Home-ownership means building home equity instead of paying a landlord’s mortgage payment. It usually means lower monthly housing costs too. Housing Resources, Inc. (HRI) is a non-profit, HUD-approved housing counseling organization. We have operated our Racine office since 2000 as an extension of our headquarters in Milwaukee. Our mission is to prepare people for successful home-ownership. We help participants understand the home purchase process, support them as they address barriers to affordable mortgages, and provide information and resources to assist homeowners in retaining their homes.
Home-buyer Education Class
Presenters at the homebuyer education class include Racine County Treasurer, Jane Nikolai.
Housing Resources, Inc. offers monthly classes in Racine where participants learn all about buying a house. Our trained staff facilitates seven hours of education that feature professionals who work in the real estate field.
Mortgage lenders, realtors, home insurance agents, and home inspectors teach our class participants the details of what they do – and what to expect at each stage of the process. The expert presentations are supplemented by other partners including Racine County Treasurer Jane Nikolai who helps buyers understand property taxes and speakers from the Wisconsin Women’s Business Initiative Corporation (WWBIC) who discuss budgeting, savings, and credit.
There is a $50 fee per person that covers a portion of the cost of the class and subsequent one-on-one appointments. Upon completion of the class, buyers have an opportunity to meet with one of our Homeownership Specialists to create a homeownership plan. To register for our March class, held on March 14th and March 21st from 5:00 p.m. to 8:30 p.m. call 262-636-8271 or register online at https://goo.gl/Km3ksf.
Assessing and Repairing Credit – Ongoing Guidance
Dasheika Kidd and Elena Echeverria are the class facilitators and credit counselors for the Racine office of Housing Resources, Inc.
During an initial one-on-one meeting, we assess the buyers’ current situation. HRI’s counseling is very individualized and customized to the specific issues that each buyer needs to address. We review household income, savings and assist in reviewing their budgets. We help buyers understand how to read their credit report, dispute errors, and improve their credit scores. An action plan is developed specifically for each households needs and ongoing appointments with our office will focus on eliminating the roadblocks to qualifying for affordable mortgages. For some, lack of a down payment and closing costs can be an obstacle. We have resources for eligible households which can include assistance with downpayment or closing costs.
The process of qualifying for a home mortgage can be a relatively short one, for some buyers. For others, it can take some time. As long as buyers remain actively engaged in the process, HRI will continue to provide the advocacy, coaching, and support throughout the home purchase process.
Post Purchase Education
For new and longtime homeowners, Housing Resources and our partners continue to be a resource. Even if buyers didn’t need our help to qualify for your mortgage, our post-purchase education provides important information that will help them be successful. Like our homebuyer education, we bring in professionals to present information about critical topics. Homeowners will learn about investing, tax benefits, home safety, home maintenance, community engagement, and insurance.
In addition to HRI staff, presenters include the Modern Woodmen Financial Planners, the Racine Fire Department, Lee’s Hardware, Racine Neighborhood Watch, Racine County United Way. Post-purchase classes are offered twice a year and cost $25 per household. Our upcoming session in March will be held on Saturday, March 10th from 9 a.m. – 3 p.m.
In addition to our great line-up of speakers, attendees will receive a resource manual full of information to help retain their homes. Plus, thanks to Associated Bank, 10 eligible Racine County households will have the opportunity to be reimbursed up to $500 for home repairs. To register for our homeowner class, call our office or register online at https://goo.gl/eVG22y.
For more information about our programs and classes contact our office at 262-636-8271 or visit our website at www.hri-wi.org
Sponsored by Housing Resources, Inc.