CHI has established a comprehensive program to educate and assist first time homebuyers through education, credit repair, financial assistance and increasing the affordable housing stock. The primary goal is to create homeowners by providing homeownership opportunities. CHI uses independent contractors, YouthBuild participants and CHI staff to produce housing and facilitate develpment operations. In-house agency, CCDC Realty, sells the homes.
Pre Purchase
Services
Analysis of credit report, budgeting and financial literacy training.
Post Purchase Services
CHI provides a comprehensive post purchase service that falls under the
HUD guidelines and assists the homeowner in understanding homeownership
responsibilities, home maintenance, early default, foreclosure intervention
counseling and loss mitigation.
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Homebuyer
Education Seminars
CHI offers free Homebuyer Education seminars for first time home-buyers
to receive an overview of the home buying process from loan origination
to closing.
- Predatory Lending
- Credit & Credit Scoring
- Budgeting & Saving
- The Mortgage Process
- Inspection & Appraisal Process
- Homeowners Insurance
- The Closing Process
- Avoiding Foreclosure.
CHI partners with financial institutions, mortgage insurance companies, realtors and a host of community development organizations to help demystify the home buying process.
Programs operated under the Homeownership Assistance Division at Cobb Housing, Inc. (CHI) are designed to produce knowledgeable, qualified homebuyers and successful homeowners. Individuals and families will be better positioned to acquire a mortgage and assume the responsibilities of homeownership.
Through their educational programs, prospective homeowners receive critical training to enable them to make a more informed housing decision and to improve their social, economic and housing status.
CHI's program can take a client with bad credit to pre-qualified status for financing as well as provide down payment assistance.
“Although a mortgage application is the document that starts the home-buying process, it was identified by many Americans as the most difficult document to understand…Lack of information and misconceptions involving credit and mortgage qualifications are a significant part of the overall homeownership information gap.
FYI: An Update in Emerging Issues in Banking
Federal Deposit Insurance Corporation (FDIC)
CHI offers 16 six (6) hour free Homebuyer Education seminars for first time homebuyers to receive an overview of the home buying process from loan origination to closing. Topics include predatory lending, credit and credit scoring, budgeting and saving, the mortgage process, choosing the right real estate professional, inspection and appraisal process, homeowners insurance, the closing process and avoiding foreclosure. CHI partners with financial institutions, mortgage insurance companies, realtors and a host of community development organizations to help demystify the home buying process. Their goal is to produce knowledgeable, qualified and successful homeowners.
Classes are held twice a month on Saturdays from 9:00 a.m. to 3:00 p.m. at Cobb Housing, Inc., 268 Lawrence Street, Suite 100. Bilingual classes for Spanish speaking people are held on the 4th Saturday of the month from 9:00 a.m.-1:00 p.m. See Calendar or Contact us for more details.
Credit Repair
& Counseling
Upon completion of the Homebuyer Education Seminar, participants
are eligible for individualcounseling sessions with HUD Approved Housing
& Credit Counselors, including:
- In-Depth Credit Analysis
- Budget Counseling
- Debt Reduction Strategies
YouthBuild
HUD's YouthBuild Program offers job training and leadership skills to
young people, age 16-24 while putting them back on a path toward graduation.
Program participants receive on-the-job training in the building trades
and help build and renovate homes that are sold at affordable prices to
low and very low income persons as well as to homeless individuals and
families.
NeighborWorks
The NeighborWorks Campaign for Home Ownership is
the largest national initiative of its kind: a joint effort by private
industry and government working with community-based NeighborWorks organizations
to bring more families into home ownership. NeighborWorks organizations
participating in the campaign use the NeighborWorks Full-Cycle LendingSM
system. Under this system, pre-purchase education, innovative loan products
and early-intervention delinquency counseling are combined into a system
that helps create successful homebuyers who take charge of their neighborhoods
as well as their homes.
Lending
Products
Downpayment assistance and second mortgages to increase purchasing power
for first time homebuyer.
Foreclosure Prevention Counseling
CHI provides “no-cost” HUD-approved Default/Foreclosure Prevention Counseling to borrowers in danger of losing their homes. During a confidential session, a trained Counselor can speak with your mortgage company to negotiate a workout or payment arrangement provided you have adequate income to do so. If you wish to sell your home, CHI has an experienced Realtor on-site to assist you. To make an appointment, please contact the Homeowner Assistance Division at (770) 429-4400, ext. 222 or 225.
