From Tenant to First-time Homeowner: Evelyn’s story

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At the beginning of 2020, Evelyn P. was referred to Family Housing Resources (FHR) by her lender. She started her homeownership journey by participating in FHR’s Homebuyer Education course, which she said helped her learn about budgeting and the need for good credit. The Homebuyer Education course also helped her understand how best to work with a mortgage lender.

FHR's down payment assistance program

Being a single mom and a first-time homebuyer, Evelyn was very skeptical that she would be capable of purchasing a home, and when the COVID-19 pandemic hit in March 2020, she became concerned that she might lose her job. Fortunately for Evelyn, she did not lose her job, and by a twist of fate, the pandemic helped her save more money by not eating out or shopping as much! 

Cris, her FHR housing program counselor, introduced her [Evelyn] to FHR’s down payment assistance program, providing her the bridge she needed to make Evelyn’s dream of purchasing her first home a reality. We walked Evelyn through the program from start to finish, helping her complete her paperwork and submit them on time.

A new home for her and her son...

Working remotely definitely had its challenges, but after a long six months of trying to find an appropriate home in her price range and being outbid several times, her dream came true for her and her son!

In October 2020, she purchased a condo! She had to adjust her strategy from buying a stand-alone home to a condo, especially with the Tucson real estate market being so hot, but it was still an upgrade from her previous rental, and she loves owning her own home!  “I am not throwing money away anymore,” she says. With her rent continually increasing, owning her own home turned out to be cheaper!

She has now shared her positive experience at Family Housing Resources (FHR) with several friends and co-workers, encouraging them to try the program as well.

single mom with child smiling with keys to new house

"A new home is a place for memories to be made and dreams to come true." ~Anonymous

Supporting Housing Needs in 2020

We are so grateful to those corporate businesses that are stepping up during this unprecedented time and would like to recognize and show our utmost gratitude for Wells Fargo whose funding support has allowed us to pivot our work and focus on the most pressing needs of our community. Thank you, Wells Fargo, from our entire team and the larger community that we serve.

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Worried about your Mortgage?

Many homeowners are experiencing financial hardship during the COVID-19 pandemic or are worried that they will experience such hardship soon. Here is a comprehensive guide for all you need to know that was issued by the Housing Finance Policy Center of the Urban Institute.  The Guide to Mortgage Solutions During the COVID-19 Pandemic will help homeowners who are worried about making their mortgage payments understand what resources may be available and how to obtain it. 

The Urban Institute is the trusted source for unbiased, authoritative insights that inform consequential choices about the well-being of people and places in the United States. They are a nonprofit research organization that believes decisions shaped by facts, rather than ideology, have the power to improve public policy and practice, strengthen communities, and transform people’s lives for the better.

Guide to Mortgage Solutions During the COVID-19 Pandemic

Have you checked your Credit Report Lately?

It’s always important to keep an eye on your credit report to ensure there aren’t any errors or fraudulent activity. This is especially true during COVID-19 because of its impact on the economy and an increase in potential scams. As you know, your credit score is based on your credit report so you want to be sure to correct any errors as soon as possible.

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FHR Public Statement on Racism and Housing

At Family Housing Resources, our vision is a community with equal access to quality, affordable housing, and pathways to increased wealth and financial freedom. We dedicate our work to providing resources and improving access to what is a basic human right, housing.

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#GivingTuesdayNOW Video Update

Meghan Heddings, Executive Director

In honor of #GivingTuesdayNow Family Housing Resources (FHR) Executive Director Meghan Heddings shares a brief update on COVID-19 safety meassures, Down Payment Assistance (DPA) thank yous, and the outreach happening at our residential properties. We invite you to keep connected through our newsletter and would be so grateful if you are moved to make a donation to our work.
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Mortgage Relief for Homeowners

If you are experiencing a hardship such as job loss, income reduction, or sickness due to COVID-19 and you are no longer able to make your mortgage payment, your mortgage servicer is available to help with mortgage relief options, including:

  • Payment relief through a forbearance plan offers a reduction or suspension of your mortgage payments for up to 12 months, offered in increments of up to six months
  • Late fee relief during your forbearance plan period
  • Repayment options following your forbearance, including a repayment plan to catch up gradually or a permanent loan modification that aims to maintain or reduce your monthly payment

Additionally, foreclosure and eviction relief may be available through the federal CARES Act signed into law on Friday, March 27, 2020.

Contact Your Mortgage Servicer: If you’re concerned about your mortgage payments, take the first step and call your mortgage servicer—that’s the company listed on your monthly statement— to request help. Have your financial information handy when you call and note that many servicers are experiencing increased call volumes and hold times due to COVID-19.

Source: https://www.knowyouroptions.com/covid19assistance