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Lateefah, Hope Institute Client:
When Lateefah, a 24-year-old insurance agent, started researching home ownership on her own, she quickly saw the advantages of owning vs. renting a house. But understanding specifics of the mortgage process was intimidating. Lateefah knew she needed help, and found it in PBCIP’s Hope Institute homebuyer education classes.
“PBCIP’s home ownership classes discuss in detail mortgage payments, escrow, points, preventative maintenance, etc., and I do not feel overwhelmed or completely out of my element,” she said. “A majority of the students are starting off with the same knowledge and the same questions about home ownership, so I don’t feel lost in the shuffle.”
And the Hope Institute’s supportive environment motivated Lateefah to take the knowledge in her head, and apply it with her heart. “I learned from the Hope Institute to curb my shopping splurges,” she said. “The amount of money I have to save has increased due the new responsibilities I will have as a homeowner.”
Lateefah has started setting aside money for moving costs and settlement, as well as a maintenance fund so that she is well-prepared to repair and upgrade her home when she becomes her own landlord.
“I would recommend PBCIP’s Hope Institute,” Lateefah said. “PBCIP offers a very straightforward and easy approach to preparing and purchasing a home.”
Letiah, Hope Institute Client:
As a bank teller, Letiah, 31, deals with other people’s money all the time. But when it came to her own finances, she needed an angel on her shoulder to help her walk the straight and narrow.
“I work at a bank, so I already understood the importance of budgeting and banking services,” she said. “I just had ‘selectively’ forgotten to address the outstanding items on my credit report. The Hope Institute de-mystified the process of credit repair and applying for a mortgage.”
Thanks to PBCIP’s homeownership counselor, Letiah now has a credit repair game plan and is ready to put a down payment on a home for herself and her daughters. She credits the support and motivation she received at the Hope Institute and subsequent counseling sessions with inspiring her to stick with the budget she created for herself and follow through with her credit restoration action plan.
Letiah, a mother of two, learned that “good debt” will ultimately build a better life for her two girls, ages five and two.
“Other programs didn’t seem to really convey the information as easily and understandably as the Hope Institute does,” she said. “I stopped attending another program after two sessions, discouraged because I really wanted to purchase a home for my family. The Hope Institute put me on the right path.”