Wells Fargo has awarded Community Connection of Northeast Oregon Inc. a $10,000 grant to their Housing Resource Center for their work on prepurchase, financial capability and foreclosure avoidance counseling and education.
Community Connection provides prepurchase counseling to people interested in purchasing a home. Their HUD-certified housing counselor helps position folks for lender approval by addressing budget, credit, debt and educates prospective homeowners of available loan products, as well as ensures that they can sustain housing costs on a comfortable financial basis. Community Connection also offers Individual Development Accounts for first-time homebuyers, allowing prospective buyers to save up to $12,000 toward a down payment. In 2019 there have been three home purchases through the IDA program and 18 more in process.
Community Connection’s certified foreclosure intervention and default counselor counsels homeowners at risk of losing their homes to foreclosure by reviewing options and strategies to retain ownership of their homes. This includes available programs for loan reinstatement, mortgage payment reduction and property tax reinstatement. Also included is financial capability counseling which involves current budgeting and creating a sustainable projected budget. This year, Community Connection’s efforts in foreclosure avoidance counseling has saved homeowners a total of $724,344.44 and saved 36 homes from foreclosure.