NACA Buyer Workshop COMING April 27, 2013

If you are considering Buying a home – you will want to attend this FREE workshop that is presented by NACA.  NACA is a national non-profit organization that helps buyers to purchase their home without the FICO SCORE minimum requirement (let me re-phrase that, WHATEVER YOUR FICO SCORE they can do your loan.)  Yes, there are requirements, you have to have INCOME, have a 12 month payment history of ON TIME PAYMENTS, attend the workshop and meet with the NACA Representatives as needed.  Other than that – this is a NO DOWN PAYMENT, LOW CLOSING COST – Competitive Fixed Interest Rate Loan!!

NACA Workshop flyer 042713

 
 

When Your Credit Score Isn’t Enough

Here is a clip from my Real Estate Website…as it is just as important for those Employers / Employees to know about:

I have worked with buyers who have been diligent about doing their credit repair, paying their bills and ultimately doing “everything right” for them to still hear they don’t have a high enough credit score to buy yet. Well, I am YOUR advocate and I am personally bringing a non-profit group to OUR area so that you CAN get a loan. And what’s even better, the fixed rate is a low interest rate current about 3.75% and calculated for a 30 year period. There is NO Down Payment required (but if you want to put money down you can) and the closing cost is very low (Prepaids and insurance only.)  CLICK HERE TO CONTINUE READING MORE INFORMATION AND TO REGISTER FOR THIS EVENT.

 

 
 

What to do for Minimum Wage Employees?

I am working with an employer now who as a non-profit organization has this dilemma…They are looking for ways to be able to assist their employees – knowing that the rent rates are higher than what their incomes would allow for “affordable” rates.   As you know, we advocate that a 30% of income (or less) as an expense for housing is considered AFFORDABLE.  What that means is that someone making the minimum wage of $7.70, working just 40 hours per week should allocate $369 for their monthly housing costs.  Rent rates have NOT come down, if anything – they have continued to creep upwards.  So here are a couple of options…

  • As the employer, you can offer an offsetting “rental allowance” that allows for the landlord to collect a portion of the rent in advance for the lease of the employee from the employer directly.  The employee is still responsible for the lease terms and balance of rent each month, etc.
  • Employer provided housing – this can help when the area of the job is also in an area where multi-unit properties are available – working in conjunction to have a designated housing setup for employees to allow them time to build their own savings and be able to move out to the next level of housing opportunity.

As you can see, there are options available and the biggest thing is just having the flexibility to “think outside the box” and create a program that works for you as the employer, that fits the needs of your employees and in the end helps to benefit the community.

 
 

Update on Success Stories for EAH!

I attended the Chicago Forum and was pleased to see so many of my fellow trainers at the even.  Chicago has a very active Employer Assisted Housing program, and perhaps you think this is something that is better geared for a larger metropolitan area where house prices are well above our own communities?  The fact of the matter is that if it can work in an area such as Chicago – then it can  WONDERFULLY work here!

 

Read some of the highlights here…

  • NAR President Moe Veissi started the day’s events acknowledging that, while REALTORS® understand the value of the American Dream, they need to communicate it in different ways.   “There’s another part of this that we don’t pronounce as much as we should,” Veissi said. “You’ve got to tell them that there’s more than an economic benefit to owning a home… the people who live in that home are healthier.”
  • Illinois Housing Development Authority Executive Director Mary Kenney encouraged forum attendees to help shift the way the public discusses new housing solutions for the nation’s workers. “Together, we are changing the dialogue from affordable housing to maintaining a competitive workforce,” she said. “We need to work together to help educate our legislators about the needs of our communities.”
  • In presenting the latest findings from the Harvard Joint Center for Housing Studies where he is managing director, Eric Belsky noted that seeing numbers in a different way can help lawmakers understand the urgency of a situation. He said that when it comes to workplace housing problems, policymakers don’t get the full picture by looking at the conventionally-used median wage figures.  “Entry-level [workers] are the people who are trying to get a leg up in life,” Belsky said. “By any measure, though, this is not the kind of way that we want to run the country.”

READ FULL ARTICLE HERE

 

 
 

An Endorsement for EAH…

David Esrati, owner of The Next Wave and local talent for website / marketing offered his personal perspective on an Employer Assisted Housing program he has seen first hand in the working stages and progress to his own neighborhood…

“As someone who has seen the benefit of Employer Assisted Housing work as a tool for strengthening both the neighborhood and employee retention (most of the plans include some term of service) I encourage those of you who are running businesses that are in questionable neighborhoods, or in growth mode and looking for ways to make recruiting easier, to attend.”

(see full post here)

Of course he was referring to attending our Forum on July 16, 2012 – so now that the time has passed – we encourage you to have one of our Core Team Members meet with you to speak specifically about what we can do for your Employees!

 

 
 

EAH is NOT a New Thing – Many Cities WANT it!

Ya gotta love when you know that you are working on the “right thing” and then confirmation of the need for what you are doing is received!!

Currently, while Employer Assisted Housing in theory has been around for centuries, it is still considered a “new and innovative” process to encourage employers to help their employees with housing needs.  Interestingly enough, the City Plans have always addressed this as an issue of concern, as noted in the following excerpt from the City of Dayton / Kettering, “Annual Action Plan 2012” (pg 4)

The Consolidated Plan was guided by three overarching goals that are applied according to community needs. These goals are:

• To provide decent housing by preserving the affordable housing stock, increasing the availability of affordable housing, reducing discriminatory barriers, increasing the supply of supportive housing for those with special needs and transitioning homeless persons and families into housing;

 

• To provide a suitable living environment through safer, more livable neighborhoods, greater integration of low and moderate income residents throughout the City, increased housing opportunities and reinvestment in deteriorating neighborhoods; and

• To expand economic opportunities through more jobs paying sufficient wages, homeownership opportunities, development activities that promote long term community viability and the empowerment of low and moderate income persons to achieve self sufficiency.

View Full City of Dayton / Kettering Action Plan 2012

 

 

 
 

Non-Profit Organizations Material

Our EAH Forum was a great source of information, if you missed joining us but would like to see the material our partner NON-PROFITS provided, click below:

 

Home Ownership Center Material

City Wide Development Material

 
 

Lender Material

Our EAH Forum was a great source of information, if you missed joining us but would like to see the material our partner LENDERS provided, click below:

Chase Mortgage Material

Fifth Third Mortgage Material

Wells Fargo Material

 
 

THANK YOU!!

Our Kick Off Initiative of the Employer Assisted Housing was a great way to jump start and grow the excitement for this program!  If you missed the day, you may be interested in clicking on the following links… (video clips are being put together for highlights!)

EAH Forum Materials Distributed

 
 

The “FORUM” Agenda has been set

SAVE THE DATE and make sure you make it a point to attend this event to be held on Monday, July 16 from 7:30 am – 11:00 am.  This event includes FREE BREAKFAST BUFFET for those who RSVP in advance.  The following is are scheduled agenda to which you, fellow co-workers, HR Personnel, Managers or interested parties are invited (just please be sure to RSVP so we can have an accurate count for participation.)

7:30 am Breakfast / Networking

8:00 am Opening Remarks WELCOME

8:15-9:00 City Mayor(s) Discussion

9:00-9:30 Guest Speaker

9:30-10:00 Non-Profit Organizations

10:00-10:30 Lender Panel Remarks

10:30-11:00 Realtor Panel Remarks

 
 
 
 

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