Today our Coldwell Banker United office in Mooresville hosted an enthusiastic presentation by Louise Mack, President and CEO of Prosperity Unlimited, a local non-profit housing counseling agency. They help people hold onto the houses they have or help them purchase a home. Louise is a “ball of fire” and really knows here stuff. I think we’ve always thought of programs like this for people who are in the lowest income category of our community. However, if you talk with Louise and Prosperity Unlimited, you find that given the difficult economy we have now, and given the various programs that are available, lots more people will qualify for a program that will help them reach their housing goals. Now, these are not giveaway programs. The clients must have income of some sort, and there are requirements in the programs that help avoid providing programs to people who are a bad bet. But times are tough, and a lot of people have had their incomes reduced, making it tough to keep up current mortgage payments or get a mortgage to buy a home.
Louise made the point that there are so many programs out there that it is hard for most people to get their arms around the process to find out what’s best for them. Think the lenders can help? Not really. Many are not educated by their companies on these programs. You need a mortgage counselor that focuses on evaluating a person’s or family’s situation and can match them to a program that will help. She says “miracles” happen everyday, like re-working a current mortgage to carry a 2% interest rate rather than go into foreclosure. Some programs are focused on getting foreclosed or new construction inventory (listed before 2009) sold and off the market. This helps to stabilze neighborhoods and keep prices from falling more than they already have. Qualifying incomes can be in the $50,000 to $70,000 range.
There are amazing things going on in helping deserving people get or keep homes. If you or someone you know could benefit from this counseling, give them a call at 704-933-7405 or check out their web site HERE. “You can’t win if you don’t enter!”
