NeighborWorks® HomeOwnership Center of Worcester H.I.P. loans

dc.contributor.advisorCamayd-Freixas, Yoel
dc.contributor.authorMontgomery, George
dc.date.accessioned2010-01-25T16:23:22Z
dc.date.available2010-01-25T16:23:22Z
dc.date.issued2005en_US
dc.description.abstractThe NeighborWorks® Homeownership Center of Worcester developed a "pilot" Home Improvement Program (HIP) by providing home repair loans and post purchase counseling for residents of the neighborhoods of Worcester, Massachusetts. In this program, homeowners will invest in the improvement of their home. Working with Oak Hill CDC as the lead in a collaborative effort called the NeighborWorks® Homeownership Center of Worcester (NWHOCW), the program will empower 5 families to improve their home by providing loans for home repair. The NWHOCW has a productive network of affordable housing programs that will work with HIP participants in the Full Cycle Lending® process from Financial Fitness and Homebuyer Education classes, to flexible mortgage products and post purchase information for home ownership retention. Graduates of the pre and post purchase workshops who meet specific income guidelines may be eligible for greater savings. The NWHOCW will utilize funds from the Worcester Community Housing Resources (WCHR) Community Loan Fund and the Oak Hill Community Development Corporation (OHCDC) Loan Fund for the Home Improvement Lending Program. The core purpose is to improve the housing stock in the communities of Worcester, particularly homes newly purchased by first time homebuyers, as well as those owned by homeowners living in certain areas for a long time. The success of the program will be determined by: (a) 40% of the "pilot participants" "close" on a home improvement loan by March 11, 2005 (b) 100% of the grant money is available as measured by budget reports (c) All 5 participants will know the potential equity increase of their homes, with assessed improvements, as measured by the HIP work assessment document. (Author abstract)en_US
dc.description.bibliographicCitationMontgomery, G. (2005). NeighborWorks HomeOwnership Center of Worcester H.I.P. loans. Retrieved from http://academicarchive.snhu.eduen_US
dc.description.degreeMaster of Science (M.S.)en_US
dc.description.schoolSchool of Community Economic Developmenten_US
dc.digSpecsCreation software: Adobe Acrobat Professional 9.3en_US
dc.format.extent1079620 bytesen_US
dc.format.extent367171 bytesen_US
dc.format.mediaTypePDF/A-1aen_US
dc.identifier.urihttps://hdl.handle.net/10474/172
dc.language.isoen_USen_US
dc.publisherSouthern New Hampshire Universityen_US
dc.relation.requiresAdobe Acrobat Readeren_US
dc.rightsAuthor retains all ownership rights. Further reproduction in violation of copyright is prohibiteden_US
dc.rightsHolderMontgomery, Georgeen_US
dc.subject.lcshSouthern New Hampshire University -- Theses (Community Economic Development)en_US
dc.subject.otherHIPen_US
dc.subject.otherhome improvementen_US
dc.subject.otherhomeowner loansen_US
dc.subject.otherWorcester (MA)en_US
dc.subject.otherMassachusetts (US)en_US
dc.titleNeighborWorks® HomeOwnership Center of Worcester H.I.P. loansen_US
dc.title.alternativeNeighborWorks HomeOwnership Center of Worcester home improvement program loansen_US
dc.typeThesisen_US
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