United Neighbors Dream Program
More than 100 people become homeowners each year through the United Neighbors Dream Program in Davenport, IA and only a small fraction of those homeowners run into trouble with their mortgages later. New homeowners find that the Davenport agency is there to help every step along the way, even after their loan has closed.
New homeowner Deb Snyder did everything right: She attended United Neighbors home buyer education classes before she pre-qualified for a home loan; she worked two jobs to save for a down payment; and, she had a home inspection. Deb bought an older home that needed repairs and United Neighbors sent in a crew to address the problems including lead paint hazards.
Two years after purchasing the home, Deb started missing payments due to a decrease in income. She suddenly found that her dream of homeownership was in jeopardy. Deb contacted United Neighbors and was referred to one of its HUD certified housing counselors. Deb recalled her appointment with two staff counselors, "I had a letter from the mortgage company telling me my house could be foreclosed, and I was very upset. They sat me down and explained that it doesn't have to end up this way - foreclosure. They were wonderful." The two counselors worked with Deb and her lender and eventually she was able to catch up and bring her mortgage payments current. Mick Pracht, United Neighbors Housing Counselor said: "I see many people who are just overwhelmed. There are steps we can take, and quite often, not always, but quite often, we can help them keep their home."
In light of all the recent foreclosure issues with new homeowners, Paul Fessler, Assistant United Neighbors Executive Director says: "We see homeowners with refinancing issues and warm them to 'beware'! We tell them do not be afraid to come see us for help. Most every homeowner at sometime during homeownership runs into financial trouble".
|Content Archived: August 19, 2011|