Atlanta Urban League, Norwest Join Forces

The Atlanta Urban League has announced that it will join forces with Norwest Mortgage Inc. in an effort to convert more than 400,000 apartment renters in metropolitan Atlanta into homeowners."Until now, no major lender in metro Atlanta has made it a priority to provide affordable loan products, then ensure the stability of those homeowners well into the life of the loan," said Mandala Jones, housing director of the Atlanta Urban League. Under the arrangement, Norwest Mortgage will provide direct financial support to qualifying participants who suffer a temporary setback, such as a loss of income, in the first three years of homeownership. Five free homebuyer workshops will be held in the remaining months of 1998 to provide guidance on shopping for a home, loan qualifying and credit requirements, downpayment assistance, home inspections, and the closing process.