An interview with Viva Home Team CEO Michael Barnes

EDINBURG, Texas - The median U.S. renter has $6,300 in net wealth. The median U.S. homeowner has $254,000 in net wealth.Edinburg-based Viva Home Team wants to reduce that gap by helping renters."At Viva, we are a mission-driven team dedicated to closing the 40X renter wealth equity gap. We believe that everyone deserves the opportunity to build wealth and achieve financial stability, regardless of their housing status,” said Viva CEO Michael Barnes.“We strive to empower renters by providing access to essential benefits - resources, tools, and support to help them improve wealth and well-being - to achieve lasting financial resilience. Our goal is to bridge the gap between renters and homeowners, fostering a more equitable and inclusive society.”The Rio Grande Guardian conducted an audio interview with Barnes to ask how Viva is going about this. In the interview, Barnes said homebuyers in Hidalgo County are missing out on more than $5 million in free grants every month, with each family potentially losing out on over $5,000 in grant money when purchasing a home. Barnes said this “alarming trend” means that, in a year, homebuyers in Hidalgo County could collectively miss out on $60,000,000. “Why spend $5,000 cash at closing when this money could be saved for emergencies or essential home renovations after the purchase?”In the interview, Barnes said Viva has uncovered that a significant majority of Rio Grande Valley homebuyers - more than 90 percent - qualify for a time-limited grant worth $5,250. He said this grant, backed by Fannie Mae, can be accessed directly through their Viva Home Team program.Editor's Note: Go to the Rio Grande Guardian website to read the full story.Go to www.riograndeguardian.com to read the latest border news stories and watch the latest news videos.