WOW! Meet These Black Businessmen That Have Helped Over 50 Families Become Home Owners In 6 Months
July. 11, 2020
“Black homeowners are much more rare today than any time in the last 50 years,” economist Ralph McLaughlin told Bloomberg recently.
Matters such as this formed the basis of a recent discussion on Facebook that brought two young black men Christopher Watson and Aaron Steede together for the first time.
Observing people’s complaints, the two realized that the lack of homeownership among the African-American community was due to the lack of education about credit. To help reverse the trend, the two founded Credit Bros, a company that seeks to eliminate financial illiteracy by assisting individuals who need financial and credit guidance.
From receiving its first client in 2018, the company has expanded its client base from Nashville and Atlanta to have clients from all over the world. The other development is that since going public in May 2019, the company has helped over 50 families become homeowners.
“When considering a credit repair company, we want our clients to understand the value of maintaining a healthy credit score. Our first step in the consultation is understanding your credit history, focusing on your goals, and most importantly helping you reach your goals. Our process is simple we do the work, and our customers benefit from the work that is given,” the company said.
“We are doing this to help strengthen the communities that we came from as kids, and our focus is to teach what we weren’t taught. If you are interested in being a homeowner, we should be your first point of contact,” co-founder Watson explained.
Hoping to grow into a big operating financial powerhouse in some years to come, the company is already receiving positive reviews from its clients. Over the years, the black homeownership rate has been lagging behind that of white families, and this gap has widened since the Great Recession, a report by Prosperity Now said.
It added that in 2017, the black homeownership rate was the lowest of all racial and ethnic groups at 41.8 percent, about what it was when the Fair Housing Act was passed in 1968. Experts have blamed the situation on affordability. A Bloomberg report said renters across the U.S. are unable to find properties they can afford as starter-home prices continue to rise.
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