Services offered: Mortgage Foreclosure Prevention, Reverse Mortgage Counseling and Foreclosure Prevention, Homebuying Education and Counseling, Post-purchase Education, Financial Literacy Classes and Budget and Credit Education and Counseling.
NeighborWorks maintains some rental properties at Parker Estates offering 2 and 3 bedroom apartments and Brittan House which is a 45 single-room occupancy for single men who may or will be homeless.
Down-Payment Assistance: This program is available for qualified homebuyers so that they can borrow part of their down payment and/or closing costs. All Down payment assistance loans are subject to approval by the NHS loan committee.
•Forgivable down payment assistance: Available to income qualified buyers (<80% AMI) who purchase NeighborWorks Blackhawk Region homes in our priority neighborhoods. Payments are forgiven over 5 years. Property must be owner occupied.
•Deferred down payment assistance: Available to families who purchase homes in our priority neighborhoods. Payments are not required. Loan is repaid when the buyer sells or refinances the home. Property must be owner occupied.
•Repayable down payment assistance: Available to buyers who purchase homes in the City of Beloit. No income restrictions. Property must be owner occupied.
Homebuyers Education seminar: Goes in-depth into the process of buying a home. Issues covered include deciding if homeownership is right for you, credit and qualifying for a loan, different types of loans and financing options, finding a house, what to expect at the loan closing, budgeting to ensure timely payment of your mortgage, insuring your home, maintaining your home and other post-purchase considerations. A fee is charged and it covers your books and materials and lunch for this seven hour class. Online homebuying education is also available.
foreclosure Prevention: NeighborWorks Blackhawk Region provides Foreclosure Prevention (Loss Mitigation) counseling if you get behind on your mortgage payments or, due to circumstances, can no longer afford your home. After you attend one of our orientations, they will assist you through the process of trying to keep your home, and help you understand your options and rights.