There have been many people affected by the housing crisis nationwide, and Beyonce is stepping up and giving back, once again. She is giving away a total of $500,000 to people who are facing evictions or foreclosures due to the crisis at hand.
Beyonce and the BeyGOOD Impact Fund
Starting January 7, 2021, people can start to apply for the $5,000 grants. 100 people will be selected to receive the grants, and they will be sent out in late January. Beyonce has been known for giving back quite often to those in need, and this is only Phase Two of what the BeyGOOD Impact Fund is doing to help those in need and impacted by the existing housing crisis.
Since the housing freeze ended on December 26th, there will be a rise in mortgage foreclosures and even rental evictions, which will impact many families and even result in job loss as well as an economic downturn.
Homeowners and Renters in Danger
According to Census data conducted by the Center on Budget and Policy Priorities, there are about 9.2 million renters in the U.S. that have lost their income this year due to the circumstances and are behind on rent payments. Once the housing freeze is lifted, many of those renters will have to pay back their entire rent or agree on a payment plan with their landlord. Some of them can also face losing their homes entirely.
The people who apply for the grants that will be given by Beyonce will have to submit the necessary documentation to the NAACO (National Association for the Advancement of Colored People by the set deadline.
Beyonce and the BeyGOOD Foundation have also helped Black-owned small businesses that were affected in 2020 by the various circumstances by also providing them with $10,000 grants. Bey and the BeyGOOD Foundation have worked with people in need in previous years like helping with the local Texans after Hurricane Harvey hit and displaced numerous people.