Neighborhood Development Annual Report 2020-2021

1,537

Forgivable Loans Distributed Average Forgivable Loan 357 $9,900

Households received homebuyer education

a tip about asking the seller to provide a one-year warranty on all the home’s appliances. And that’s just what she did when she purchased her home in an upscale peaceful neighborhood with an amazing walking trail. Montgomery is busy renovating. Amina loves painting whatever she wants. “I knew I wanted a different way of life for her. She actually pushed me to become a homeowner,”Montgomery said. “I definitely wanted that for her security and stability, just as my mother did for me.”

Ready to buy a home? Take advantage of these free programs! To register, contact Housing Consultants Group at 336-850-4040.

Homebuyer Education Class Covering budget management, insurance, working with a Realtor, inspections, mortgage financing, maintenance, housing laws and more.

Down Payment Assistance Offering up to $10,000 for down payment and closing costs as a forgivable, zero percent interest loan. Learn more at www.greensboro-nc. gov/dpa .

Account program, which offered financial planning for home buying. HCG has a three-tiered approach to counseling clients on the path to homeownership. “We never tell a client ‘no,’ you won’t be able to buy a home. We say ‘not now’ and counsel the client using different levels of classes depending on their credit score to prepare them to be ready for homeownership success,” Crisp says. The results, she adds, are that clients take responsibility for their financial health and become fully prepared for homeownership well beyond the paper-signing and hand-off of house keys, while also learning this is the first step on a journey to financial capability. Crisp says this is key to increasing the rate of Black homeownership in the Triad. In 2020-21, HCG and partners helped 357 families receive down payment assistance of $5,000 to

$10,000 from the City of Greensboro. Since 2019, Crisp says 67 percent of HCG’s assistance has been provided to Black families. “HCG has partnered with the City to provide a path to home ownership for many families. The agency equips people with real-life skills and strategies in budgeting and repairing credit, and has a history of giving people confidence in managing their finances,” says Greensboro Mayor Nancy Vaughan. “Through our partnership, people can build financial stability and wealth, which in turn builds stronger neighborhoods.” The idea for forming HCG came to Crisp while she was working as a Realtor. “I knew I could help more people learn how to be a homeowner,” she says. “Homeownership is the right of every person desiring to be one; HCG just points people in the right direction by empowering them with knowledge.”

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