Detroit Housing Proposal 2

Organized by The Childrey Deliverance Foundation
Mission Statement
The Childrey Deliverance Foundation, a 501c3, Non-Profit Organization formed to teach future homeowners about credit, residential home acquisition and help existing homeowners avoid foreclosure. We are dedicated to the acquisition and rehabilitation of dilapidated residential (HUD) homes within the City of Detroit and fighting rising costs of Homeowners Insurance Premiums and Excessive Property Taxation. We intend to give grant money through our down payment assistance program to Detroit Residents who are qualified to receive a mortgage and are willing to fix up a dilapidated residential (HUD) home within the borders of the City of Detroit. It's the idea that ownership brings wealth!



A). Housing Development: Our organization provides low cost housing to economically disadvantaged individuals by renovating dilapidated residential housing units and renting them out through one of the Section 8 Housing Programs. We also build houses from the ground up at low cost to the consumer.

B). Leadership Development: Programs that provide unique experiences to equip individuals with leadership skills. Economically disadvantaged individuals of all races will be tutored on the proper utilizations of the tool called credit. The client follows consultantâ??s sound financial advice and he/she becomes eligible to receive a FHA 203K home mortgage loan. The 203K loan permits qualified buyers to borrow funds to purchase 1-4 four family dwellings to make necessary repairs and improvements. The two loans are then combined into a single loan.

C). Funding Development: Collaborative funding efforts in support of affordable housing initiatives. Economically disadvantaged individuals of all races will be tutored on the proper utilizations of the tool called credit. This program provides Down Payment Assistance to low- and moderate- income applicants who are eligible for a mortgage. The Childrey Deliverance Foundation is dedicated to helping future home owners who need help making the down payment to acquire affordable residential housing within the City of Detroit.

D). Credit History: We will be implementing our credit counseling enhancement services to the fullest extent. Credit is a tool to be used properly. The key goal is not to destroy your credit from the beginning of starting your credit history. If a client happens to have been irresponsible with their credit, The Childrey Deliverance Foundation can help our clients reestablish their credit history through our credit enhancement program to initiate debt reduction and saving development plans to achieve the major life enhancing goal of (Home ownership).

Products and Services
1). Education Counseling

A). High School Diploma Preparation

B). GED Test Preparation Counseling

C). College Preparation Counseling

2). Financial Literacy Counseling

A). Job Search Counseling

B). Credit Counseling 101

3). Housing Consultation

A). Mortgage Counseling

B). Foreclosure Counseling

4). Life Skills Counseling

A). Reproductive Health Counseling

B). Parenthood Counseling
Our Goals
Credit Cleansing Goal: Rehabilitate credit abusers and inform future credit users about credit! A). Counselor sets up free seminars in high schools and colleges in effort torecruit potential clients. B). Counselor helps client negotiates the settlement of outstanding debts! C). Counselor helps client write letters about how debts were incurred and how client got behind on payments! D). Client pays debts as arranged! E). Client saves receipts as proof of debt payment! F) Client saves all check stubs and banking statements for one year! G). Counselor helps client apply for a mortgage! H). Client receives mortgage approval! I). Counselor helps client apply for down payment assistance to assist client with closing cost associated with buying neglected residential property! Client buys a refurbished residential home. Itâ??s the idea that ownership brings wealth!



Our goal is to mentor/counsel economically disadvantaged individuals in our community on the importance personal economics (Credit), in order to acquire low cost housing. We will be providing information at no cost to economically disadvantaged individuals, home ownerâ??s, future home ownerâ??s, on their rights on credit issues, mortgage acquisition, property taxes, insurance rates and mortgage forbearance. Our goal is enhancing home ownership opportunities for economically disadvantaged individuals. We provide quarterly professional 1:1 assistance in developing and maintaining a spending and/or debt reduction plan based on the asset you wish to acquire. Client saves $750-$1,000 for home ownership and (CDF) matchesâ?? clientâ??s savings 3/1 ratio though our down payment assistance program.



Agency Explanations




Our counseling agency explains to the client/future homeowner up front his/her consumer rights concerning all matters of homeownership. If we donâ??t know the answer to a problem we will put in diligent research effort s towards finding a qualified expert to find a solution to the problem. (I.E: Real Estate Agent, Mortgage Broker, Construction Contractor, Lawyer, and Etc.)



1). Real Estate Agent: A). Counselor sets up client with hard working Real Estate Agent. B). Counselor gives agent all updated paperwork for client. C). Counselor and Real Estate Agent help client evaluate dilapidated (HUD) properties!

2). Mortgage Broker: A). Counselor sets up client with hard working Mortgage Representative. B). Counselor gives Mortgage Representative the clientâ??s financial information. C). Client receives mortgage!

3). Housing Contractor: A). Counselor sets up client with hard working Contractor t o rehabilitate the (HUD) property. B). Contractor evaluates the property and gives rehabilitation estimates for the property. C). Contractor organizes the rehabilitation of the property!

4). Lawyer: A). Counselor sets up client with hard working knowledgeable lawyer. B). The lawyer evaluates all legal contracts and rechecks title work on the property to ensure clients legal right to subject property once he/she ha s closed on the property!

OutComes




Expected Outcomes: Client learns how to write a professional resume to submit to employers, client learns how to navigate employerâ??s web sites to submit applications, client learns proper interview strategies and client receives employment. Client learns how to establish goals and objectives for their lives. Client learns how to order, analyze, evaluate, and fix their credit scores on their credit reports. Client receives quarterly professional 1:1 assistance in developing and maintaining a spending and/or debt reduction plan based on the asset you wish to acquire. Client learns how to implement Debt Reduction and Saving Development Plans to achieve major life enhancing goals (Home ownership,).



Outcomes: Our organization has counseled more than 10 youths in our community on the importance of graduating from high school and continuing their education through collegiate efforts. We have successfully graduated several participants in our program! Through our job placement program we have helped customers receive interviews and several of these individuals received employment. Through our job placement program we intend to continue to counsel our clients on economic issues (Credit Counseling 101) in an effort to help our clients receive FHA home mortgages.



Evaluation:



Home Ownership: Our organization will compare and contrast the number of clients tutored enhanced their credit, received mortgages and homes with how many clients who did not receive a mortgage and homes! These two factors will show us if our counseling techniques are effective! We will also compare and contrast the number of homes remodeled in a neighborhood with the number of homes demolished in the same area! These two factors will show the progression or lack of progression of a neighborhood being remodeled!

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