Financial Literacy and Housing Institute

The purpose of the Financial Literacy and Housing Institute (the Institute) programs is to train and coach low and moderate income citizens in the skills and knowledge necessary to build personal wealth. Personal wealth refers to improvements in personal finances, homeownership and job skills; and small business development.

Financial Literacy Course

This course consists of a series of in-depth workshops on a broad range of topics related to money management, financial planning and wealth creation.

Financial Literacy Workshops Schedule

Every 3rd Saturday of the month
9:00 a.m. until 1:00 p.m.

Location: 1660 Garnet St.; Kannapolis, NC

To register call:
704-933-7405

IMPORTANT: Workshops will be cancelled without notice, if registration is below five participants. In case of inclement weather or low workshop registration, we will call all registered participants by 6:00 p.m. the day before class to verify whether the workshops will be held

Registration Fee: $1.00 to cover the refreshments.

Homebuyer Education Workshop

The Institute sponsors an 8-hour Homebuyer Education workshop that provides information about the resources and steps involved in purchasing a home. The successful completion of this class is required to qualify for various home financing (mortgage) products, down payment assistance and other services provided by Prosperity, Inc.

2008 Homebuyer Education Workshops Schedule

To register call:
704-933-7405

IMPORTANT: Workshops will be cancelled without notice, if registration is below five participants. In case of inclement weather or low workshop registration, we will call all registered participants by 6:00 p.m. the day before class to verify whether the workshops will be held.

Registration Fee: $5.00 to cover the refreshments.

Down Payment Assistance Program

Depending upon availability of funds, participants in the Institute can apply for financial assistance to be applied toward the down payment and closing costs for the purchase of a new home. To qualify for down payment assistance, participants must meet strict eligibility criteria based on:

• Income eligibility based on family size and income;
• Acceptable mortgage loan.

Contact Prosperity, Inc. to find out whether you may be eligible for down payment assistance.

Individual Development Account (IDA) Program

Participating in Prosperity Individual Development Account Program could earn you up to $1,000 in cash for your home purchase!

An IDA is an asset-based, restricted savings account that matches the deposits made by qualified account holders, for the purpose of creating a long-term asset.

Credit Awareness

A common factor that keeps individuals from purchasing their own home is poor credit. This program helps individuals understand their credit report, improve their credit score and solve credit problems.

Delinquency and Foreclosure Intervention Program

This program provides one-on-one consulting services to individuals who are falling behind on their home mortgage payments and face the threat of losing possession of their homes by means of foreclosure.

Since January 2005, Prosperity has been a participating agency in the N. C. Home Protection Pilot Program for the Dislocated Worker. If you have been laid off based on an economic downturn, visit the following site to learn about the benefits offered by this pilot program. http://www.nchfa.com/Homebuyers/HOhomeprotectionpilot.aspx

Reverse Mortgage Program

Individuals who own their home and are 62 years old or older are eligible to create additional income by means of a reverse mortgage, based on the amount of their home equity or the market value of their home minus any debts attached to the home. Prosperity Unlimited, Inc. has certified counselors to provide reverse mortgage counseling to individuals who meet the criteria of the program.

Rental Housing Intervention Program

The goal of this program is to assist low-income individuals retain their rental housing and avoid involuntary eviction. The program focuses on budgeting, rental counseling and referrals to Departments of Social Services and other private agencies that provide emergency rental assistance.

To learn more, visit Prosperity Ministries

Predatory Lending Education and Refinancing Program

Low and moderate income individuals are often at risk of acquiring personal and home loans with excessive interest and other charges. The Predatory Lending Education and Refinancing Program offers one-on-one assistance to individuals who are experiencing financial distress resulting from such loans. Through this program, Prosperity’s staff consults, confidentially, with individuals to review their budget and evaluate options for repairing their credit and replacing their existing loan with a better loan. In the process, individuals learn how to guard against predatory lending practices and become wiser borrowers and money managers in the future.

Upon request, any person will receive a review of the terms of your existing home mortgage loan(s) and your refinancing prospects, at no charge.

To learn more about predatory lending, go to Center for Responsible Lenders

PROGRAMS

• Financial Literacy and Housing Institute
• Financial Literacy Course
• Homebuyer Education Workshop
• Down Payment Assistance Program
• Individual Development Account Program
• Credit Awareness
• Delinquency and Foreclosure Intervention Program
• Reverse Mortgage Program
• Rental Housing Intervention Program
• Predatory Lending Education and Refinancing Program