Funds Will Support Affordable Housing and Wrap-Around Services for Low-Income Veterans and Their Families.
November 3, 2020 (Los Angeles) – To meet the significant need for affordable housing and effective, no-cost services that equip veteran families to move up the economic ladder, Homes 4 Families announced it has been awarded a $25,000 grant from Bank of America. The grant will help build affordable homes and provide enrichment services to low-income veterans and military families in Los Angeles County.
Approximately 18 million veteran households pay more than 50% of their monthly income in housing costs. In Los Angeles County where the cost of living is already high, veterans typically live in severely substandard and overcrowded housing conditions. To address this, Homes 4 Families and Bank of America are working together to address the needs of vulnerable populations through affordable homeownership, direct services, equity building, and empowerment. Connecting individuals and families with the tools and resources to achieve their financial goals, Homes 4 Families recently hosted a virtual financial class to help first-time homebuyers learn money management skills. This grant further helps Homes 4 Families focus
on building its current project: a 56-home Veteran Enriched Neighborhood®, an affordable homeownership project to create a vibrant community that promotes economic stability and healthy living.
“Bank of America truly understands the urgent need for affordable homeownership for veterans, more urgent this year than ever,” said Donna Deutchman, Homes 4 Families President and CEO. “Bank of America continues to be a wonderful and involved partner, through grant funding, employee volunteerism, and Board leadership.”
Support from Bank of America comes at a critical time for the nonprofit, whose ability to hold their most important fundraising events has been affected by the COVID-19 pandemic, while the veterans they serve are in even more need of affordable housing and supportive services.
“The ongoing pandemic has disproportionately impacted lower-income communities and our veteran population who are at risk of poverty and homelessness. But organizations like Homes 4 Families help ensure the pandemic doesn’t exacerbate the housing and health challenges that
our military families face, and instead help set them up for long-term sustainable financial stability, ” said Raul A. Anaya, market president for Greater Los Angeles, Bank of America.”
Homes 4 Families and Bank of America recognize that safe and affordable homeownership is a fundamental piece of the puzzle that advances the economic mobility and health of our veterans and their families.
About Homes 4 Families
Homes 4 Families empowers low-income veterans and their families to enter the middle class through affordable, full-equity homeownership and sustainable housing combined with holistic services that build resiliency, self-sufficiency, and economic growth. Through its outcome-proven Enriched Neighborhood ® model, the nonprofit provides veterans, service members, and
their families with comprehensive wraparound services that equip them to succeed in civilian life, including financial education, therapeutic workshops, trauma-informed programs, and veteran-to-veteran support. With more than ten years of research-backed experience and success, Homes 4 Families works closely with the California Department of Veterans Affairs (CalVetREN) and others to build permanent, thriving veteran communities.
Homes 4 Families Media Contact
(818) 884-8808 x208