Atlantic City Focus
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Housing Secretary to clear path to affordable home ownership

U.S. Housing Secretary Marcia Fudge talks equity in Atlantic City

author
By Mark Tyler

ATLANTIC CITY — United States Secretary of Housing and Urban Development Marcia Fudge, who is African American, lives two doors from a predominantly white community.

Her house is bigger. Her lot is bigger. But her home is valued $25,000 less.

Bias in the home appraisal process is just one of the issues Fudge is working to address on behalf of the administration of President Joe Biden and Vice President Kamala Harris.

“We may not turn this ocean liner all the way around, but we’re going to turn it some,” Fudge said in an interview before addressing the 113 th Convention of the National Association for the Advancement of Colored People on Monday July 18 during the Federal Legislative and Public Policy workshop.

Fudge said she is working hard to make homeownership more attainable.

Putting more supply into the market, recalculating the impact of student loan debt in mortgage qualification, extending repayment terms to 40 years, and providing down payment assistance are four things that will help people transition from being renters to owners, she said.

“Most people can afford their rent,” Fudge said. “They can’t afford the down payment.”

Fudge said one key to putting more housing supply into the market would be having the Federal Housing Administration write smaller loans that traditional banks shy away from.

“Lenders don’t want to deal with mortgages under $100,000,” Fudge said. “Redlining does still exist.”

Fudge said affordable homes come onto the market but banks won’t finance the small amounts. Then investors come in, buy affordable homes for cash, make minimal repairs, and put them into the rental market, she said.

“Rents are so high people can’t even live in the neighborhoods they grew up in,” Fudge said.

But things are going to change, she said.

“We want to make lives better,” Fudge said. “The message is that, government can work.”

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author
Mark Tyler

Founder

Mark Tyler graduated from Atlantic City High School and went on to Columbia Union College, in Takoma Park, MD, which is now Washington Adventist University.

Mark earned a BA degree in Journalism. His major was Journalism/Publications. His minor was Communications. Upon graduation, he accepted a three-month internship with his hometown paper The Press of Atlantic City. That three-month internship was extended to six months and in the fifth month he was hired as a professional Staff Writer.

Mark worked as a Staff Writer for The Press for approximately six years before also being given responsibilities as a Weekend Assignment Coordinator.

During his 10 years at The Press, he won the following awards:

New Jersey Press Association Better Newspaper Contest

Responsible Journalism First Amendment

 (The Art Weissman Memorial Award)

Local School Boards Rack Up Travel Expenses

3rd Place, Daily over 60,000

2002

New Jersey Press Association Better Newspaper Contest

Reporting and Writing, Community Home Run Award

Her Kitchen Long on Love, Short on Funds

3rd Place, Daily Over 60,000

2002

Garden State Association of Black Journalists

Features Award

Big Ben

2nd Place, Daily Over 60,000

1998

Mark prides himself on upholding the highest standards of journalistic integrity and has been working tirelessly to make this website a respected source for local news, events, business listings and discussion!

RELIGION

Mark has been a life-long Seventh-day Adventist Christian. He observes the Sabbath from sunset on Friday evening until sunset on Saturday evening so if you reach out to him and he doesn’t respond immediately please don’t be offended. He is observing his faith.

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