Success Story: Housing
Marie gets a new home, and a new life
In January of 2003, Marie a single mother of two inquired as to the possibility of home ownership. She was participating in Housing Works (CORHA) family self-sufficiency program and wanted to pursue home ownership further through the use of our home buyer education classes and the IDA with the financial fitness classes.
Marie received a copy of her credit report and went to work immediately. Although the IDA program was not officially opened she started right in on taking the financial fitness classes. In September of 2003 she opened her IDA account and made her first minimum monthly payment. At this same time OHCS offered the HOME 24 program were those individuals who were pursing home ownership had 24 months to become mortgage ready and lock in a below market rate. Marie was signed up.
Housing Works also had the opportunity for Section 8 to Home Ownership. Through a collective effort between staff at Housing Works and COCAAN, a list was produced of participants who were on the “Right Path to Home Ownership”. Again, Marie’s name me up.
After making more than minimum monthly payments into her IDA account, taking all of her required classes, working hard, addressing past credit issues, Marie closed on her home in Bend in September 2004, putting down over $26,000.
This closing was made possible by funds and products which consisted of a collection of her IDA account, FSS escrow funds with Home Start Plus dollars, OHCS Home 24 with her Section 8 voucher. “They” say it is not possible these days. Tell that to Marie and her family.
In her words is Marie’s story:
“In January of 1998 I was arrested for possession of a controlled substance, endangerment and criminal neglect of a minor.
In June of 1998 I went to Visions of Hope.
In July of 1998 I moved into Haven House (a shelter of recovering women and their children).
In March of 1999 I moved into an apartment with the help of HUD. Soon I was eligible for the Family Self-Sufficiency program where I set my goal to buy a house.
Five years later I moved into my own home in the same neighborhood as my parents and where my kids already had lots of friends. This was very important to me and thanks to a strong community effort our Dreams Came True!” |
