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Asset Building > Housing Counseling
Housing remains one of the most important but challenging expenses that low and moderate incomes families face. Since 1999, Seedco's has focused on housing as a key element of a successful asset building strategy for families and as an important stabilizer for distressed communities. Housing counseling focuses on helping families overcome barriers to low- and moderate-income homeownership and affordable rental housing.
Whether seeking homeownership or rental counseling, families often need assistance to navigate the complicated process. Many low- and middle- income families suffer from poor credit history and/or have difficulty saving for an adequate down payment. As a result, they may be forced into substandard rental situations or be ineligible for favorable commercial mortgages and thus increasing their likelihood of becoming a victim of predatory lending practices.
But receiving professional housing counseling to access benefits can significantly improve the financial stability of families and enable them to ascend the rungs on the asset ladder. For example, down payment assistance and matching programs can greatly reduce the initial up front costs of homeownership while rental benefits can provide over $10,000 in financial relief. In turn, households can use their equity or savings as collateral for future investments in education and business development.
Seedco's Housing Counseling network consists of 43 community-based organizations spanning 13 states and Washington, D.C.: Alabama, Arkansas, Colorado, Florida, Georgia, Louisiana, Maryland, Massachusetts, Mississippi, New York, New Jersey, Tennessee, and Texas. Although Seedco is responsible for the overall design and structure of each program, implementation is facilitated through partnerships with local community-based organizations and customized to accommodate local capacity and resources.
Since 2005, Seedco's Housing Counseling affiliates have assisted more than 60,000 households and have helped 2,730 households purchase a new home.
For more information, please contact Adrienne Perovich.
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