Champlain Housing Trust (CHT) expands its Homeownership Equity Program (HEP) Downpayment Assistance, offering a $25,000 forgivable loan to BIPOC buyers purchasing affordable homes statewide. Initially, operating in the northwest, nine partner agencies now cover every Vermont county.
According to Vermont Business, it is funded by a New England Federal Credit Union grant in 2021, the program’s expansion comes from $1 million of philanthropist MacKenzie Scott’s gift. CHT CEO Michael Monte aims to address historic homeownership gaps. Furthermore, shared equity allows reduced mortgages, ensuring permanent affordability.
The new agencies, including Downstreet Housing and Community Development, welcome the initiative. With 23 buyers benefiting from 2022, CHT aims to increase BIPOC homeownership, emphasizing equity and opportunity across the state.
$25,000 forgivable loans for non-Whites seen as discriminatory
They call themselves trying to right the wrongs of the past.. but this actually breeds more racism and hatred.
You can’t exclude groups of people and not expect them to take offense to that.
— Rob Coates
(@LuckyHippie926) May 8, 2024
Furthermore, conservatives claim that doing this will cause more harm than good. Additionally, conservatives add that not all White people are uber wealthy as there are a good number of them struggling as well. Groups that are exempted for perks like these will cause issues among the communities.
You have to buy it from their organization, anyone else catch that. It’s a scam to fleece them and when they can’t pay. They take it back and keep our $25K.
— Earwax Abe (@earwaxabe) May 9, 2024
In addition to this, Americans are asking if there are going to be lawsuits in place for this initiative. They feel that this move is discriminatory and there are laws in place in order to prevent things like this from happening. Unfortunately, it is happening and nothing much can be done about it.
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