About Us

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Originally from Cleveland, Ohio, Bobbi Meredith is firmly planted in Charlotte, NC but continues to serve the residents of OH, along with Indiana, Pennsylvania, Virginia, South Carolina, Florida, Georgia, Alabama, Texas and California.

For more than a decade Bobbi has been helping people achieve their goals and dreams of homeownership.

Bobbi and her team of loan officers takes all the time necessary to identify exactly what her clients are looking to accomplish and then customize a loan program to ensure they reach their financial objectives. She also understands that no two clients are the same and therefore no two loans can ever be the same. Bobbi is excited about finding creative financing solutions for her clients, no matter how complex the situation. She utilizes her dedication to learning, along with her experience and unparalleled insight to better understand the forces that drive market trends. By staying up-to-date on the latest complexities of mortgage lending, technology and cutting-edge marketing techniques within the industry, Bobbi has become a vital resource for homeowners and Realtors alike.

Bobbi’s passion of being a Branch Manager and Senior Mortgage Loan Originator runs deep because she is able to assist families by changing their lives for the better, one household at a time. Nothing gives her greater satisfaction than knowing that she has made a positive impact with families across the country.

Executive Summary

Bobbi Meredith is the founder and Executive Director of New Home Owners Organization, Inc. (NHOO) a 501 (c)(3) nonprofit organization that offers a variety of financial literacy and housing counseling services.  It is the mission of NHOO to educate and equip underserved families and individuals to attain homeownership through education, guidance, counseling and credit improvement programs for past, current and future homeowners.  We are committed to sustaining a superior level of integrity and excellence while guiding those who may have challenging situations to their desired dream of homeownership.

NHOO’s vision is to provide a comprehensive solution for impoverished families in underserved communities.  Our program will empower and enrich the lives of the people by giving them the tools they need in order to make positive behavioral changes that will improve their financial futures by building wealth through homeownership and financial literacy.  We are committed to sustaining a superior level of integrity and excellence while guiding those who may have challenging situations to their desired dream of homeownership.  The majority of our clients are minorities, and this is from generation to generation, they have never understood credit, finances or possessed money management skills.

According to the Federal Reserve, a typical Black family has about $24,000 in wealth compared to about $188,000 for a typical White family.  Homeownership plays a significant role in wealth creation.  It is my goal at NHOO to make affordable homeownership a reality, leveraging family stability while creating and sustaining generational wealth for minorities and underserved individuals in low-income communities.

Needs Statement

Based on the data collected by Strategic Research Group (SRG) it shows that Ohio’s poverty rate is estimated to be 12.7%, which continues to lag behind the national poverty rate of 11.9%.  In fact, Ohio’s poverty rate has exceeded the federal rate consistently since 2016.  Unfortunately, affordable housing continues to be a problem for low-income Ohioans.  Among Ohio’s lowest-income homeowners (those earning 30% AMI or less), 67% are considered to be severely cost-burdened, defined as spending at least 50% of income on housing-related costs.  Conversely, just one percent of homeowners from households with earnings above the Area Median Income (AMI) are considered to be severely cost-burdened.

The National Low Income Housing Coalition’s (NLIHC) annual data for Ohio shows that the state has a shortage of affordable and available rental homes for extremely low-income renters; they indicate that Ohio is short by over 252,000 units.  NLIHC also notes that the annual income required to afford a two-bedroom rental that the fair market rent rate established by the U.S. Department of Housing and Urban Development is nearly $9,000 more than the income threshold for a family of four who are considered extremely low income.  In other words, fair market rent prices in Ohio far exceed the income of a family experiencing poverty.

While some Ohioans have begun to return to aspects of pre-pandemic life, the lives of countless others continue to be affected in ways made difficult by the pandemic.  Minorities and low-Income Ohioans continue to be disproportionately impacted by issues like the housing shortage and unaffordability of rent.

Cuyahoga County has a long history of racial segregation, mortgage redlining of African American neighborhoods, and predatory lending based on race.  Cuyahoga County remains part of one of the most racially segregated regions in the United States, and people in predominantly African-American neighborhoods often cannot obtain mortgages to buy houses in their neighborhoods.  The Fair Housing Center has published multiple reports examining local and ethnic disparities in mortgage lending patterns.

In 2013 in Ohio, African Americans were denied home purchase loans 25.5% of the time, compared to 17.9% for Hispanics, 14.4% for Asian Americans, and 13.3% for Whites.  Upper-income African Americans were more than twice as likely as upper-income whites to be denied a home purchase loan.  In 2012 African Americans were denied home purchase loans 25.8% of the time, Hispanics were denied 21.1% of the time and Asian Americans were denied 16.58% of the time, and whites were denied 14.3% of the time.  Upper-income African Americans are being denied mortgages at comparable rates to lower-income Whites.

According to Redfin, homeownership in Cleveland for Blacks is 36%, for Whites, it is 75%.  National numbers show a similar trend; huge disparities between races in a variety of housing and financial sectors.  Frank Ford, Senior policy advisor with the Western Reserve Land Conservancy, has been studying housing trends in Cuyahoga County, to which he stated [since the housing collapse], “The majority of African-American communities are not recovering anywhere near to the level that the predominantly white communities are”  East side of Cleveland peaked around 2005 at $75,000 median sale price.  But it dropped to $5,000 within a few years.  And it has only come back now, as of 2020, to $35,000.”

Ford said it created lasting effects in Black neighborhoods.  For those who managed to keep their home, many saw values diminish because the surrounding area had deteriorated so much.  “That’s a huge loss of wealth for the black family.” “And in terms of the ability to pass that wealth on, that’s a very tragic situation.

In order to help families of these neighborhoods and these communities recover, NHOO will remove the barriers and obstacles to buying a home for underserved families and individuals.