Homebuyer Education Workshops

We offer monthly homebuyer education workshops, usually the 3rd Wednesday evening of the month from 6:00 pm to 9:00 pm. Registration is encouraged. This workshop is the gateway to CHAI’s full offerings of homeownership services.

Topics covered:

1. Intro to homebuyer education
2. The housing counseling process
3. Credit reports and repair
4. The mortgage pre-approval process
5. Choosing a new home
6. Contract of sale
7. Mortgage financing and appraisal
8. Home inspections
9. Getting to settlement
10. What happens post-purchase
11. The renovation process

Pre-Purchase Housing Counseling

Upon completion of the workshop, you can schedule an individual counseling appointment with CHAI’s housing counselor to discuss your income, personal credit status, and determine what price range is affordable for your family.

Call Homeowner Services at 410-500-5309 or email homeownership@chaibaltimore.org for an appointment.

When you meet with the housing counselor, PLEASE BRING THE FOLLOWING DOCUMENTS:

• Two current pay stubs for each working member of the family
• Last two year’s Federal income tax return form 1040 with accompanying W-2 forms
• Credit Report with Credit Score
• Pre-approval from lender (if available)
• Record of all debts (student loan, car loan, most recent credit card statements
• Last two month’s checking and savings accounts’ statements
• List of other assets (CD’s, stocks, investments, etc.) and value of each

Useful links for additional information:

http://www.baltimorehousing.org/home_center
http://www.livebaltimore.com
http://www.dhcd.state.md.us
http://www.bancroftvillagehomes.com

Foreclosure Prevention Counseling

CHAI offers mortgage counseling and foreclosure prevention services to homeowners, who are behind on mortgage payments or at risk of falling behind in their payments. If you are in need of these services, CHAI’s Foreclosure Prevention counselors will review your existing mortgage, financial situation, and discuss options available to help you to keep your home.

We look forward to having the opportunity to work with you.

Although this is a difficult situation, swift action will result in better options for resolving your financial challenges. DON'T WAIT!

For more information or to set up a phone consultation or face-to-face meeting, contact Aimee Bader, Esq. at 410-500-5310 and e-mail abader@chaibaltimore.org.

When you meet with the foreclosure prevention counselor, Aimee Bader, Esq., PLEASE BRING THE FOLLOWING DOCUMENTS:

• Your most recent mortgage statement or payment coupon
• All materials that you have received in the mail from your mortgage company or a lawyer
• Your last two monthly bank statements
• The last two pay stubs (one month’s worth) of social security, or unemployment award letters for all household earners (if self employed, a Profit and Loss Statement for the most recent quarter)
• State and federal tax returns and W-2 forms from the previous two years
• All settlement papers, documents, disclosures from the originating lender or broker received by client prior to, or at the settlement on the property

TAKE ADDITIONAL ACTION:

• Contact your mortgage company and ask to speak to a representative in the Loss Mitigation Department and ask the representative to send a “loss mitigation workout package” immediately
• Keep a communication log of the date and result of every conversation

Useful links for additional information:

• Learn about typical loss mitigation options
• Learn about state resources to prevent foreclosure http://www.mdhope.gov
• Find out more about President Obama's Making Home Affordable Program: www.makinghomeaffordable.gov
• Ask your counselor about mediation options available http://mdhope.org/ForeclosureMediation.aspx
• If you have been a victim of a foreclosure scam, file a complaint with the Department of Labor, Licensing and Regulation
• If you are a tenant, read about the Rights of Tenants in foreclosure

CHAI offers homebuyer workshops, individual pre-purchase homebuyer counseling and low-interest loans that can be used for down payments, settlement expenses and/or home renovations. CHAI can also help first-time homebuyers qualify at banks for mortgages and special incentives through city, state ad federal lender programs.