2003-06-27 / Front Page

Homebuyers Club Offered

Homebuyers Club Offered

Margert Community Corporation is presently accepting registrations for its newly established homebuyers club, the "First Home Club." This unique new offering will hold the first five classes on July 16.

The club is designed to help individuals prepare for home ownership. The program covers budgeting, savings and credit, choosing a home, available mortgage products, applying for a mortgage, the mortgage closing process, life as a homeowner, and how to avoid predatory lending (as well as how to fight back.)

The course consists of five two-hour classroom sessions, held over a five-week period, which will teach you what it takes to become a successful homeowner. All five classes must be attended for a certificate of completion and to qualify for the matching funds. Upon completion of the required courses, participants will be required to engage in one-on-one counseling to develop an individualized action plan. Once all the terms of the First Home Club requirements are met, including the approved counseling home ownership sessions and income guidelines, and the participating lender has approved your application, the final approval will be made by the Federal Home Loan Bank of NY to grant the award at the mortgage closing. Eligible applicants will qualify to have every $1 they save matched with $3, up to a maximum grant of $5,000.

Classes will be held on Wednesday evenings, from 6:30 p.m. – 8:30 p.m. at the Tessier Learning Center, located at 336 Beach 38 Street, Far Rockaway, on the following dates: July 13, July 23, July 30, August 6, and August 13.

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