BCHG Financial & Housing Counseling Program. October 2013 to September 2014

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Judith Rebecca Hines
8 years ago
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1 BCHG Financial & Housing Counseling Program October 2013 to September 2014

2 Pre-Purchase Workshops Credit, Budget, FTH Face to Face Counseling Access to Programs for First Time Homebuyers Bucks County First Time Homebuyer Program Community Lending Products Citi, Citizens, PNC, National Penn Bank, Susquehanna Bank First Front Door Program administered through several local lenders including First Savings Bank of Perkasie and William Penn Bank PHFA Homestead, Housing Finance Agency Preferred, Keystone Home Loan

Penn Bank, Susquehanna Bank First Front Door Program administered through several local lenders including

3 Foreclosure Prevention Workshops Mortgage Maintenance 101 Face to Face Information about various programs HAMP PRA, 2MP, FHA & VA HAMP HARP I & II PHFA HEMAP

4 October September 2014 Our counselors fielded over 750 phone calls requesting information on First Time Homebuyers Programs or Foreclosure Prevention

5 October September 2014 Services; 14 Workshops, 175 Attendees Financial Literacy 3 First Time Homebuyer 10 Other 1

6 October September 2014 Services; Face to Face First Time Homebuyer 34% purchased (22 purchases for a combined value > $3.5MM) 30% (19) used the Bucks County First Time Buyer Program The pre-purchase counselor also saw 1 client who was seeking rental housing or services for the homeless (credit counseling for shelter clients) Foreclosure Prevention 16% had a reportable outcome 46% were referred for rescue funds (HEMAP) 18% of HEMAP applicants received assistance 32% in counseling (including 14% who are participating in the Bucks County conciliation program) 2% withdrew from counseling

for the homeless (credit counseling for shelter clients) Foreclosure Prevention 16% had a reportable outcome 46% were referred for rescue funds

7 October September 2014 Racial Demographics *9% of clientele listed ethnicity as Hispanic

8 October September 2014 Age Demographics We served 312 households 445 adult individuals with 380 children under 18 35% of our clients were between the ages of 35 & % of our clients were between the ages of 18 & 34 1% of clients were over 65 years of age

our clients were between the ages of 35 & 64.

9 October September 2013 Marital Demographics

10 October September 2014 Income Demographics

11 October September 2014 Geographic Regions Served Upper Bucks Central Bucks Lower Bucks Outside Unknown Bucks County Upper 13% Central 12% Lower 68% Outside Bucks 5% Unknown 2%(Workshop Attendees)

Unknown Bucks County 300 200 100 0 Upper 13% Central

12 Collaborations Financial literacy workshops for clients of BCHG supportive housing programs, Morrisville First, and in conjunction with realtor outreach) Counseling to clients of Habitat for Humanity and Interfaith Housing Development Corporation Educational workshop for realtors with info on both FTH and Foreclosure Prevention

to clients of Habitat for Humanity and Interfaith Housing Development Corporation

13 Who are our clients? Quote from a workshop participant who is also a Bucks County employee - "I just wanted to tell you how much we learned today. It was a long day but everything you talked about was important. We really want to buy a house, but after today we know we have to go home and really talk about this budget stuff".

14 Who are our clients? A widowed woman who was current on the mortgage but in imminent danger of default came in for counseling. Her husband had died leaving a small life insurance policy, but the borrower needed to use some of those funds for much needed repairs. During counseling the counselor determined that the borrower was eligible for a modification on both the first and second mortgages. Payments were reduced by $500/mo. and also now included escrows for taxes and insurance.

Her husband had died leaving a small life insurance policy, but the borrower needed to use some of those funds for much

15 Who are our clients? Most of our foreclosure prevention clients suffered a loss of income, many are also underwater on their loans but want to keep the house.

16 Challenges Access Bucks County is a large county and gas prices are rising. We hope to increase accessibility by using technology. We are currently working on creating Webinars for First Time Homebuyer and Foreclosure Prevention Clients

17 Challenges Funding Always a challenge we are working on ways to streamline work processes and track outcomes to attract more funders. Staffing we lost a seasoned counselor in July We have not replaced her.

18 Challenges Time Never enough! We currently have 2 steady volunteers and are working on adding more volunteers to the mortgage department to help with phone calls, data entry, and other tasks

19 Financial & Housing Counseling Program Thank you! Prepared by Sherry Pace: Housing Counseling Program Manger

Metro Interfaith Housing Counseling. Tell Us About Yourself. General Information Primary

Metro Interfaith Housing Counseling 21 New St, Binghamton, NY 13903 Phone: 607.723.0582 Fax: 607.722.8912 Tell Us About Yourself Print clearly. Use additional sheets if necessary. Information provided