From posts here on The Fur and UPTOWNflavor, I am guessing that many long-time Harlem residents actually appreciate some of the effects of gentrification: safer streets, better schools, increased services and better food in the grocery stores. It's loosing one's home in the process of this change that, understandably, people don't like.

So how do people find a way to stay in their homes thru gentrification? The best defense is to own your home.

If one rents and property values increase, one can expect their rent to increase, with the possibility that their rent may exceed what their income allows, and they may have to move. If one owns and property values increase, one builds equity that can be used for retirement, investing or passing on to one's children so that their family can build wealth across generations.

Right, but this is easier said than done.

As mentioned here, down payments and closing costs can add up to a huge financial barrier for those crossing over into home ownership. However, the Neighborhood Assistance Corporation of America (NACA), a national non-profit organization advocating home ownership, not only provides mortgages with below-market fixed rates, even for those without perfect credit, but the organization's program also eliminates down payments, closing costs and associated fees. They will even pay for a broker and an attorney when you purchase.

The whole program costs about $20.

From the website: NACA began in 1988 in Boston as the Union Neighborhood Assistance Corporation (UNAC). Its roots are with the Hotel Workers Union - Local 26, an activist union that won and established the country's first housing trust fund for union members. NACA employed the union's activist tactics to confront lenders that were redlining communities by denying credit to minority neighborhoods and exploiting low- and moderate-income homeowners.

The result is over $10 billion in funds for providing below-market rate, 30-year fixed-rate loans to get people into home ownership. And yes, you can use NACA's program to refinance if you are on the butt end of predatory lending.

There is no income ceiling for participating in NACA's program, but there is a limit on the purchase price of the place you can buy. Currently, purchases for a co-op or condo are limited to $362,790, with higher limits for two, three and four family homes.

Check out NACA's website for more information.