Tyrone Turner – VP of Housing and Asset Development
Mortgage Assistance Program
Downpayment Assistance Program
Better Family Life’s Housing and Asset Development Department is HUD certified to provide low- and moderate-income families with home buyer & homeownership education, affordable and sustainable housing opportunities, home repair and maintenance services, foreclosure intervention, and asset building initiatives that aid in the stabilization of families and communities. This comprehensive development model is successful because of the dominant focus on client education. An educated consumer has proven to be the most impactful component that helps to alleviate perpetual poverty and promote improved personal wealth accumulation.
BFL’s Housing & Asset Department offers:
FIRST TIME HOME BUYER PROGRAM – This program assists you in making a safe and steady investment in your future by becoming a first-time homebuyer. It will help you prepare for homeownership through financial and homeownership education, financial coaching, and down payment and closing cost assistance up to $3,000.*
*Some restrictions apply.
Am I eligible? According to program guidelines, a first-time homebuyer is an individual who has not:
- secured a present ownership interest in a principal residence within the past three (3) years;
- taken a real estate tax deduction (on IRS Schedule A) for any residence within the past three (3) years; or
- taken a mortgage interest deduction (on IRS Schedule A) for any residence within the past three (3) years.
Other restrictions and minimum requirements apply. Call the Housing Department at 314.367.3440 to discuss your eligibility. BFL’s Housing and Asset Development Program is HUD and FDIC certified.
STEP UP TO HOME OWNERSHIP- It has been proven that Homebuyer Education prior to purchasing a home is beneficial in preventing foreclosure. Education prior to the process teaches the Homebuyer to establish a housing budget, manage finances and save money to avoid financial setbacks. Better Family launched an intensive program called “Step Up to Home Ownership”, an intensive, accelerated track that provides additional hands-on assistance in the home buying process. The program addresses:
- Household Financial Management
- Credit Restoration
- Financial Management
- Lending Alternatives
BFL believes that housing education and counseling are critically important and it increases the likelihood that those in the market for new homes will make wise decisions regarding purchase and will have better tools and the information to sustain real estate.
Let BFL assist you in keeping your home. What we know is that as homeowners began defaulting on their loans in greater numbers, the number of people seeking foreclosure counseling surged as well, and is needed more now than ever. The dream of homeownership is threatened for many, but particularly minority and low income families. The effect of foreclosure extends far beyond ruined credit. Foreclosure can push families into crisis very quickly, reducing their quality of life and putting them at risk of homelessness. Children forced to move due to a foreclosure run the risk of being uprooted from their schools and isolated from friends. Foreclosure also has dire social and economic side effects on communities, including increased crime, abandoned housing, declines in neighborhood property values and an increase in the cost of City/County services.
Researchers estimate that a single foreclosed property can cost taxpayers more than $30,000 in police, fire, and code enforcement services and may cost neighboring properties up to $356 billion in home value as foreclosed properties depress local real estate.
Better Family Life’s Foreclosure Intervention Counseling Services avoid foreclosure altogether, or help reduce the financial penalties and credit losses resulting from the foreclosure of a home. With a face-to-face counseling session, BFL counselors help develop and implement a workout plan with lending institutions that best suit the current financial situation and fit best with the prospective lender. Call 314.367.1843 to speak with a counselor today.