Latest news with #HUD-certified
Gulf Today
03-08-2025
- Business
- Gulf Today
Cutting housing counselling is a grave mistake
For generations, owning a home has been one of the most effective ways for American families to build wealth, stability and long-term opportunity. But for far too many families, especially those who are Black and Latine, this opportunity remains out of reach. Sustainable homeownership means giving people the tools and support they need to make informed decisions for long-term success. That's what housing counseling does. Usually working at nonprofit organisations, trained counselors certified by the US Department of Housing and Urban Development (HUD) help individuals and families navigate every stage of the housing journey, from renting to buying to holding on to their homes during hard times, according to the Tribune News Service. The advice of these counselors is unbiased, typically free and grounded in the best interests of families and communities. They help clients build budgets, improve credit, understand down-payment assistance programmes and avoid scams. When crises like illness or job loss strike, housing counselors are often the ones helping families avoid foreclosure. This work has significant reach. HUD data shows that from October 2023 to September 2024, more than 4,600 HUD-certified counselors assisted more than 850,000 households. In Illinois alone, 193 HUD-certified counselors assisted more than 34,000 households. More than 2,000 families purchased their first home, and approximately 800 families avoided mortgage default or foreclosure, stabilising not only these families but entire neighbourhoods. But the budget proposed by the House of Representatives eliminates funding for HUD's Housing Counseling Program from the nation's budget for fiscal year 2026. This is not just a routine cut. It's a reversal of decades of bipartisan support for sustainable homeownership and housing stability. The Senate could restore housing counseling funding in its budget proposal, which would then need to be negotiated with the House of Representatives. At Housing Action Illinois, a HUD-approved intermediary, my work involves supporting a network of 35 housing counseling agencies across the Midwest and beyond. I see up-close how the numbers translate into real, life-changing stories. An agency in our network recently helped Yara, a single mother in Central Illinois who was overwhelmed by the homebuying process. It connected her with Tessa, a housing counselor who helped her walk through the process of building credit and preparing for home ownership. With Tessa's guidance, Yara secured down payment assistance and became a first-time homeowner. Then there's China, who came to a Missouri-based counselor with a low credit score. Over two years, she followed a personalized plan to pay off student loans and raise her credit, eventually qualifying for a mortgage. After closing on her new home this past winter, she returned for post-purchase counseling to stay on track. I also think of Elliot, a single father of four who spent five years working with a housing counselor in Wisconsin. With support and perseverance, he went on a remarkable journey from homelessness to homeownership by rebuilding his credit, growing his savings and qualifying for a Habitat for Humanity home. As housing becomes harder to find amid growing economic uncertainty, housing counseling becomes even more of a lifeline. That's why it's alarming that these budget proposals zero out funding for HUD's Housing Counseling Program. Eliminating this support turns away from decades of federal policy that has embraced homeownership as a core national goal. For nearly 60 years, housing counselors have helped families buy and keep homes — in big cities, small towns and rural communities alike. This work has been especially important during tough times, such as the foreclosure crisis and again during the COVID-19 pandemic, when housing counselors were on the front lines, meeting with clients and contacting banks and servicers to help homeowners to keep their homes.
Business Wire
17-07-2025
- Business
- Business Wire
Tri Counties Bank and FHLBank San Francisco Donate $180,000 to Affordable Homeownership
CHICO, Calif.--(BUSINESS WIRE)-- Tri Counties Bank, in partnership with the Federal Home Loan Bank of San Francisco (FHLBank San Francisco) through its Empowering Homeownership Matching Grant Program, awarded grants totaling $180,000 to Self-Help Enterprises (SHE), Greater Sacramento Urban League (GSUL), and the San Francisco Housing Development Corporation (SFHDC). 'These grants, combined with the dedicated efforts of our nonprofit partners, empower families to invest in their financial futures by turning the dream of homeownership into reality," said Rick Smith, President and CEO of Tri Counties Bank. #MemberFDIC Share 'Tri Counties Bank is proud to partner with FHLBank San Francisco to support more affordable housing throughout California,' said Rick Smith, President and CEO of Tri Counties Bank. 'These grants, combined with the dedicated efforts of our nonprofit partners, empower families to invest in their financial futures by turning the dream of homeownership into reality.' FHLBank San Francisco launched the Empowering Homeownership matching grant program in 2022 to expand access to affordable homeownership opportunities for low-, moderate-, and middle-income individuals and families. As a member financial institution, Tri Counties Bank can request matching donations from FHLBank San Francisco at a ratio of $2 for every $1 Tri Counties Bank contributes, up to a maximum of $200,000, to approved housing counseling agencies like SHE, GSUL, and SFHDC. 'We've invested millions in educating and empowering aspiring homeowners through our matching grant programs, including the Empowering Homeownership grant program,' said Eric Cicourel, Community Investment Officer at FHLBank San Francisco. 'By partnering with member financial institutions like Tri Counties Bank and supporting local housing counseling agencies, we aim to equip families with the knowledge, resources, and confidence to make informed housing decisions—and to help make the American dream of homeownership more accessible to all.' SHE is a nationally recognized community development organization whose mission is to work together with low-income families to build and sustain healthy homes and communities. Their $75,000 grant will underwrite homeownership counseling services that provide guidance and support to individuals and families at every stage of the homebuying process, helping them to make informed decisions and build long-term financial stability. GSUL has been committed to empowering communities and changing lives in the Greater Sacramento region since 1968. Through focused efforts to empower, educate and employ youth and families, they have assisted thousands of Sacramentans gain meaningful employment; access safe, affordable and stable housing; reach their educational goals; overcome health disparities; and improve their overall health and wellness. Their $60,000 grant will support their HUD-certified housing counseling program, which includes guidance on homebuying, foreclosure prevention, rental counseling, and homelessness prevention. SFHDC fosters financial stability through the development of affordable housing, the facilitation of homeownership, and the economic empowerment and revitalization of neighborhoods in San Francisco. Their $45,000 grant assists their Financial Empowerment Center, which provides HUD-certified workshops and counseling services, covering homebuyer education, rental guidance, financial literacy, and pre- and post-purchase support. To learn more about the FHLBank San Francisco's community programs, visit About Tri Counties Bank Established in 1975, Tri Counties Bank is a wholly-owned subsidiary of TriCo Bancshares (NASDAQ: TCBK), headquartered in Chico, California with corporate offices in Roseville, South San Francisco, and Bakersfield, with assets of nearly $10 billion and 50 years of financial stability. Tri Counties Bank is dedicated to providing exceptional service for individuals and businesses throughout California with more than 75 locations, advanced mobile and online banking, and access to approximately 40,000 surcharge-free ATMs nationwide. As California's Local Bank, Tri Counties Bank prioritizes serving clients with local bankers and local decision-making, backed by corporate philanthropy, community engagement, employee volunteerism and investments. Recognized by various publications as among the Top Workplaces and Best Banks, Tri Counties Bank recruits and retains diverse and talented team members. Visit to learn more. Member FDIC. Equal Housing Lender. NMLS #458732. About the Federal Home Loan Bank of San Francisco The Federal Home Loan Bank of San Francisco is a member-driven cooperative helping local lenders in Arizona, California, and Nevada build strong communities, create opportunity, and change lives for the better. The tools and resources they provide to their member financial institutions — commercial banks, credit unions, industrial loan companies, savings institutions, insurance companies, and community development financial institutions — propel homeownership and expand access to quality housing and boost economic development. Together, with their members and other partners, they are making the communities they serve more vibrant and resilient.
Yahoo
03-06-2025
- Business
- Yahoo
Rochester seeking proposals for manufactured homes
ROCHESTER, N.Y. (WROC) — A new pilot program to provide Rochester residents with affordable housing was announced on Tuesday, with Mayor Malik Evans requesting proposals for the project. The Request for Proposals (RFP) is requesting home builders with a specialty in modular and HUD-certified manufactured housing to design, manufacture, and deliver nine single-family homes. The homes will be built in Northeast Rochester along Wilder Street, Davis Street, Lewis Street, and High Street. 'Quality housing is the foundation of strong families, thriving neighborhoods, and a prosperous city. We are working every day to make Rochester a city of opportunity for renters, first-time homebuyers, and everyone in between. Testing the feasibility of modular and manufactured housing is just one way we're creatively and strategically working to increase homeownership in the city,' Mayor Malik Evans said during Tuesday's announcement. Mayor Evans: Rochester joining lawsuit against federal government The project is said to explore the potential for lowering the cost of construction and provide high-quality and energy-efficient housing that will provide residents who earn between 80% and 120% of the median earned income the opportunity to become homeowners. Income-qualified homebuyers in the program will also be provided access to Rochester's Home Purchase Assistance Program for assistance with down payments and closing costs. Proposals are due by Monday, July 9 at 4 p.m. Additional details about the RFP and submission requirements can be found on the City of Rochester's website. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
02-04-2025
- Business
- Yahoo
St. Martin Center offering free budget, home buying classes
(WJET/WFXP)– With the month of April being Financial Literacy Month, one local nonprofit is offering Erie residents some free lessons on saving money and buying a home. Four HUD-certified counselors will be coming to the St. Martin Center for their 'Thrive on a Dime: Budgeting for Success' classes covering the basics of budgeting along with the home-buying class. Erie Habitat for Humanity, Erie Insurance partner up to build two new homes The home buying class is set to take place on April 9th from 3 to 7 p.m. at St. Martin Center and via Zoom at Blasco Public Library. 'Last fiscal year, 479 clients participated in our financial literacy classes, demonstrating a growing commitment to financial empowerment in our community,' said Regina Perry, Self-Sufficiency Director, St. Martin Center. 'We are excited to continue providing the tools and knowledge people need to build a strong financial future.' People who complete the class and meet the criteria can also qualify for $1,000 to help with a down payment courtesy of a grant from the Catholic Charities of the Diocese of Erie. Our Neighbor's Place officials reflect of first year in central location 'April is Financial Literacy Month—an ideal time to highlight the importance of financial education,' stated David González, Chief Executive Officer, St. Martin Center. 'We believe that everyone can benefit from learning how to manage their finances effectively and take control of their financial future.' You can register for those classes on the Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
