Put Your Faith to Work with Hammer and Nails

Information by State  Print version   10 Things to Encourage Homeownership Introduction   1. Speak Out About the Benefits of Homeownership   2. Create Partnerships to Educate Potential Homebuyers   3. Encourage Families to Save for a Downpayment   4. Help Families Improve Their Credit Rating   5. Teach Young People about Financial Responsibility   6. Hold an Open House for Homeownership   7. Put Your Faith to Work with Hammer and Nails   8. Encourage Professionals in Your Faith Community to Mentor Families   9. Help Your Neighbor by Going the "Extra Mile"   10. Help Homeowners Keep Their Homes

If you are ready for a bigger challenge, be aware that HUD has programs offering approved organizations the opportunity to purchase certain vacant properties at significant discounts. These properties often need substantial rehabilitation - but when complete, a low or moderate-income family buys a house they could not otherwise

• HUD offers qualified nonprofits with an opportunity to purchase HUD Real Estate Owned properties (REOs) at a substantial discount (up to 30% in HUD revitalization zones). After rehabilitation, participating nonprofits can then sell the property to qualified low to medium income buyers. For more information go to HUD/ FHA Non-profit Program Frequently Asked Questions.
• HUD also offers Police Officers and Teachers the opportunity to purchase its Real Estate Owned properties at a 50% discount in specific revitalized zones. If these individuals meet the program requirements and are willing to invest in local neighborhoods by becoming a resident, they may find this opportunity worth looking into. Do you know an Officer or Teacher who needs a home? Please refer them to the Good Neighbor Next Door program.
• The work of Habitat for Humanity is known around the world. In many communities, Habitat collaborates with existing community development and/or faith organizations in selecting the sites for their efforts. Seek out your local Habitat organization to learn what their process is and work to have them come to your community to build new housing. Go to www.habitatforhumanity.org to learn more.

For more resources and ideas visit: http://www.nehemiahcorp.org/; www.ruralhome.org/; http://www.fhfb.gov.