Mayor Franklin continues to address the City’s commitment to affordable housing through a new employee homeownership and financial education initiative, Atlanta 4 All, announced at a news conference today by Atlanta Mayor Shirley Franklin.

The City, in coordination with HomeFree-USA and Freddie Mac, is implementing a Workforce Home Benefit initiative to make the homebuying process easier for employees to understand and navigate. The City’s initiative is based on Freddie Mac’s signature employer-assisted housing resource toolkit that provides information on purchasing or refinancing a home, as well as downpayment and closing-cost assistance programs. 

During the event at City Hall, Bank of America Home Loans, SunTrust Mortgage, HomeFree-USA and the Atlanta Development Authority were on hand to provide city employees with credit counseling, homebuying education and downpayment assistance information.

“There is a broad gap between homeownership rates and the ability of working families to afford housing in Atlanta,” said Mayor Shirley Franklin. “With the homebuyer education and assistance programs, we hope to bridge that gap and help our employees live in proximity to where they work.”

Atlanta 4 All will allow the City to promote in-town living and its many lifestyle, economic and environmental benefits. In turn, the City will enjoy increased tax revenue, fewer foreclosed properties and more stabilized neighborhoods.

“We’re excited to be part of an initiative that helps future homeowners understand the buying process so they know when they are ready to apply for a mortgage, the types of mortgage products available, as well as the long-term financial commitment of homeownership,” said  Dwight Robinson, senior vice president of Corporate Relations and Housing Outreach for Freddie Mac. 

Terri Lee, Deputy Commissioner of the City of Atlanta Department of Planning and Community Development said, “There is no better time to buy a home in the City than right now. Not only do we have several programs through the City and the Atlanta Development Authority that make home ownership affordable, but the federal government is offering an $8,000 federal tax credit for first-time homebuyers.”

To serve the more than 500,000 residents and numerous corporations in Atlanta, the City employs more than 7,000 people in various departments. 

###

For more information about this and services of the City of Atlanta visit our website at www.atlantaga.gov or watch City Channel 26

 About the City of Atlanta

To download a comprehensive brochure listing all of the downpayment assistance programs available in the city, visit www.AtlantaGA.Gov or www.AtlantaDA.com. 

About Freddie Mac

Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. www.FreddieMac.com.

Quote Sheet:

“Bank of America Home Loans is committed to educating consumers, which enables them to make safe, informed decisions about their home financing needs.  And its signature events like this that align with our brand promise to always be a responsible lender and help create successful homeowners.”

Cerita Battles, Bank of America Home Loans Business Development Executive.

“HomeFree-USA is thrilled to bring this important employee benefit program to the City of Atlanta. It will financially empower, improve the credit stature, and instill a commitment to homeownership for the city’s most valuable resource – its employees.”

Marcia Griffin, Founder and President, HomeFree-USA