Laserfiche WebLink
<br />. Negotiating the purchase <br />. Property insurance <br />. Escrow and title procedures <br />. Closing the sale <br />. Responsibilities of homeownership (economic - including default <br />management, personal and physical) <br />. Becoming a community member and neighbor <br /> <br />Target goal for the homebuyer education seminars: Award certificates of <br />completion to 100 households for completing the City's homebuyer education <br />seminar <br /> <br />C. REAL ESTATE PROFESSIONALS WORKSHOPS <br />Consultant will conduct at least 1 workshop targeting local realtors and lenders to educate <br />them about the City's FTHB and Inclusionary Ownership Housing Program and seek <br />their assistance in promoting these City programs. <br /> <br />D. HOMEBUYER COUNSELING <br />Consultant duties include conducting free individual counseling with households meeting <br />the following eligibility criteria and providing further assistance to households who have <br />completed a City FTHB educational seminar. Counseling curriculum shall include: 1) <br />preliminary personal financial resource analysis; 2) setting up a purchase plan and 3) <br />focused education on the homebuying process. Counseling sessions shall also involve <br />promotion and implementation of the WISH Program for eligible households. The WISH <br />Program provides qualified low-income first time homebuyers with matching forgivable <br />loans from one of several participating member banks and will match up to $3 for every <br />dollar (to a maximum of $15,000) contributed by the homeowner toward the purchase of <br />the home. <br /> <br />. Must be first time homebuyers (participants may not have owned a <br />residential property for at least the past three years) <br />. Must live or work in the City of San Leandro <br />. Must have incomes at or below 120% of Area Median Income (AMI) <br />. Must have steady employment and/or income <br />. Must have credit scores that are above 620 or its equivalent. All <br />individuals/households with lesser scores will be immediately referred over <br />to Springboard Non-Profit Credit Counselors for credit and debt <br />management. Springboard is a non-profit consumer credit management <br />organization formed by local business leaders located in several California <br />communities. <br />. Must not be overextended with their credit. All individuals/households will be <br />classified as overextended if their debt is in excess of 20% of their monthly <br />income. All individuals/households with overextended credit will be <br />immediately referred over to Springboard Non-Profit Credit Counselors for <br />credit and debt management counseling. <br /> <br />Consulting Services Agreement between the Redevelopment Agency of <br />City of San Leandro and Bay Area Homebuyer Agency <br /> <br />[July 1, 2007] <br />Page 16 of20 <br />