENT & CLOSING COSTS

Do you dream of owning a home, but have limited funds for a down payment and closing costs? Our Journey Home Grant1 and Welcome Home Grant2 may be the answer to your home buying dreams. Get

visit: www.gmmllc.com/grants

(www.nmlsconsumeraccess.org) | Advertising Notice - Not a Commitment to Lend - Subject to Program Availability. All loan applications subject to credit approval. Annual Percentage Rate (APR), programs, rates, fees, closing costs, terms and conditions are subject to change without any notice and may vary depending upon credit history and transactions specifics. Other closing costs may be necessary. Flood and/or property hazard insurance may be required. To be eligible, buyer must meet minimum down payments, underwriting and program guidelines. 1. Subject to Credit Approval. Journey Home Grant is a lender grant and is not available in all market areas. Grant is capped at $10,000, with up to 3% of sales price or appraised value (whichever is less) applied towards down payment first and then any remaining funds applied to closing costs. No cash back for the Grant funds allowed. Loan must be for purchase or refinance of primary residence. Property type and location limitations apply. Loan terms and conditions apply, including but not limited to, maximum loan-to-value of 97%, maximum loan amount, minimum credit score, and maximum income limits. Homebuyer education may be required. In addition to Journey Home grant requirements, borrowers must meet Fannie Mae HomeReady program eligibility requirements. HomeReady® is a registered trademark of Fannie Mae. Mortgage Insurance is required for properties with over 80% loan-to-value. Grant program may be considered taxable income. 1099-MISC may be issued. You should consult with your tax advisor. Program rates, terms, and conditions are subject to change without notice. 2. Subject to Credit Approval. Welcome Home Grant is a lender grant and is not available in all market areas. No cash back for the Grant funds allowed. Loan must be for purchase or refinance of primary residence. For Purchase transactions, grant is capped at $10,000, with up to 3% of sales price or appraised value (whichever is less) applied towards down payment first and then any remaining funds applied to closing costs. For Refinance transactions, up to 3% of appraised value, with a maximum of $10,000 will be applied towards closing costs. Property type and location limitations apply. Loan terms and conditions apply, including but not limited to, maximum loan-to-value of 97%, maximum loan amount, minimum credit score, and maximum income limits. Homebuyer education may be required. Grant program may be considered taxable income. 1099-MISC may be issued. You should consult with your tax advisor. Program rates, terms, and conditions are subject to change without notice.

George Mason Mortgage, LLC | NMLS ID #: 153400

Don't Forget About the Basics: The Importance of Income, Credit, and Assets in Mortgage

Submitted by George Mason Mortgage

In the world of mortgage lending, it's easy to get caught up in the complexities of interest rates, loan types, and down payments. However, it is crucial not to overlook the fundamentals that form the bedrock of any mortgage application. As a Loan Officer at George Mason Mortgage, I've encountered numerous cases where borrowers focus on the bells and whistles, only to neglect the essentials: income, credit, and assets. In this article, we will explore why these elements are paramount in the mortgage application process and the significance of keeping them in mind.

1. Income: When it comes to securing a mortgage, having a stable employment history and a reliable source of income are vital. Lenders need assurance that borrowers have the means to repay the loan. Employment stability demonstrates a borrower's ability to maintain a

consistent income stream, which is essential for long-term financial commitments such as a mortgage. Regular pay stubs and employment verification documents are often required to establish this stability.

2. Credit: Credit history is a crucial factor in determining mortgage eligibility. Lenders assess credit scores and reports to gauge a borrower's creditworthiness and ability to manage debt responsibly. A strong credit score shows a history of timely payments and responsible credit utilization, indicating a lower risk for the lender. To maintain a good credit standing, it's important to pay bills on time, avoid excessive debt, and monitor credit reports for errors or discrepancies.

3. Assets: Assets play a significant role in the mortgage application process, particularly when it comes to down payments and reserves. Lenders evaluate a borrower's assets to ensure they have the necessary funds to cover upfront costs and demonstrate financial stability. Ex-

amples of assets include savings accounts, investments, and real estate. By maintaining a healthy level of assets, borrowers can increase their chances of mortgage approval and secure better loan terms.

In recent years, the rise of digital payment apps has transformed the way people handle their finances. These apps provide convenient and instant peer-to-peer money transfers, simplifying transactions and making financial management more accessible. However, it's important to note that mortgage lenders typically view funds from these apps differently than traditional bank accounts.

While the apps offer convenience, they may lack the level of transparency and documentation required by lenders during the mortgage application process. Lenders prefer to see a clear and traceable paper trail for funds, ensuring they are obtained from legitimate sources. This can complicate the verification process, as they often display infor-

mal names or usernames instead of proper account information.

When considering using a digital payment app for financial transactions related to a mortgage, it is crucial to consult with your Loan Officer beforehand. They can guide you on the best practices for documenting these transactions and help you navigate any potential issues that may arise. It's advisable to maintain a separate bank account specifically for mortgage-related funds, making it easier for lenders to verify the transaction history.

In the pursuit of homeownership, it's essential not to lose sight of the fundamentals. Income, credit, and assets remain the pillars upon which mortgage lenders evaluate borrowers' financial sta-

bility and capacity to repay loans. Remember to maintain a stable employment history, monitor and improve your credit, and nurture your assets. By paying attention to these basics, you'll be better equipped to navigate the mortgage application process and increase your chances of securing your dream home.

At George Mason Mortgage, we are here to help you every step of the way, and we are committed to working for you. As a digital mortgage lender, we have the technology and security resources to make your home buying experience as smooth and safe as possible. We are dedicated to being your go-to resource. Please feel free to contact me with any questions you may have or to get started on your journey home. n

Levonia Wiggins, Jr. VP, Sales Manager Community Lending

NMLS ID: 104482

O: (240) 268-1924

M: (571) 216-8931

F: (703) 653-8119

700 King Farm Blvd Suite 620 | Rockville, MD 20850

lwiggins@gmmllc.com

Apply online: www.gmmllc. com/levonia-wiggins/

This article is based on the personal opinion and experience of the author and the views and opinions expressed are those of the author and do not necessarily reflect the official policy or position of George Mason Mortgage, LLC. The information is intended solely for the personal non-commercial use of the user who accepts full responsibility for its use; it is provided on an “as is” basis with no guarantees of completeness, accuracy, usefulness or timeliness and without any warranties of any kind whatsoever, express or implied. This article is general in nature and should not be considered to be legal, tax, accounting, consulting or any other professional advice. In all cases you should consult with professional advisors familiar with your particular factual situation for advice concerning specific matters before making any decisions.

Prince George's Home Sales: High Demand Increases Home Values,While Low Supply Decreases Days on Market and Sales

The Prince George's County Association of REALTORS® (PGCAR) reports a Spring Market with high homebuyer demand but limited supply. While “Days on Market” decreased by 31.6% down to 13 days, “Closed Sales” also dropped, from 751 in March to 656 in April. New “Pending Contracts” were steadier, decreasing slightly from 890 in March to 868 in April.

The strong demand for Prince George's County homes at lower supply resulted in more all-time record highs in Median Sold Price and Aver-

age Sold Price for April. Median Sold Price was $419,950, a 1.2% increase over March and a 5% increase over April 2022. Average Sold Price was $435,243, a 2.3% increase over March and a 2.7% increase over April 2022. Contract activity for Prince George's County homes (656 Closed Sales, plus 868 New Pending Sales) greatly outnumbered “Active Listings” (averaging 810 in April) for the fourth consecutive month. This dropped the “Months of Supply” of "for sale" homes to 1.0, meaning that if no new listings are add-

ed, current listings would sell out in one month.

The increased mismatch in April sales activity versus inventory pushed the Contract Ratio (Pending Contracts per Active Listing) higher again to 1.60, an 18.5% increase over March. A rising Contract Ratio shows movement toward a Seller's market. All market indicators point to the continued strength of the Prince George's County home market, especially given the attractiveness and relative affordability of Prince George's County within the greater

Washington, D.C. region.

The lack of inventory to meet the demand for Prince George's County homes is of great concern. Several promising factors are helping Prince George’s market maintain its strength, although greater home inventory is a critical need to be solved.

POSITIVES INCLUDE:

1.  Interest rates are continuing to settle closer to 6%, historically considered a good rate.

2.  With several new home developments nearing completion, a wide range of single-family, condo, and townhome communities will come onto the market throughout the summer.

3. More owners of second or investment homes within the county are seeing the high value of selling.

4. Several new homebuyer savings programs are making the transition from renter to homeowner even more attractive and profitable.

5.  A lower DOM (Days on Market) tends to bring out Sellers who have been on the fence.

As PGCAR president and associate Broker of Keller Williams Preferred Properties, Rachel Jefferies provided insights on the economic and lifestyle benefits of homeownership.

"Prince George's County home sales are once again straining against a limited supply of ‘for sale' homes. A Spring sales surge of 40.6% in March followed by only 780 New Listings in April, further tightened available home inventory,” Jefferies said.

Due to the high demand and low inventory, Prince George's County Sellers are seeing faster sales and higher “Sold Prices.” Home values are strong. In fact, Prince George's County home values reached all-time April record highs. In April, the “Prince George's Median Sold Home Price” rose to $419,950, a 5% increase over 2022. The “Average Sold Price” increased 2.7% over 2022 to $435,243.

Prince George's still enjoys relative affordability within the greater Maryland-DC-Virginia region and is a highly desirable location for homeownership, allowing the county to outperform regional and national market trends.

A GREAT TIME TO SELL AND BUY

Sitting on the fence about selling?

It's a great time to sell! There is unmet homeownership demand at every price point, the April “Median Days on Market” was 13 days, and the “Average Sold Price” to “Original Listing Price" was 99.5%.

IT'S ALSO A GREAT TIME TO BUY!

First, with 30-year interest rates continuing to hover closer to 6%, now might be the ideal time to lock in a mortgage rate and payment. Once locked in, your monthly mortgage payment is protected against inflation.

Second, homeownership remains the greatest indicator of generational wealth. As economic concerns come and go, homeownership can stabilize your costs, steadily build your equity as you pay your mortgage, and is likely to provide a substantial financial gain as home values continue to increase over the next three, five, 10, and 20-plus years. Homes have a long track record of increasing in value over any 10-year period."

"Whether selling or buying, please contact a REALTOR® early in your decision,” Jefferies added. “Let a REALTOR® help set a favorable and realistic budget or price; manage the home searches and showings, inspections, appraisals, and myriad other details; and guide you towards a favorable outcome in buying or selling a home."  Buyers, have valuable discussions with your REALTOR® that help find the right home for you.

An objective professional working on your behalf can reveal more options to discover and best match your most important family, work, and lifestyle desires.

For example - a couple with two children purchased their ideal home. It was a townhome with a spacious common area and neighborhood pool they didn't need to maintain, instead of the single-family home they originally envisioned.

Also, let your REALTOR® introduce you to lenders experienced in a variety of mortgage options and incentives. Several homebuyer programs exist that can lower interest rates or assist with your down payment. There are amazing incentives available for Prince George's County homebuyers, including the $10,000 Pathway to Purchase,

CONTINUED ON PAGE HS19

Mortgage Assistance Program Expansion Estimated to Help More Than 1,000 Additional Marylanders Stay in Their Homes

The Maryland Department of Housing and Community Development has helped more than 11,000 homeowners behind on housing-related payments, including 6,000 who were facing foreclosure, stay in their homes since the Homeowner Assistance Fund program launched in March 2021. The Department has expanded the program to add an additional option for mortgage servicers to provide eligible homeowners with relief as interest rates have risen and affected the affordability of some loan modifications. The program now is able to fund up to six months of forward payments for eligible applicants and is estimated to help more than 1,000 additional Marylanders.

“The department has quickly adapted the Homeowner Assistance Program to extend its reach given new housing market conditions that didn’t exist when the program started,” said Jake Day, Secretary of the Maryland Department of Housing and Community Development. “This assistance supports long-term, sustainable solutions for homeowners who are still dealing with the aftereffects of pandemic-related hardships.”

CONTINUED FROM PAGE HS18

Maryland SmartBuy which allows up to $50,000 in student debt elimination, and numerous others."

THE VOICE FOR REAL ESTATE IN PRINCE GEORGE'S COUNTY

PGCAR is the voice for REALTORS® in Prince George's County, Maryland. Representing more than 4,000 real estate professionals in the national capital area, PGCAR is an affiliate of the Maryland and National Association of REALTORS®.

We are proud to serve our members and our community, and work to ensure professionalism in the industry. Our volunteers and staff work to offer services to real estate professionals and to provide avenues for our members to become more successful.

We proudly work to promote and protect homeownership and private property rights.  n

The Homeowner Assistance Fund offers legal assistance, loan modifications with payment of delinquent mortgages, grants to avoid displacement due to property taxes, association and water and sewer fees, and other housing related costs. So far, the program has provided more than $125 million to eligible homeowners, with an average of $17,100 of assistance for each household.

One such homeowner, a Bowie resident, was days away from foreclosure and shared their story on working with the Maryland Homeowner Assistance Fund.

“If it were not for DHCD and its Homeowners Assistance Fund team, I would have lost my home to foreclosure,” the resident wrote to the Department. “I was in a Chapter 13 bankruptcy and fell behind on mortgage payments due to COVID-related income reduction. I had consultations with two lawyers and they both informed me that time was not on my side and to try to sell my house as quickly as possible so I could get some equity out of it, but they were even pessimistic about that. I'm a single parent and was very scared of how losing my home would impact my 12-year-old daughter. My home was about 7 days away from a foreclosure sale when HAF stepped in and processed my application. The foreclosure sale was canceled two days later, and my loan was reinstated. HAF also paid for my water bill arrears! Shout out to HAF for having such amazing staff!”

No additional application is required to be considered for the new forward payment option, and the Department is also reviewing past applications to determine if those homeowners would be eligible for the forward payment option and reaching out to them to offer assistance. For more detailed information on eligibility and to apply for assistance, go to homeownerassistance.maryland. gov.

The HAF program was established by the American Rescue Plan Act enacted in 2021 to help homeowners experiencing financial hardship after January 21, 2020. The Maryland Department of Housing and Community Development was awarded a total of $248 million to administer through the program. n

Seven Ways to Protect your Family From Exposure to Lead in Water

By Kayla Benjamin Climate & Environment Writer

The District still has about 42,000 water service lines with lead in them, according to a D.C. Council-commissioned report released in September 2022. These pipes can leach the heavy metal into the water used for cooking and drinking. Lead is dangerous even at low levels, especially for children.

DC Water has committed to replacing every lead service line in the District by 2030, but the city will need to make some major changes in order to meet that goal. Councilmembers Janeese Lewis-George and Brooke Pinto both introduced legislation that would make some of those changes. But even in the best case scenario, thousands of D.C. households will wait years to get the lead pipes removed from their homes—and Black and low-income families are more vulnerable to the impacts of exposure. Luckily, there are steps you can take to reduce lead exposure from your family’s water. We spoke to

Dr. Olanrewaju Falusi, a longtime pediatrician at Children’s National in Columbia Heights and a former president of the DC Chapter of the American Academy of Pediatrics, to get her top tips for preventing and watching out for lead exposure in kids.

CHECK YOUR HOME’S SERVICE LINE MATERIAL ONLINE

DC Water maintains an online map of the city’s service lines, which are the pipes that connect water mains to homes and other buildings. You can search for your address to find out what your service line is made of at geo.dcwater. com/Lead/.

Each point on the map has information about the part of the pipe that runs from the water main to the curb, called the “public-side” service line, as well as the “private-side” part of the pipe that runs from the curb to the building. Each building is marked with a circle cut in half. If both halves of the circle

are green, your pipe is fully nonlead. Gray indicates a lead service line, and white indicates that the material is unknown.

If you click on the circle at your address, you can find more specific information on what your service line is made out of. That’s important because pipes made of brass and galvanized iron may still contain lead; in 2020, D.C. Council added them to the service lines slated for replacement.

INSTALL A FILTER AT YOUR TAP OR USE A PITCHER FILTER

If your home’s service lines are lead, brass, galvanized iron, or even copper—which often uses lead solder to join together segments of pipe—it’s a good idea to use a water filter for drinking and cooking, especially if you have children in your household. It’s also important to replace the filters on-schedule, according to the manufacturer’s instructions.

Look for filters labeled “NSF Standard 53.” Water filters certified

by the National Sanitation Foundation for that standard keep 99% of lead from reaching the drinking glass or cooking pot. Prices vary, but a 3-month filter that attaches to a faucet head can cost as little as $20.

USE COOL WATER—BOILING YOUR WATER WILL

NOT DECREASE LEAD CONCENTRATION

Lead is more likely to dissolve in warm water. Use cold tap water instead and heat it separately on the stove or in the microwave if it needs to be warm.

However, unlike bacterial conLEAD ON PAGE HS 22

Five Ways to Increase Your Home’s Value

Marcia Griffin Homefree USA

855-493-4002

There are many rewards to homeownership. You have a place to call your own, you can leave a legacy to your family and you have a vehicle for building wealth.

However, you may decide that you don’t want to stay in your current house forever. You may choose to move to a bigger house, you may want to relocate to a different city or state or you may simply want to sell your house for a profit.

If you do decide to sell, you want to get as much money for your house as you can. While you can’t control the real estate market, here are some steps you can take to increase the odds that your house will increase in value over time.

Keep the outside looking good. While you may be focused on your kitchen or your family room, the way your home looks on the outside to those who are passing by can affect your house’s worth. Many people are willing to pay more for a house that is attractive to the eye. That also goes for the houses of your neighbors. Houses in neighborhoods where the grass is cut, bushes are trimmed and yards are neat are likely to command a higher sales price than houses that are unkept and appear to be neglected. By taking the time to beautify your outdoor surroundings, you can increase your home’s overall value.

Get rid of inside clutter. Not only can it help to make the outside look appealing, but it can make a difference in your home’s value if you pay attention to how it looks inside as well. If you’re trying to sell your house, potential buyers could be turned off if they’re walking through and see closets stuffed with bags, clothes and other objects. Some potential buyers may not even realize why they’re turned off; they simply may feel like your house is not the one for them. When your house is free from clutter and your be-

longings are stored neatly, your home feels more comfortable. For a potential buyer, that extra comfort could be the one thing that drives them toward sealing the deal.

Advocate for stores, restaurants and leisure activities. Homeowners can benefit from Living near a lot of amenities. People like to have things to do. If your neighborhood has restaurants, stores and other places of leisure, you’re likely to attract buyers that would be willing to pay more money for your home. Neighborhoods near transportation hubs are also likely to attract more buyers. If you already own your home, pay attention to efforts to bring new amenities into your community and support them.

Make renovations that make sense. You may be dreaming about renovating your kitchen, but there is another reason to make the effort: Some renovations can increase the value of your house because potential buyers might be willing to pay more because you made those renovations. Some renovations are more valuable than others.

For example, credit scoring company Experian points out that renovating the kitchen and adding hardwood floors are among the changes that can make a big difference.

Make your home energy-efficient. One thing that many buyers take into consideration when choosing a house

is energy efficiency. If a house uses energy more efficiently that can translate into lower heating, cooling and maintenance costs for the buyer. There are a number of changes you can make to increase your home’s energy efficiency:

• You can upgrade to a smart thermostat that lets you adjust the temperature from anywhere.

• You can replace any windows where you notice drafts of air coming in.

• You can add insulation to your house.

Not only will you enjoy a more comfortable environment by making these changes, you may also be able to get more for your house when it comes time to sell.

Buying your home is only the first part of the journey. You want to make sure your home is kept up so that you can protect your investment and make it grow. If you’re unsure of steps you can take to ensure your house retains and increases value, contact a Homeownership Advisor.

Your home is a key component to your long-term plan for wealth. n

taminants, boiling water does nothing to reduce lead. In fact, it increases the concentration of lead in the water, because some of the water evaporates while the same amount of lead remains.

“If you're mixing up formula, or giving drinking water to babies, and you're using tap water, it’s best to use cold, filtered water,” Dr. Falusi said. “Sometimes people think, ‘Oh, if I boil my water, then it's safer.’ It's actually the opposite for lead.”

GET YOUR CHILD SCREENED FOR LEAD ON TIME: TWICE BEFORE AGE TWO

Children should be tested for elevated levels of lead in their blood once around their first birthday and again around their second. This is the time when children are most

likely to be exposed and the time when lead exposure is most dangerous.

“Even though lead can cause sometimes irreversible brain damage, the quicker we address it, the better the outcomes are for children,” Dr. Falusi said.

Only about a third of D.C.’s children are screened for lead, according to Janet Phoenix, a public health expert focused on environmental-related health issues like lead exposure and childhood asthma. Many District children are tested just before starting kindergarten. By that time, lead levels would have dropped even if the child was exposed earlier, when they were more vulnerable.

CONNECT WITH YOUR PEDIATRICIAN

Symptoms for lead poisoning are hard to detect, but if your child starts experiencing unusual mood changes, stomachaches, or headaches, reach out to your doctor.

HANDRAILS THROUGHOUT THE HOME

Handrails can be installed throughout the home to provide additional support and stability. This can be especially helpful in areas with stairs or uneven flooring. Handrails can also be installed in bathrooms and near toilets to provide additional support when getting up and down.

NO STEP, LOW OR FLAT THRESHOLDS

No step, low or flat thresholds can also be an important modification to consider. This eliminates the need to step over high thresholds or navigate uneven flooring, reducing the risk of trips and falls. This modification can also make it easier for seniors to move freely around their homes.

IMPROVED LIGHTING

Improved lighting can greatly improve safety in the home, especially for seniors with vision impairments. This can include installing brighter light bulbs, adding additional lighting fixtures, and installing motion-sensor lights in key areas. Improved lighting can

While these symptoms have many different causes, your pediatrician may want to conduct a lead screening test just in case.

“The thing about lead is that no level is really considered safe. And it can be very deceptive because the symptoms are often vague,” Dr. Falusi said. “That's what makes it tough to say, ‘Oh, that is definitely a child who has been impacted by lead.’ We don't know unless we check.”

Check for other sources of lead

In recent years, drinking water rarely causes acute lead poisoning in the District. If your child is experiencing noticeable symptoms, the exposure is more likely to come from paint, soil, or lead objects your child has put in their mouth.

If your house was built prior to 1978, you may want to check your walls for lead paint. The U.S. Consumer Product Safety Commission also keeps track of products recalled for containing too-high lead content.

also help reduce the risk of falls by making it easier to navigate the home safely.

A FEW SIMPLE MODIFICATIONS DO THE TRICK

Living safely at home as a senior can be a reality with a few simple modifications. Avoiding the trauma of moving to a nursing home is achieved by making the home safer and more accessible.

By taking the six steps, seniors can maintain their independence and continue living in their own homes. This can lead to a better quality of life, as seniors are able to stay connected with their communities and maintain their social lives.

Resources from local governments, nonprofits and healthcare providers can assist with the planning and investment required.

Additionally, staying active, eating well, and engaging socially further promote a healthy lifestyle for seniors. This way, seniors remain connected with their communities.

Rosalind Strickland is the owner of Rosalind Strickland Interior Design LLC and is a certified Senior Home Safety specialist. For more information, call: (216) 581-7233.

SENIORS FROM PAGE HS 9

Make homeownership your path to personal and intergenerational wealth

When Black homeownership rates increase, more Black households gain access to a proven way to build personal and intergenerational wealth.

Markets change but that does not mean buying a home is out of reach. At Wells Fargo we can help you navigate the home buying journey during all types of economic cycles.

Our mortgage affordability calculator1 on wellsfargo.com helps you determine which mortgage options best align with your financial goals.

When you are ready to talk, our Home Mortgage Consultants are here to help you create a plan to optimize the benefits of homeownership now and over time.

The Black homeownership rate rose throughout 2022 even in the face of rising mortgage rates, hitting 45.2% in the third quarter - up from 42.7% in 2019. This is the largest point increase of any racial or ethnic group.