Home Buyer Counseling
From the December 2009 Newsletter
THE AMERICAN DREAM: THE HOPE TO OWN YOUR OWN HOME
The Homebuyer Coordinator will be working with Individuals who are very interested and serious in becoming a Homeowner. This could be a lengthy process for some individuals but for others it is just a matter of taking care of old debt. I am currently in the process of getting a club together. I am planning the 1st Meeting on January 19, 2010 from 3:00 pm. – 5:00 pm right here in our Resident Opportunity Building located right next the Northern Cheyenne Tribal Housing Authority’s main office. I will be having monthly classes on Credit Management, Financial Literacy and guest speakers on other topics relating to Homeownership. I Hope to see all you interested individuals come and start out the New Year by setting up a budget, following a budget and managing a budget. See you soon. Rachael Two Two, Homebuyer Coordinator.
WALKING HORSE SUB DIVISION NEARS COMPLETION
The Northern Cheyenne Tribal Housing Authority is in the process of getting this Sub-division ready for Homeownership. These homes are going to be for sale once they are ready. I need to start working with prospective homebuyers who are interested in living in the Ashland Area. In this Sub-division there are a total of six (6) 3 bedrooms and four (4) 4 bedrooms. Right now NCTHA is working on the water system which is a major project. Hopefully to be started this early spring. If you are interested in this Walking Horse Sub-division please call 477-6419, Ext. #122. Thank you.
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(From the October 2009 Newsletter)
SEASON’S GREETINGS FROM THE HOMEBUYER COORDINATOR
It’s been a wonderful year and I can not believe the year is almost over, just two (2) more months left. I just heard some GREAT NEWS FOR 1ST TIME HOMEBUYERS.
CONGRESS ADOPTS EXTENSION OF HOMEBUYER TAX CREDIT. PRESIDENT EXPECTED TO SIGN SOON.
This tax credit was set to expire on November 30, 2009. The House vote which was held on November 5, 2009, was 403-12 and the Senate vote on Wednesday was 98-0. The extension will:
§ Extend the $8,000 credit for first-time homebuyers who enter into contracts by April 30, 2010 and close by June 30, 2010;
§ Provide non-first time homebuyers with a $6,500 tax credit if they have resided in their current home for five consecutive years within the last eight years;
§ Raise the income limit from $75,000 for individuals and$150,000 for couples to $125,000 and $225,000, respectively, and;
§ Limit the sale price of eligible homes to $800,000.
This is awesome news for families and single parents who are trying to buy a home. Starting in January 2010 I will be looking for interested families or singles who would like to join a Homebuyers Club. This will consist of classes such as Credit Management and Financial Literacy. These two classes are very important when trying to get financing. Also, I will be working with families to help repair their credit or establish new credit. If you have bad credit or no credit, then it could be a lengthy process. It may take up to six (6) months or up to two (2) years to get it done but it is possible to do if you put your mind to it. Owning you own home will be one of the biggest accomplishments in your life and one of the biggest assets that you will ever have.
Rachael Two Two
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Greetings!! From the Homebuyer Coordinator Corner
My name is Rachael Two Two and I am the Homebuyer Coordinator. Here are some pointers on information that is needed for the Homeownership Program. If you are interested in purchasing your own home; here are a few things that you need before you fill out an application for Rural Development or the Section 184 Indian Housing Loan Guarantee Program.
First of all, the three (3) most important documents are the TSR (Title Status Report) and the Land Lease which you need to work with the Reality Department located at the B.I.A. (Bureau of Indian Affairs). The third document is your Certificate of completion for the Homebuyer Education Class. Here is the reason why you need these before applying for one of the Loan Programs, the Lender has certain time frames when documents expire, so it very important to check into these before applying.
Once you have your Title Status Report, Land Lease and Certificate for the Homebuyer Education Class I will be more than happy to go through the application process with you. This process could take a long time depending if you have all your documents. At this time we will do an Assessment in the following areas:
Intake
Credit report
Indentify obstacles
Develop action plan
Develop short and long term goals
Determine readiness
For more Information I can be reached at the address and number below.
Rachael Two Two, Homebuyer Coordinator
Northern Cheyenne Tribal Housing Authority
P.O. Box 327
Lame Deer, Montana 59043