Lives Transformed: The Value of Good Homeownership Education

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That was when they read a story in the local paper about HUD’s American Dream Downpayment Initiative (ADDI) offered in collaboration with Middlesex County and the Faith Fellowship Community Development Corporation (FFCDC). They filled out an application for downpayment assistance through the County and went looking for homes in their price range before attending a required homebuyers education seminar being held by FFCDC. In the couple of short weeks they waited for the seminar, they actually found a home in their price range (the mid-$100k’s), and began the process of completing the paperwork to receive the ADDI grant.

At the seminar, M.A. and his girlfriend then learned the importance of obtaining a home inspection. When it came time for the inspection on the condo that they had chosen, however, they learned that the sellers had moved a wall without first seeking a permit. Given this complication, they cancelled the deal while wondering if they would again be able to find a home in their price range.

M.A. was not deterred by this setback. He had been so motivated by the seminar, that he immediately set about finding another property. He found one in 3 weeks, made an offer, and it was accepted. They received a total of $8,000 in downpayment and closing cost assistance from Middlesex County’s ADDI program. Now this young family has a home of their own and the ability to build equity and create a brighter future. None of this would have been possible without the housing counseling the received at the seminar and the HUD funded ADDI program.

FFCDC is a HUD-approved housing counseling agency that has received a FY 2004 Housing Counseling grant of $23,395 and a FY 2006 Housing Counseling grant of $23,254.