Wednesday, April 17, 2013
The Polk County Housing Trust Fund along with several supporters is promoting the "Can I Be Your Neighbor" campaign for Affordable Housing Week. This campaign brings awareness to the community about the types of individuals who may benefit from affordable housing programs, and who may work along side or help many of us each and every day.
Click HERE for the link to the Polk County Housing Trust Fund's website and campaign information.
Click HERE to read a story about a family that HOME, Inc. has helped purchase a home through our Housing Counseling and Supportive Services Program.
Please spread the word about this campaign!
Tuesday, February 26, 2013
The Department of Housing and Urban Development (HUD) has a new mobile application ("app") that allows smartphone & tablet users to locate housing counselors in their area. Housing counselors assist people in a variety of ways such as foreclosure assistance, pre-purchase home buying assistance, post-purchase assistance, rental housing counseling, etc. Click HERE to download the new app from the Itunes store.
For more information check out www.hud.gov. Also, to see what programs HOME, Inc. offers visit our website at www.homeincdsm.org.
Thursday, January 31, 2013
Over the past two years, the City of Des Moines and the Polk County Housing Trust Fund with its non-profit housing partners have diligently worked to improve the area of 23rd Street and Forest Avenue.
Greater Des Moines Habitat for Humanity built three homes on 23rd Street and Anawim Housing built eight town homes on Forest Avenue. In between the two projects was a foreclosed property that had been cut up into four small apartments. The Drake Neighborhood Association and the City were concerned that the property would sit vacant or purchased by an absentee owner. HOME, Inc. responded to the need by purchasing the property.
When Dan Caffrey, HOME, Inc.’s Property Manager, inspected the property he just shook his head. The idea of downsizing the property was rejected due to structural and system issues. HOME, Inc. decided to remove the property and build a new home. New construction would not only require less “gap funding” but would also be easier and less costly to maintain for future owners. HOME, Inc. adapted one of its existing designs so the house so it was compatible with the older homes in Drake.
The home was purchased this month by a large family. The family was very excited to trade their three bedroom apartment for their new 4 bedroom, two full-bath 1,500 square foot home with a full basement, yard and garage.
The family completed a home ownership assessment and developed a plan to buy the house. Over a six month time period the family worked with HOME, Inc.'s Homeownership Coordinator and accomplished the following:
- Developed a budget that included increasing savings to meet the maximum IDA match and eliminating outstanding collections.
- Reduced their debt obligations.
- Worked with their current landlord to find a new tenant rather than pay the $1800 charge for breaking their lease. They also got their deposit of $600 refunded.
- Secured a $25,000 grant to reduce the sales price from $130,000 to a more affordable $105,000.
- Applied for and secured a conventional mortgage loan. Their mortgage payment is $610 per month versus rent of $785.
A big "thanks" goes to our funders (City of Des Moines, Community Development and the Polk County Housing Trust Fund) to make this project a success!
Please go to our Facebook page for before/after photos of this project. http://www.facebook.com/homeincdsm
Annually HOME, Inc. develops 10 units of affordable housing for low income home ownership. Through the Community Housing Services Program HOME, Inc. provide home ownership counseling and case management services to families that purchase our homes through turn key sales or lease/purchase. In addition HOME, Inc. assists 75 families in assessing their home ownership readiness and creating a plan to purchase their own homes.