Posted: 2022-05-09 17:09:00 Modified: 09/05/2022 17:07:20 I recently read the wonderful news that Harvard is seriously committed t...
Posted: 2022-05-09 17:09:00
Modified: 09/05/2022 17:07:20
I recently read the wonderful news that Harvard is seriously committed to seeking redress for its part in the injustices of slavery and its repercussions throughout history. I was excited until I read the part that reported: “But the report stops short of making direct financial repairs and officials have no immediate plans for that kind of support.”
I beg them to reconsider. At a time when I had to flee an abusive marriage, as a single parent, I found myself receiving food stamps and Title XX childcare vouchers. As a white, college graduate, child of a doctor and a school counselor, I was shocked to be in such a position. When I called home in shame, I said, “Mom, I’m on food stamps!” My mom took a deep breath and said, “Honey, this is temporary for you. You are not generationally poor.
She was right. With my degree in education, I got a job that offered educational opportunities and I got my masters degree and a better job and quickly left government programs. And finally, thanks to my parents who co-signed the mortgage, I was able to buy a house. It was really important because the mortgage payment was less than what I had to pay for rent!
This security has made all the difference in my recovery and that of my children. My two children have now grown up with their own children and are also owners.
This is the reality I want Harvard to consider. Home ownership is at the heart of financial stability and opportunity. When you own your own home, your payments are fixed and you can plan accordingly. Banks are ready to trust you for other loans, auto loans, business loans. You increase equity. You know you have a place to live. Your money makes money.
Consider the difference you could make immediately in people’s lives if you provide the down payment to people of color and Indigenous people who never had that generational boost, due to the oppressive patterns of history.
Rents these days are really high. What if people could pay that money off as a mortgage instead of rent? Wouldn’t the whole economy be stronger?
Seriously, this would bring immediate relief and confidence to people who deserve it. Harvard could lead the way.
I hope you will seriously consider this proposal.
Dorothy Creswell
Belchertown
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