Homeownership Educators
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Albany, NY – The Affordable Housing Partnership of the Capital Region (AHP) helped seventy households achieve homeownership according to their annual program report submitted this month to the U.S. Department of HUD for the fiscal year ending September 30, 2007.

The organization works to promote affordable homeownership opportunities while helping existing homeowners keep their home. Staff offers educational workshops, credit counseling and one-on-one assistance to help first-time buyers become successful.

According to national research by HUD, FannieMae and others, potential homebuyers identify credit concerns, lack of cash, and unfamiliarity with the purchase processes as major barriers to ownership. “We offer programs to address all of these barriers,” says Susan Cotner, AHP’s Executive Director. A variety of workshops, personal consultation, and a matched savings program are all part of AHP’s strategy to help people succeed.

Credit counselors help clients improve their credit before applying for a mortgage. “Long before sub-prime lending was on the evening news, we’ve been telling buyers to fix their credit first to save big in the long run with fair and affordable financing,” explains Tracy Petersen, AHP’s Housing Counseling Program Director. Counselors also help buyers identify potential grants that they may be eligible for to reduce the upfront costs of ownership.

Of the 219 households who completed AHP’s homebuyer education workshops during the year, almost a third successfully closed on a home purchase. In addition to creating new homeowners, the organization reports preventing foreclosure for seventeen households during the same twelve-month period through a variety of intervention assistance.

“We think that resident home ownership is good for individuals and good for neighborhoods,” says Cotner, who notes that 70% of clients counseled were City of Albany residents, though AHP’s services are available throughout the region.

The Affordable Housing Partnership of the Capital Region Inc. (AHP) is a not-for-profit organization that promotes and support affordable homeownership in the Capital Region. For more information contact Susan Cotner, Executive Director, Affordable Housing Partnership, 255 Orange Street Albany, NY 12210, (518) 434-1730 or visit AHP’s website at www.ahphome.org.