Affordable Housing Partnership Housing Counseling Program
|
|
- Kerrie Harris
- 8 years ago
- Views:
Transcription
1 Affordable Housing Partnership Housing Counseling Program ORGANIZATION AND STAFF INFORMATION Name of Organization: Affordable Housing Partnership of the Capital Region Inc. 255 Orange Street Albany, New York Executive Director: Susan Cotner Telephone and fax numbers telephone #: fax #: Susan Cotner: Federal Tax ID Number: Goals of Counseling Program The Affordable Housing Partnership provides assistance to first time home buyers and existing homeowners in the Capital District of New York, with a focus on serving families from the city of Albany. Historically, 80% of the households we serve earn less than 80% of median income, and 50% of the households we serve are non-white. Our counseling program goals include: Improve the financial health and stability of families through credit and budget counseling and financial literacy education. The increased wealth and financial stability of families leads to more sustainable neighborhoods. Counsel and educate families in the purchase of their first home to enable them to build wealth through homeownership. Counsel and educate homeowners so that they protect their equity and make good financial decisions by: avoiding predatory lenders; choosing the best mortgage refinance option; hiring good contractors and making wise repair investments in their home. Assist homeowners and help stabilize neighborhoods by providing mortgage default and foreclosure prevention counseling and education. Help stabilize neighborhoods by promoting and maintaining homeownership through securing and providing down payment and home repair resources that benefit low Affordable Housing Partnership page 1
2 income homebuyers and owners in urban neighborhoods Promote smart growth through a partnership with the Capital District Transportation Authority (CDTA) to encourage housing choices close to existing transit routes. CDTA provides two years of two free bus passes to first time homebuyers. Promote affordable homeownership through education about environmental issues with housing, such as lead, mold, asbestos, weatherization, etc. Homebuyers in Albany are referred to the City of Albany s lead abatement program as well as to the weatherization programs available through local agencies as well as NYSERDA. Partner and collaborate with other community based institutions through the Community Development Alliance of the Capital District. An inaugural project is with SUNY Albany s Planning Department to study the neighborhood surrounding our offices. This initial project with SUNY Albany will assist us by giving us a baseline of the economic and social indicators of the neighborhood; provide specifics about how our housing programs need to be adjusted to support re-development; and survey business and economic opportunities. 2. Description of Services: For first time homebuyers, the Partnership provides homebuyer education classes, mortgage and grant pre-qualification counseling, credit repair and budget counseling, and serves as a clearinghouse of information on down payment assistance programs and affordable housing projects. We also offer an Individual Development Account program that combines homebuyer education and financial literacy courses with a matched savings program for down payment and closing cost assistance. We periodically secure and provide down payment assistance grants from New York State or the Federal Home Loan Bank. We provide counseling for local Section 8 Housing Voucher programs. For existing homeowners, the Partnership provides financial literacy workshops and postpurchase education. We provide individual counseling to address mortgage refinance options, mortgage delinquency and foreclosure prevention strategies. We offer assistance to families who are victims of predatory loans through counseling and referral to legal services. A. Home Buyer Education: The Partnership offers a variety of education seminars, designed to meet the needs of the client. As a first step, clients are encouraged to attend our orientation session, Homebuyer 101 that describes the homebuying process, mortgages and grants. Attendees provide permission to allow the Partnership to obtain a credit report, and participants are then contacted with their next step. If the client s credit score is less than 600, clients are encouraged to attend our financial literacy workshops; afterwards, they are either encouraged to meet with a housing counselor for a one-on-one counseling session, or are referred to legal services or a debt management program. If the credit score exceeds 600, clients are given a one-on-one pre-purchase counseling appointment to establish a detailed next steps plan. One of the first next steps for credit-ready clients is to attend homebuyer education workshops. Financial Literacy Workshops: The Partnership offers money management workshops, based upon a variety of financial literacy curriculums. This two-part workshop is geared to helping households improve their financial readiness to purchase a home by describing strategies to improve credit scores, reduce debt, and save money. A complete set of these workshops is held eleven times a year. Clients are advised to contact a housing counselor for a one-on-one Affordable Housing Partnership page 2
3 appointment if they want additional help in repairing credit or when they are ready to proceed with home purchase. Homebuyer Education Workshops: In this program, pre-purchase education is offered through a two-part seminar series. The workshops address: 1) budgeting for home ownership, credit repair, mortgage qualifying and down payment assistance programs; and 2) shopping for a home, home inspection; the loan closing process; keeping your home and managing your finances, including property taxes, insurance, predatory lending, and hiring a contractor. These workshops cover all HUD required topics consistent with being a HUD-approved counseling agency. We use the nationally recognized NeighborWorks Realizing the American Dream curriculum. AHP staff market the seminars, teach the workshops and secure guest speakers (bankers, realtors and home inspectors). We average 15 people in attendance at these seminars. We hold a complete series of workshops at least six times a year. Families have the choice of attending both in one month, or taking two months to complete the seminar series. These sessions are held on Saturday mornings. B. Home Purchase Counseling: One-on-one pre-purchase counseling sessions are held on a daily basis. The sessions take 1.5 hours during which time the following occurs: Obtain information to identify the client s housing need and goals Provide a brief overview of the purchase process Develop a pre- and post-purchase household budget to confirm affordability of a mortgage payment Review a credit report, and if needed, develop a specific credit repair plan. Collect and analyze borrower s income and debt information. Review mortgage products and down payment assistance programs, and pre-qualify the family for a mortgage loan amount. Design a homeownership action plan that outlines specific next steps in the purchase process. Refer client to other agencies if necessary. Afterward, staff and clients maintain contact to monitor progress in addressing obstacles to homeownership. C. Section 8 Housing Voucher program: Affordable Housing Partnership is the counseling partner for the Albany Housing Authority. An entry point for most Section 8 voucher holders is the two-part financial literacy training and an orientation session about the Section 8 homeownership program. Clients then attend one-on-one counseling sessions to establish their homeownership plan and work on financial goals for the Family Self Sufficiency program. Partnership and Housing Authority staff meet with lenders to ensure that the Section 8 homeownership program and underwriting works smoothly for the clients. D. Post-Purchase Education: The Partnership offers regular workshops targeted to homeowners on the following topics: Landlord-tenant training: Tenant selection; budgeting, maintenance; legal issues. How to hire a contractor: Contractor selection; contract language; project scope; resources Affordable Housing Partnership page 3
4 E. Post-Purchase Counseling: We meet with homeowners to assist with budgeting and mortgage refinance options, particularly in advance of a possible interest rate change or concerns about continued mortgage loan affordability. F. Mortgage Default and Foreclosure Prevention: Staff meet with individuals at various stages of default to determine the cause of the default; the amount and extent of default; availability of resources to resolve default; review budgets; and develop money management strategies to become current with their mortgage. Staff contact lenders and advocate for the appropriate reinstatement plan when feasible. Mortgage modification program options are reviewed. If necessary, referrals are made to Consumer Credit Counseling s debt management plan and bankruptcy attorneys. The foreclosure process is described, and alternatives to foreclosure (sale of the property, deed-in-lieu, and pre-foreclosure sale program) are reviewed. The Partnership is a lead agency in the HomeSave Coalition, a group of 14 housing counseling and legal service providers working on the foreclosure issue in the Capital District. This multiagency initiative involves: marketing and outreach, including letters to delinquent homeowners about foreclosure prevention services; individual counseling to prepare clients for settlement conferences; legal assistance to clients facing foreclosure; a monthly foreclosure clinic for counselors and attorneys to meet briefly with individual clients to understand the homeowner s issue, explain options and describe next steps. G. Outreach initiatives: We have developed good relationships with major employers and have tabled at employee benefit fairs at county government offices, medical centers and other social service providers. We have an extensive social services list that we send out information to on a regular basis to promote seminars. We partner with various non-profit organizations to offer financial literacy workshops, including the Albany Public Library. We are an active participant in the CASH Coalition which promotes VITA sites and wealth building activities such as the IDA program and use of the Earned Income Tax Credit. The Partnership reaches many people from our Internet web site, including referrals from the HUD web site, as well as through internet search engines. We have a well used interactive web site ( that has greatly assisted us in the marketing of our programs. The web site has a comprehensive list of down payment programs, and permits our customers to register for workshops on-line. During some months of the year, the web site has over 1400 unique visitors. The Affordable Housing Partnership sponsors the annual Housing Fair for the Capital Region. This entails marketing using all forms of outlets such as television, print media, and radio. Over 250 people attended this year, and the event featured mortgage lenders, realtors, home inspectors as well as HUD. 3. Response to Community Needs Assistance to first time homebuyers: The City of Albany s most recent consolidated plan identified the need to increase homeownership options throughout the City of Albany and to Affordable Housing Partnership page 4
5 increase the rate of minority homeownership. These priorities are among eight that include rehabilitating existing buildings and redeveloping vacant buildings. These priorities are based upon an analysis of the following data from the 2000 Census for the City of Albany: % City residents who are Minorities 39% % Single Parent HH 16% % Owner Occupied Units 38% # HH with 50% or more rent burden 7,559 # of vacant housing units 4,579 (42% cannot be occupied) The City s survey of the community completed for its consolidated plan indicated that over 96% of all survey respondents listed the increased availability of affordable housing as the highest priority of all activities in the survey. In addition, a local foundation commissioned a telephone survey of renter households earning between 50% and 120% of area median income, and concluded that there are 15,000 households in the four-county Capital Region extremely interested in receiving homeownership assistance services. Those interested in assistance most frequently cite financial concerns as the primary barrier to achieving their homeownership goal. (Council of Community Services of NYS for the Charitable Leadership Foundation, November 2001) HMDA data from 1999 supports the need for counseling in low-income communities. This data indicates that subprime lenders take the majority of loan applications in low-income and minority communities in the Capital Region. Affirmative marketing and counseling assistance is needed to inform families of lower cost alternatives. Recently, a local forum on homelessness prevention, local non-profit, public housing authority and community development agency leaders advocated for an increase in credit and budget counseling services as an important step in rental housing stability and as a first step toward homeownership. In another local initiative, community members are organizing around a convention center to be built downtown. The community continues to argue that affordable housing is the greatest need for the neighborhoods, and they have begun to advocate for a Community Benefits Agreement that would increase affordable housing funding. The Partnership s programs respond to these statements of community needs through its counseling and education programs as well as its ability to attract down payment and rehabilitation resources to the City from federal and state sources. Foreclosure Prevention: Like many areas throughout the country, the low income, minority and rural communities in Northeastern New York have been subject to predatory lending and subprime loans. Acorn Fair Housing identifies the Albany- Schenectady-Troy Standard Metropolitan Statistical Area as the 48 th highest risk metropolitan area in the country in terms of foreclosure exposure, the highest in New York State as of September This is based on Home Mortgage Disclosure Act (HMDA) data, showing that 36.7% of all refinanced and home purchase loans were high cost. According to the Empire Justice Center s analysis of the Federal Reserve s data, there were a total of 6,499 subprime loans originated in the four county Albany SMSA (Albany, Schenectady, Rensselaer and Saratoga Counties). By October 2007, 28% of these loans were in jeopardy -- Affordable Housing Partnership page 5
6 21% were 30 or more days late (1,358) and 7% were in foreclosure (453 loans). The future will hold more trouble as 23% of these subprime mortgages will reset by October 1, 2009 (Empire Justice Center, March 28, 2008). The Partnership has responded to the foreclosure crisis by partnering with other counseling agencies in the region to offer high quality education and counseling services. Together the groups have obtained funding for rescue grants of $1000-$3000 to assist of homeowners reinstate their mortgages. The groups have worked together on outreach and marketing to reach those in trouble and worked to strengthen their services though a joint partnership with the Legal Aid Society and the Empire Justice Center. 4. Related Resources for Homeownership A. Capital District Individual Development Account Program: This matched savings program uses funding from the Federal Home Loan Bank and from the New York State Division of Housing and Community Renewal. Eligible families must save in a dedicated savings account, and after 10 to 24 months of consistent savings, receive a four dollar match for every dollar they save (up to $7,500.) Families are required to attend home buyer education, counseling, and financial literacy seminars. During the program year, we anticipate leveraging $120,000 from the Federal Home Loan Bank. B. Affordable Housing Development: The Partnership, with its staff sharing arrangement with the Albany Community Land Trust assists that organization in the redevelopment of vacant buildings for sale to low-income families. Each year, four to six abandoned buildings are rehabilitated to help increase homeownership rates in two low-income neighborhoods in Albany. C. Realty Services: The Partnership is one of seven organizations that have come together to create the Capital District Homeownership Collaborative. The major initiative of the Collaborative has been to support the development of Community Realty, a real estate company that specializes in buyer representation. Local counseling agencies were finding that area realtors were not recommending down payment programs and first time homebuyer mortgage products in the best interests of our mutual customers. In addition to working closely with area counseling agencies, Community Realty promotes the benefits of purchasing a home in our city neighborhoods. D. Foreclosure Prevention Fund: The Partnership administers a $35,000 pool of funds to help families avoid foreclosure by providing small amounts of funds ($1,000 to $3,000) to help bring mortgage payments current. Households receive extensive counseling, and must illustrate that they can continue to afford their home once this assistance has been provided. E. Promote Use of Mass Transit: The Partnership has an agreement with the Capital District Transportation Authority to promote a CDTA incentive to purchase their first home in a transit supportive neighborhood. Homebuyers receive 2 free bus passes for a two-year period. Affordable Housing Partnership page 6
AHP Homeownership Center. Annual Report 2015. Mission
AHP Homeownership Center December 10, 2015 Annual Report 2015 Mission The Affordable Housing Partnership of the Capital Region promotes successful, sustainable homeownership and affordable rental housing
More informationRoles of a Housing Counselor
Roles of a Counselor Homeowners! Get real help, free of charge from a HUD approved counseling agency. Denise Keiser, Executive Director Center for Financial Health Who is a housing counselor? Employed
More informationPre-Purchase Counseling Application
Pre-Purchase Counseling Application Guidance on purchasing a home and qualifying for downpayment assistance Pre-purchase counseling helps prepare the first-time homebuyer for the home purchase process
More informationThe Coordinated Plan. to Address Foreclosures in Minnesota
The Coordinated Plan to Address Foreclosures in Minnesota An overview of the Goals, Strategies, and Successes of the Minnesota Foreclosure Partners Council September 2010 The Crisis The number of mortgage
More informationThe Coordinated Plan. to Address Foreclosures in Minnesota
The Coordinated Plan to Address Foreclosures in Minnesota A review of and as summarized by the Minnesota Foreclosure Partners Council March 2009 The Problem The number of mortgage foreclosures in Minnesota
More informationForeclosure Information & Assistance 2010 (updated 10/10)
This information can also be found on the web at: http://humanservices.townofmanchester.org/elderly/documents/forclosureassistance2010.pdf Summary of P.A. 08-176 An Act Concerning Responsible Lending and
More informationHOUSTON HOUSING AUTHORITY SECTION 8 HOMEOWNERSHIP PROGRAM ADMINISTRATIVE PLAN
HOUSTON HOUSING AUTHORITY SECTION 8 HOMEOWNERSHIP PROGRAM ADMINISTRATIVE PLAN HOUSTON HOUSING AUTHORITY HOUSING CHOICE VOUCHER HOMEOWNERSHIP PROGRAM PROGRAM GUIDE TABLES OF CONTENTS Program Description
More informationMembers of the Joint Legislative Commission on Governmental Operations
January 27, 2015 Members of the Joint Legislative Commission on Governmental Operations Ladies and Gentlemen: This report is being filed on the production activities of the North Carolina Housing Finance
More informationPROGRAM DESCRIPTION FY 2007 ANNUAL PROGRAM PERFORMANCE MEASURES. APPROPRIATION UNIT: Michigan State Housing Development Authority Date:02/12/08
PROGRAM DESCRIPTION FY 2007 ANNUAL PROGRAM PERFORMANCE MEASURES DEPARTMENT: Michigan Department of Labor & Economic Growth APPROPRIATION UNIT: Michigan State Housing Development Authority Date:02/12/08
More informationMetro 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
More informationREALTORS AND FHA WORKING TOGETHER TO HELP PEOPLE FULFILL THE AMERICAN DREAM
Shopping for a Mortgage? FHA Improvements Benefit You FHA Insured Mortgages Realtors and FHA: Partners in Homeownership National Association of REALTORS FHA REALTORS AND FHA WORKING TOGETHER TO HELP PEOPLE
More informationHandling Default and Foreclosure
Handling Default and Foreclosure Delinquency Vs. Default Delinquency = less than 3 payments behind. A collections account. Only late fees accrue Default= more than 3 payments behind. Mortgage automatically
More informationREQUEST FOR QUALIFICATIONS ST. LOUIS COUNTY OFFICE OF COMMUNITY DEVELOPMENT HOMEBUYER ASSISTANCE & COMMUNITY BUILDER INCENTIVE 2016
REQUEST FOR QUALIFICATIONS ST. LOUIS COUNTY OFFICE OF COMMUNITY DEVELOPMENT HOMEBUYER ASSISTANCE & COMMUNITY BUILDER INCENTIVE 2016 PURPOSE To solicit proposals from organizations interested in providing
More informationMSHDA s Homeownership Counseling Program. Sharon Evans Homeownership Division May 24, 2011
MSHDA s Homeownership Counseling Program Sharon Evans Homeownership Division May 24, 2011 The Homeownership Counseling Program supports the Michigan State Housing Development Authority s (MSHDA) mortgage
More informationAttachment B. FCRHA Housing Choice Voucher Section 8 Homeownership Capacity Statement
Attachment B FCRHA Housing Choice Voucher Section 8 Homeownership Capacity Statement The Fairfax County Redevelopment and Housing Authority (FCRHA) has the capacity to administer a Section 8 (Housing Choice
More informationwww.fha.gov FHA s Role and Strategy to Help Vulnerable Homebuyers and Homeowners
FHA s Role and Strategy to Help Vulnerable Homebuyers and Homeowners FHA Helping Vulnerable Homeowners & Homebuyers Refinance Options for Non-FHA Foreclosure Prevention for FHA Support for Housing Counseling
More informationCONTRACT FOR DEED. What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome
CONTRACT FOR DEED What Homebuyers and Sellers Need to Know to Achieve a Successful Outcome Copyright 2012 CONTRACT FOR DEED Is it the right option for me? This publication is intended to provide advice
More informationProtecting Your Investment
Protecting Your Investment Understanding Home Financing and Avoiding Foreclosure Massachusetts Attorney General Consumer Hotline One Ashburton Place Boston, MA 02108-1518 (617) 727-8400 or (617) 727-4765
More informationProject Summary. St. Louis Alliance for Home Ownership Preservation
Project Summary St. Louis Alliance for Home Ownership Preservation In early 2008, Mayor Slay became concerned about the growing number of foreclosures foreclosures can hurt not only individual homeowners
More informationHouse Financial Services Committee. Subcommittee on Insurance, Housing and Community Opportunity. Hearing
House Financial Services Committee Subcommittee on Insurance, Housing and Community Opportunity Hearing HUD and NeighborWorks Housing Counseling Oversight The Honorable Debra Olson Board Member DuPage
More informationThe Section 8 Homeownership Program. Section 8 Families: Are You Ready for Homeownership? Introducing the Section 8 Homeownership Program
The Section 8 Homeownership Program Section 8 Families: Are You Ready for Homeownership? Introducing the Section 8 Homeownership Program Section 8 Homeownership Questionnaire Name Now You May Use Your
More informationWelcome. 1. Agenda. 2. Ground Rules. 3. Introductions. Your Own Home 2
Your Own Home Welcome 1. Agenda 2. Ground Rules 3. Introductions Your Own Home 2 Objectives If you are a pre-homebuyer: Explain the advantages and disadvantages of renting versus owning a home Identify
More informationSTEPS AFFORDABLE HOME LOAN TO GETTING AN. www.idahohousing.com
5 STEPS TO GETTING AN AFFORDABLE HOME LOAN www.idahohousing.com 1 Check your eligibility for a home loan at www.idahohousing.com. Visit www.idahohousing.com or call 866.432.4066 to check your eligibility
More informationHOUSING CHOICE VOUCHER HOMEOWNERSHIP OPTION PROGRAM
HOUSING CHOICE VOUCHER HOMEOWNERSHIP OPTION PROGRAM FREQUENTLY ASKED QUESTIONS What is the Section 8 Homeownership Option Program? This program is designed to assist families in reaching the dream of homeownership,
More informationThe Guide to Single Family Home Mortgage Insurance
U.S. Department of Housing and Urban Development Office of Housing Office of Single Family Housing The Guide to Single Family Home Mortgage Insurance www.hud.gov espanol.hud.gov Becoming a Homeowner Many
More informationHAF Counseling Manual
Kentucky Housing Corporation HAF Counseling Manual Table of Contents Definitions/Acronyms... 3 Counseling/Education Topics under HAF... 4 Individual Counseling... 4 Group Education... 4 Compensation Rates...
More informationTo be considered for this assignment, candidates must meet the following criteria:
July 5, 2011 Dear Interested Party: Re: REQUEST FOR QUALIFICATIONS (RFQ) HOUSING COUNSELING SERVICES The Connecticut Housing Finance Authority ( CHFA ) requests written qualifications for housing counseling
More informationHomeownership Division
Michigan Credit Union League & Affiliates Annual Convention and Exposition Helping Credit Unions Serve, Grow and Remain Strong #mculace MSHDA s Homeownership Programs Delivering the Dream to Michigan Families
More informationHARRIS COUNTY, TEXAS NEIGHBORHOOD STABILIZATION PROGRAM
HARRIS COUNTY, TEXAS NEIGHBORHOOD STABILIZATION PROGRAM SUBSTANTIAL AMENDMENT TO THE 2008-2012 CONSOLIDATED PLAN FY 2008 ANNUAL ACTION PLAN AMENDMENT APPLICATION Prepared by the Community Services Department
More informationBrooklyn Park Economic Development Authority
Brooklyn Park Economic Development Authority Neighborhood Stabilization Program NSP HOMEBUYER ASSISTANCE PROGRAM FOR CITY/PARTNER ACQUISITION AND REHAB Program Description & Guidelines July 2011 TABLE
More informationIV. HOME NARRATIVES (AP-90)
IV. HOME NARRATIVES (AP-90) A. INTRODUCTION Los Angeles County is an Urban County-participating jurisdiction for HUD s HOME Investment Partnerships (HOME) Program. It receives an annual formula allocation
More informationHousing Assistance Opportunities for Duluth Residents October 15, 2010
Housing Assistance Opportunities for Duluth Residents October 15, 2010 City of Duluth Building Safety City of Duluth Community Development City Hall Room 210, Duluth, MN 55802 City Hall Room 407, Duluth,
More informationFirst-time Homebuyer Pathfinder Penny Bates
Penny Bates First-time homebuyers, and homebuyers in general, sometimes can be confused by the mortgage and home buying process. The recent mortgage crisis underlined the need for additional consumer financial
More informationQuestions and Answers for Borrowers about the. Homeowner Affordability and Stability Plan
Questions and Answers for Borrowers about the Homeowner Affordability and Stability Plan Borrowers Who Are Current on Their Mortgage Are Asking: 1. What help is available for borrowers who stay current
More informationExecutive Summary Community Profiles
Executive Summary Community Profiles The Community Profiles focus on four study areas in Waco and compare the demographics in those study areas to the overall city. The study areas are North Waco area,
More informationH.E.L.P. COMMUNITY DEVELOPMENT CORP. Foreclosure Counseling Program DOCUMENT CHECKLIST
H.E.L.P. COMMUNITY DEVELOPMENT CORP. Foreclosure Counseling Program DOCUMENT CHECKLIST PLEASE COMPLETE ITEMS 1 AND 2 BELOW AND FAX OR MAIL BACK TO OUR OFFICE. Complete the INTAKE FORMS as thoroughly as
More informationSolita s House, Inc. and it s employees are NOT attorneys. The information provided in this document is to be used as a resource and is based solely
Solita s House, Inc. and it s employees are NOT attorneys. The information provided in this document is to be used as a resource and is I give Solita s House, Inc. permission to use my name and photograph,
More informationHomebuyer Program Orientation
Homebuyer Program Orientation 1405 E. McDowell Rd, Suite 100 Phoenix, Arizona 85006 Telephone: (602) 258-1659 1 Website: www.nhsphoenix.org History of NHS Phoenix NHS Phoenix was founded in 1975 and is
More informationPIMA COUNTY COMMUNITY LAND TRUST HOME BUYER SELECTION POLICIES & PROCEDURES
PIMA COUNTY COMMUNITY LAND TRUST HOME BUYER SELECTION POLICIES & PROCEDURES I. OVERVIEW This policy paper is intended to guide the development and implementation of both general and projectspecific homebuyer
More informationCommon Mortgage and Foreclosure Terms
H ELP FOR N EW Y ORK S TATE H OMEOWNERS C ONCERNED A BOUT F ORECLOSURE Common Mortgage and Foreclosure Terms Talking about mortgages can feel like speaking a foreign language and is even more confusing
More informationAFFORDABLE HOUSING POLICY Recommended July 23, 2013
AFFORDABLE HOUSING POLICY Recommended July 23, 2013 It shall be the policy of Albemarle County to promote a variety of housing choices for residents. Choice shall be defined by type, tenure, and price
More informationProgram Guide. Michigan State Housing Development Authority
Program Guide Michigan State Housing Development Authority MSHDA Programs The Michigan State Housing Development Authority (MSHDA) is dedicated to building a thriving and vibrant future for Michigan.
More informationHomeownership Preservation Policy for Residential Mortgage Assets. Section 110 of the Emergency Economic Stabilization Act (EESA)
Homeownership Preservation Policy for Residential Mortgage Assets Section 110 of the Emergency Economic Stabilization Act (EESA) requires that each Federal property manager that holds, owns, or controls
More informationOverview. Our Programs» Strengthening Norfolk s Neighborhoods. One person, one home, one dream at a time.
Overview HomeNet, a component of the Norfolk Redevelopment and Housing Authority (NRHA) is a full-service homeownership center who partners with local lending institutions, attorneys, housing developers,
More informationHome Buying Best Practices
LOAN AND HOME BUYING BEST PRACTICES About TSAHC The Texas State Affordable Housing Corporation (TSAHC) is a nonprofit housing corporation created at the direction of the Texas Legislature to facilitate
More informationBuilding Capacity: How to Run an Efficient, Sustainable Program
Building Capacity: How to Run an Efficient, Sustainable Program Program capacity building tools and information for HUD approved housing counseling agencies. Topics Covered Today: HUD/OHC s Guidance on
More informationMORTGAGE TERMS. Assignment of Mortgage A document used to transfer ownership of a mortgage from one party to another.
MORTGAGE TERMS Acceleration Clause This is a clause used in a mortgage that can be enforced to make the entire amount of the loan and any interest due immediately. This is usually stipulated if you default
More informationWhat to bring to your first appointment:
Tampa Bay Community Development Corporation Housing Counseling Services 2139 N.E. Coachman Road, Suite 1, Clearwater, FL 33765 Phone: (727) 442-7075 (866) 608-3220 (813) 849-1121 Fax: (727) 446-8727 www.tampabaycdc.org
More informationHow To Help A Homeowner Who Is At Risk Of Foreclosure
1 PRINCIPAL REDUCTION AND FORECLOSURE PREVENTION Preliminary Report, Findings and Recommendations from the IDT Seattle City Council March 26, 2014 IDT Scope of Work 2 Resolution 31495 directed IDT to explore
More informationForeclosure & Credit Recovery
Foreclosure & Credit Recovery Presented by Joy Thormodsgard, CEO Who We Are NOT & Who We Are Have You Heard or Seen Ads for Foreclosure, Debt Settlement, or Credit Recovery? Deep pockets for radio, television,
More informationHOUSING. Community Housing Development Organizations (CHDOs) Apartment Living
HOUSING City Home Repair Programs Emergency Repair and Weatherization Programs Cowtown Brush Up Lead Hazard Control Program Model Blocks Home Improvement Loans Housing Trust Fund (HTF) Community Housing
More informationMACOMB COUNTY NEIGHBORHOOD STABILIZATION PROGRAM HOMEBUYER ASSISTANCE FOR VACANT FORECLOSED PROPERTIES
MACOMB COUNTY HOMEBUYER ASSISTANCE OVERVIEW and GUIDELINES OVERVIEW Macomb County s Homebuyer Program for Vacant Foreclosed Properties is part of the Neighborhood Stabilization Program (NSP) created by
More informationTo: The Office of the Assistant Secretary for Housing Federal Housing Commissioner, HUD.
DEPARTMENT OF HOUSING AND URBAN DEVELOPMENT 24 CFR Part 214 [Docket No. FR 5339 P 01] RIN 2502 AI94 Housing Counseling Program: New Certification Requirements To: The Office of the Assistant Secretary
More informationForeclosure Process Timeline
Foreclosure A legal process spanning 150-415+ days, by which a creditor (bank, mortgage company, etc..) takes ownership of a property to satisfy a debt (mortgage, second mortgage or home equity loan).
More informationDETAILS REGARDING USE OF MORTGAGE FUNDS
DETAILS REGARDING USE OF MORTGAGE FUNDS Attorney General Tom Horne has announced a comprehensive multi-year program for the allocation of the $57 million in mortgage settlement funds aimed at keeping people
More informationOrlando Housing Authority
Orlando Housing Authority Orlando Housing Authority Primary Business Address Your Address Line 2 Your Address Line 3 Your Address Line 4 Phone: 555-555-5555 Fax: 555-555-5555 E-mail: someone@example.com
More informationAdministrative Life Cycle. Administration of Inclusionary Homeownership Programs. Predevelopment. Development. Marketing.
Administration of Inclusionary Homeownership Programs Rick Jacobus * Rick@Rjacobus.com Administrative Life Cycle Predevelopment Development Marketing Buyer Selection Closing Monitoring Support (Refinancing)
More informationReNew Grant Guidelines
Brooklyn Center ReNew Buyer Incentive Program Greater Metropolitan Housing Corporation Program Summary The Economic Development Authority (EDA) of Brooklyn Center, Minnesota (EDA) has partnered with the
More informationNational Industry Standards for Homeownership Education and Counseling
National Industry Standards for Homeownership Education and Counseling Guidelines and Code of Ethics Reference Guide www.homeownershipstandards.org Table of Contents Introduction: Homeownership Done Right...
More informationREALTORS Guide to FORECLOSURE RESOURCES
REALTORS Guide to FORECLOSURE RESOURCES Federal & State Programs That May Help Those Facing Foreclosure Making Home Affordable Program Designed to assist families who may face foreclosure, the federal
More information- 1 - Neighborhood Stabilization Program Information Summary Sheet
- 1 - Neighborhood Stabilization Program Information Summary Sheet Eligible Uses: Purchase and rehab abandoned or foreclosed homes and residential properties. Establishing financing mechanisms for purchase
More informationRevised September 2014
Revised September 2014 WELCOME TO HOMEOWNERSHIP Post Homeownership Guide A guide for the new home owner W A S H I N G T O N S T A T E H O U S I N G F I N A N C E C O M M I S S I O N S Home Advantage &
More informationNeighborhood Housing Services of Green Bay, Inc. d/b/a NeighborWorks Green Bay Program Intake Form
Neighborhood Housing Services of Green Bay, Inc. d/b/a NeighborWorks Green Bay Program Intake Form Return Completed Form to: NeighborWorks Green Bay Today s : 437 S. Jackson St. www.nwgreenbay.org Green
More informationCONSUMER. Steps that Advocates Can Take to Help Older Homeowners Prevent Foreclosure
CONSUMER Information for Advocates Representing Older Adults N a t i o n a l C o n s u m e r L a w C e n t e r CONCERNS Steps that Advocates Can Take to Help Older Homeowners Prevent Foreclosure Foreclosure
More informationCity of Champaign Neighborhood Services Department Neighborhood Programs Division 102 N. Neil St. Champaign, Illinois 61820 (217) 403-7070
City of Champaign Neighborhood Services Department Neighborhood Programs Division 102 N. Neil St. Champaign, Illinois 61820 (217) 403-7070 Acquisition-Rehabilitation Program SCOPE INCOME LIMIT The program
More informationFirst Time Home Buyer Glossary
First Time Home Buyer Glossary For first time home buyers, knowing and understanding the following terms are very important when purchasing your first home. By understanding these terms, you will make
More informationDown Payment & Closing Cost Assistance Programs & Primary Mortgage Lender Guidelines
437 S. Jackson St. Green Bay, WI 54301 920-448-3075 www.nwgreenbay.org Down Payment & Closing Cost Assistance Programs & Primary Mortgage Lender Guidelines Housing Counselors: Jeff Van Rens Belinda Pynenberg
More informationMORTGAGE RESCUE: HomeOwnership Center Assistance. A Program of St. Mary Development Corporation
MORTGAGE RESCUE: HomeOwnership Center Assistance A Program of St. Mary Development Corporation St. Mary Development Corporation Non-profit organization Community development and neighborhood revitalization
More informationDefinitions. In some cases a survey rather than an ILC is required.
Definitions 1. What is the closing? The closing is a formal meeting at which both the buyer and seller meet to sign all the final documentation required for the buyer's mortgage loan. Once the closing
More informationILLINOIS ASSOCIATION OF REALTORS HOUSING POLICY
ILLINOIS ASSOCIATION OF REALTORS HOUSING POLICY ILLINOIS ASSOCIATION OF REALTORS HOUSING POLICY As an Association, we reaffirm our commitment to the goal of decent housing and a suitable living environment
More information(date) New Form HUD-9902 Audio only available via conference call. To join: Call: (866) 615-1888 Participant Access Code: 335203 September 16, 2014
(date) New Form HUD-9902 Audio only available via conference call. To join: Call: (866) 615-1888 Participant Access Code: 335203 September 16, 2014 Webinar Logistics: Audio is being recorded. It will be
More informationCity of Gainesville Community Development Department Housing Division
City of Gainesville Community Development Department Housing Division DOWNPAYMENT ASSISTANCE PROCEDURES Application Process Applications are mailed to prospective homebuyers in response to telephone requests
More informationMortgage Intervention Checklist
105 14 th Avenue, Seattle, Washington 206.461.3792 Fax 206.461. 8425 Mortgage Intervention Checklist The following information is needed in order for the Urban League to effectively review your situation
More informationCITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES
CITY OF MURFREESBORO AFFORDABLE HOUSING ASSISTANCE PROGRAM POLICIES AND PROCEDURES 100. Purpose The Murfreesboro Affordable Housing Assistance Program (the Program) encourages homeownership for low-income,
More informationHome Buyer s Workshop. www.naca.com service@naca.com Member Services 425-602-6222 Predatory Lenders Beware!
Home Buyer s Workshop www.naca.com service@naca.com Member Services 425-602-6222 Predatory Lenders Beware! This is important information on the NACA Purchase Program. You still need to attend a Home Buyer
More information58% 61% 17% 24% 12% 20% PROFILE. ASSetS & opportunity ProfILe: NewArk. key HIgHLIgHtS ABOUT THE PROFILE ASSETS & OPPORTUNITY
ASSetS & opportunity ProfILe: NewArk ASSETS & OPPORTUNITY PROFILE key HIgHLIgHtS 58% of Newark residents live in asset poverty Cities have long been thought of as places of opportunity for low-income workers
More informationResident & Community Services Programs
Resident & Community Services Programs 1 RCS Mission RCS programming is designed to improve the quality of life for residents of the Denver Housing Authority and neighboring communities by offering empowerment
More informationWEBINAR: Mission-Directed Real Estate Brokerage as a Tool for Buyer and Neighborhood Stability
WEBINAR: Mission-Directed Real Estate Brokerage as a Tool for Buyer and Neighborhood Stability Sponsored by NeighborWorks America s Community Stabilization Team 2 Our Speakers Moderator: Marcia Nedland
More informationLake County Homebuyer Programs Lender Guidelines as of 1/22/2014
Lake County Homebuyer Programs Lender Guidelines as of 1/22/2014 ABOUT THE AFFORDABLE HOUSING CORPORATION OF LAKE COUNTY AHC is a nonprofit agency that increases and preserves affordable housing opportunities
More informationThe Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners
The Obama Administration s Efforts To Stabilize The Housing Market and Help American Homeowners August 2013 U.S. Department of Housing and Urban Development Office of Policy Development Research U.S Department
More informationAPPENDIX D: HOUSING PROGRAM DIRECTORY
APPENDIX D: HOUSING PROGRAM DIRECTORY Table D-1 Housing Rehabilitation Programs 1. HOME MAINTENANCE AND IMPROVEMENT PROGRAM (HMIP) To provide loans to correct health and safety violations, abate code deficiencies
More information910 17 th Street, NW 5 th Floor Washington, DC 20006. Tel: 202.349.1860 / Fax: 202.289.9009 www.self-help.org
Dangerous lending practices and loose underwriting in the subprime mortgage market have left more than 2.2 million families in danger of losing their homes to foreclosure over the next few years. Self-
More informationFaculty and Staff Home Buyer s Guide
Faculty and Staff Home Buyer s Guide Table of contents Welcome Welcome Should I buy or rent? Renting vs. Buying Comparison Pre-approval Process Mortgage Programs 3 4 5 6 7 The University Housing & Relocation
More informationCountrywide Settlement FAQ s
Countrywide Settlement FAQ s 1. Does the settlement impact my Countrywide loan? The Attorney General s settlement with Countrywide provides for loan modifications for eligible borrowers who are 60 days
More informationEmployee Participation Kit For Temple University
Employee Participation Kit For Temple University TABLE OF CONTENTS o How to access the Philadelphia Home Buy Now grant step-by-step instructions o Philadelphia Home Buy Now grant application o Privacy
More informationForsyth County Housing & Community Development Homeownership Program (FCHP) AHOP / HOME PROGRAM
Forsyth County Housing & Community Development Homeownership Program (FCHP) AHOP / HOME PROGRAM I. Program Purpose: The Forsyth County Homeownership Program (FCHP) provides funds to assist with the down
More informationDetroit Land Bank Authority Request for Qualifications:
Detroit Land Bank Authority Request for Qualifications: Organizations to serve as Homeownership Educators and Third Party Advisors during the Purchase and Rehab of Homes from the Detroit Land Bank Authority
More informationDelaware State Housing Authority. DSHA Homeownership Loan Programs
Delaware State Housing Authority DSHA Homeownership Loan Programs DSHA is committed to following all aspects of the Fair Housing Act in our efforts to promote responsible homeownership and obtaining competitive
More informationFunding Programs: HUD Performance Funding System (operating subsidy for PHA) Private foundation operating grants
Funding Programs by Funding Tools Federal Funding Programs 1. Owner or participant investment - An investment of funds from agency operation or fees paid by a participant to offset the cost of providing
More informationBORROWER Q&AS. 2. I'm current on my mortgage. Will the Home Affordable Refinance help me?
MAKING HOME AFFORDABLE BORROWER Q&AS 1. What is Making Home Affordable" all about? Making Home Affordable is part of President Obama's comprehensive strategy to get the housing market back on track. Through
More informationACEEE Greening the Mortgage Process. Michelle Winters March 2012
ACEEE Greening the Mortgage Process Michelle Winters March 2012 NeighborWorks America Working Together for Strong Communities Support Homeownership Homeownership and foreclosure counseling Provide Affordable
More informationAVOIDING FORECLOSURE
AVOIDING FORECLOSURE Consolidated Credit 5701 West Sunrise Boulevard Fort Lauderdale, FL 33313 1-800-210-3481 www.consolidatedcredit.org Congratulations on taking this important step to a brighter financial
More informationMilwaukee s Housing Crisis: Housing Affordability and Mortgage Lending Practices
Milwaukee s Housing Crisis: Housing Affordability and Mortgage Lending Practices by John Pawasarat and Lois M. Quinn, Employment and Training Institute, University of Wisconsin-Milwaukee, 2007 This report
More informationPurpose of this Guide
Housing and Mortgages - Affordable Housing Housing and Mortgages on Affordable Housing. Retrieved May 31, 2012, from http://www.mortgageloan.com/affordable/ Guide overview: Part 1: Advantages of Mortgages
More informationTEXAS STATE AFFORDABLE HOUSING CORPORATION 2014 ANNUAL ACTION PLAN
TEXAS STATE AFFORDABLE HOUSING CORPORATION 2014 ANNUAL ACTION PLAN TEXAS STATE AFFORDABLE HOUSING CORPORATION 2014 ANNUAL ACTION PLAN INTRODUCTION This plan is prepared in accordance with Texas Government
More informationSummary of the Housing and Economic Recovery Act of 2008
Summary of the Housing and Economic Recovery Act of 2008 On July 30, President Bush signed major housing legislation, HR 3221, the Housing and Economic Recovery Act of 2008. The bill restructures regulation
More informationBECOME A BMR HOMEOWNER!
BECOME A BMR HOMEOWNER! History of the City of Morgan Hill BMR Program The City of Morgan Hill contracted its Below Market Rate (BMR) Program to NHSSV in May 2012 in response to the State s elimination
More informationNeighborhood Housing Services of Greater Cleveland, Inc. Media Kit
Neighborhood Housing Services of Greater Cleveland, Inc. Media Kit Creating Homeownership - Building Communities. Neighborhood Housing Services of Greater Cleveland has been delivering exemplary programs
More information2015 Scorecard 2015 SCORECARD FOR FANNIE MAE, FRED DIE MAC AND COMMON SECURITIZATIO N SOLUTIONS. January 2015. Division of Conservatorship
2015 SCORECARD FOR FANNIE MAE, FRED DIE MAC AND COMMON SECURITIZATIO N SOLUTIONS January 2015 Division of Conservatorship 1 2015 Scorecard for Fannie Mae, Freddie Mac and Common Securitization Solutions
More informationBecoming an IFPN Network Agency. What is an Indiana Housing Counselor?
Indiana s Guide to Housing Counselor Certification 2010-2011 Acknowledgement This certification manual was made possible by a grant from the Indiana Housing and Community Development Authority (IHCDA).
More information