Neighborhood Development Annual Report 2020-2021

Homebuyer Support

A Home for Two To Alexis Montgomery, owning a home once seemed “unattainable.” Housing Consultants Group’s home ownership class taught her everything she needed to know – and qualified her for $10,000 in down payment assistance. “That class just really made me feel like I can do it,” said Montgomery, 33, a receptionist at the Greensboro Housing Coalition and mom to six- year-old Amina. “It just gave a real Realtors, insurance representatives and even a plumber – all people who could provide insight into the responsibilities involved in home ownership. She learned how to get all her paperwork in order to make the buying process run smoothly and that she needed to save up for costs at closing. She even picked up in depth understanding of what homeownership really meant.” In the class, she met lenders,

Homebuyer Education and Down Payment Assistance Increases Homeownership Among Minority Families The US Department of Housing and Urban

first-time homebuyers. Not only has the agency already been providing many of the services being proposed nationwide, it has become locally known for its success with a couple of HUD’s proposals. According to Sofia S. Crisp, executive director and founder of HCG, the agency is a leader in creating a climate for “financial stability and generational wealth.” Coupled with some creative campaigns to promote homeownership, HCG has made its mark in the housing industry throughout the Triad. Those campaigns include #100Homes that aimed to turn 100 renters into first-time homebuyers from January to December 2019. The project tripled its goal ahead of schedule, helping 317 families purchase homes. Another success story for HCG is the Individual Development

Development (HUD) proposes to increase Black homeownership over the next nine years by focusing on homeownership counseling and offering a down payment assistance program. The plan is pending federal government approval. To many residents in Greensboro, these types of programs are very familiar. The City’s Housing Connect GSO program is already working to increase home ownership by empowering residents to make informed choices. Housing Consultants Group (HCG), funded by Neighborhood Development under Housing Connect GSO , focuses on education, coaching and counseling families about housing issues, partnering with other entities in these areas, as well as providing down payment assistance for

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