MHRC.info - Products and Services

Product 1
HOME BUYER EDUCATION
.tTIS

This course offers the potential homebuyer basic information on ths homebuying process. It serves as an introduction to the overall program and covers the following topics:

1. Should you buy?
2. Advantages and disadvantages of homeownership.
3. How much can you afford?
4. What of home do you want and/or need?
5. Determining your current financial status.
6. How much money do you qualify to borrow?

Who's Who in the homebuying process:
1. Real Estate agent
2. Mortgage lender
3. Property inspector
4. Property appraiser
5. Closing attorney

Product 2:

FINANCIAL MANAGEMENT

This course provides the program participants with information to help develop skills that are critical to buying and maintaining a home.

1. How to read a credit report.
2. Understanding the content of your credit report.
3. What is a household budget?
4. Developing a budget for homeownership success.

Actual worksheets completed during class include:

1. Spending Habits Worksheet
2. Monthly Spending Worksheet
3. Monthly Budget Control Worksheet

Additional worksheets provided include:

1. Daily Cash Balance
2. Monthly expenses
3. Yearly expenses

.

Product 3:

HOME BUYING PROCESS

This session is the turning point at which participants are able to tie together all learning as they prepare for the most important step mortgage financing. The information provided includes:

1. Types of mortgage loans

2. Sample loan application

3. The mortgage loan application process

4. Shopping for a home

5. A neighborhood review checklist

6. The home inspection procedure

7. The mortgage loan closing process

8. Understanding contract obligations

9. What to do when you cannot pay your mortgage.

Products 4:

HOME MAINTENANCE

As a final step in the process, MHRC prepares the particpants to grow the financial investment made by purchasing a home. Proper maintenance helps assure that homeownership is truly a financial asset. You will learn:

1. How to locate a qualified contractor.
2. Improvements to enhance property value.
3. How to conserve energy.
4. Seasonal and routine maintenance tips.
5. The components of a homeowner's Basic Tool Kit.
6. How to handle financial problems.

Product 5:

Pre and Post Bankruptcy Counseling

Under BAPCPA, which was enacted on April 20, 2005, all individual debtors who file bankruptcy on or after October 17, 2005, must undergo credit counseling within six months before they file bankruptcy and must complete a Financial Management Instructional Course after they file bankruptcy.

Financial Management Instructional Course

Course held monthly. Call 901-529-1151 to register for the class.

Product 6

Foreclosure Counseling

Foreclosure is a very serious problem in our country. It is projected a staggering one million families will face losing their homes this year. Foreclosure has a disastrous financial impact on family and the community at large - driving down property values and leading to increased crime, rundown schools and stagnated economic growth.

Counseling by appointment only, call to schedule - 901-529-1151

* What to have ready when you call:
Make a list / copies of monthly bills, amount of mortgage payment, name of mortgage lender and loan number. Having this information will help the counselor build an accurate assessment of your situation.