Overview
The HomeOwnership Center delivers the services which lie at the heart of the Housing Council´s mission. We believe that homeownership is a central element of the American Dream. For many years we have focused on first-time homebuyers and on the rehabilitation of older homes. We have added a new emphasis on foreclosure prevention.
The HomeOwnership Center provides assistance to first-time homebuyers with low to moderate incomes for the purchase of modest existing single-family homes. First-time homebuyers are those persons who have never owned a home, or had an ownership interest in a residential land contract, life estate, residential cooperative, or condominium. Special funding may be available for applicants who have a household income that is at or below 80% of the median county income. Such applicants must be able to secure a mortgage with a local bank. They should have a low income to debt ratio and reasonably sound credit history. Participation in our Homebuyer education program is required. In 2006-07, the Housing Council assisted 57 families in acquiring their first homes, delivering more than $1,000,000 in grant assistance.
It is an economic reality that St. Lawrence County has the fourth lowest median income in the State of New York. In many cases, people whose homes have been in their families for decades have trouble keeping them in reasonable condition, given the costs of home repair. The HomeOwnership Center seeks and administers grants and loan funds to assist families with limited incomes with housing rehabilitation.
While our clients have an exceptionally low rate of foreclosure, there are families in St. Lawrence County which, for a variety of reasons, are in danger of losing their homes. Our HomeOwnership Center is participating in a national program of foreclosure prevention.