Take a look at the Circle of Love Financial Management Workbook
2009 Calendar of Events
Mark Your Calendar and Get on the Road to Homeownership
4 Week Training Sessions
Homebuyers Education and Financial Literacy Training & Foreclosure Intervention
Session#1 • January 28- February 19, 2009
Session#2 • April 22-May 14, 2009
Session#3 • October 21-November 12, 2009
We offer morning & evening Group Sessions
Wednesday Mornings • 10am-1pm
Thursday Evenings • 6pm-9pm
— Clients will receive a Certificate upon completion —
Don’t Miss . . .
HBAS Builders Home Show
Visit Us at Booth #800
– March 13, 14, 15, 2009 –
Annual Fundraiser
The Way We Were In The “70’s”
– March 27, 2009 –
Housing Fair
– April 18, 2009 –
Saving the Dream
Free Concert Fundraiser
– June 12, 2009 –
Community Awareness Week
– August 10-14, 2009 –
Community Makeover Week
– August 17-21, 2009 –
Community Block Party
– August 22, 2009 –
Free Credit Repair Workshop
– October 3, 2009 –
Who should attend?
• Anyone with credit issues and a desire to see it cleared up.
What are the benefits of attending?
• Free Counseling
• Free credit report
• Walk away with a plan of action for debt consolidation
What will you learn?
• How to make settlement arrangements with creditors
• How to dispute items on your credit report
• How to create a budget and understand the importance of budgeting
• How to find and save money
• How to keep your credit clean
• How to use the resources and references given
For more information contact Pam Brazil, Executive Director at 989-921-0569.
Board of Directors
Debwin Simon—President
Linda Vanderpool – Vice President
Ed McKeethen—Treasurer
Dujana Roberts – Secretary
Lee Austin—Director
Charlotte Edwards - Director
Charlie DeMercurio – Past President
Otis Dickens—Past President
Advisory Council
Robert Mannor—Attorney
Silas Brazil—Builder
Patricia Franklin-Lindsey—Chemical Bank
Sharon McKeethen - Counselor
Janice Knight – Professional Administrator
Lois A. Robinson – Keller Williams Realty
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What is Circle of Love
We are a non profit organization and a community development corporation (CDC) providing affordable housing for very low to moderate-income families by way of new construction. Assisting individuals, regardless of background, ethnicity, or physical ability, we bring together cooperatives and other broadly based non-profit organizations to obtain modest, decent, safe and clean facilities for use as permanent homes. We also provide educational training courses and referrals to help the clients’ awareness and ability concerning the overall maintenance, safety, up-keep and financial responsibilities of the home/facility once occupancy is obtained; thus, promoting self-enrichment, community pride and development.
is to provide counseling services and affordable housing for very low to moderate income families.
• Must meet the income limits based on family size for the area
• Must be unable to obtain sufficient credit from other sources
• Must have adequate repayment ability
• PTI debt ratio cannot exceed 29% for very low or 33% for low income families
• TD ratio cannot exceed 41%
• Cannot presently own a dwelling unless it is structurally unsound, functionally
inadequate or not large enough to accommodate their needs
• Meet citizenship or eligible non-citizen requirements
• Possess legal capacity to incur the loan
• Personally occupy the dwelling
• Have an acceptable credit history
• Proof of employment (i.e., 2 pay stubs)
To be eligible for Links to Homeownership benefits:
1. The household income must be within the applicable income limits as seen below;
2. if you are pregnant or have at least one related minor child residing the household and;
3. client will be ready to purchase a home using a MSHDA mortgage product within 12 months of completing the application. Once application is submitted a certified counselor will pull a tri-merged credit report and review with client to determine if client qualifies for the Links program.
In order to qualify, your household income must be less than (in Saginaw County):
| One person: | $31,250 | |
| Two people: | $35,700 | |
| Three people: | $40,200 | |
| Four people: | $44,650 | |
| Five people: | $48,200 | |
| Six people: | $51,800 | |
| Seven people: | $55,350 | |
| Eight people: | $58,950 |
Please remember you may still qualify for a MSHDA loan even if you don’t qualify for MSHDA LINKS!
“Median income level subject to change, according to government regulations”
Educational & Counseling Programs
Circle of Love CDC will work with eligible families to provide the necessary counseling services that will empower them to become homeowners!
You Pay Nothing!
Down Payment Assistance: MSHDA will pay up to $7,500 towards down payment or closing costs
Credit Repair Funds: MSHDA will pay up to $5,000 to repair credit if you are in the process of obtaining a MSHDA mortgage
Home Inspection Funds: MSHDA will pay up to $750 for inspections prior to home purchase
Home Maintenance Training: MSHDA will pay to provide training
What do you have to lose? Apply today!
Links to Homeownership is a program offered by the Michigan State Housing Development Authority (MSHDA) and Circle of Love CDC for low and moderate income families who are interested in becoming homeowners. Below is a list of the counseling services we provide:
Homebuyer Education: Sessions designed to provide information about the process of home buying and home owning to potential homeowners.
Individual Counseling: Intensive budgeting, credit repair and debt management sessions delivered to eligible potential home buyers by Network Counselors.
Financial Management Education: Educational support groups designed to assist clients in addressing financial problems or barriers to their life goals.
Pre-Purchase Credit Repair: Counseling, advocacy and financial assistance designed to provide help to families in the process of securing a MSHDA mortgage who have credit obstacles that are keeping them from success. (Must prove one-time crisis or serious event with recovery)
Home Maintenance Training: Provides families with information that enables them to perform basic home repairs and upkeep in the areas of structural, electrical, furnaces, wall repair, painting, landscaping, exterior maintenance, and plumbing.
Foreclosure Prevention: Counseling delivered to eligible home owning families for the purpose of saving their home from foreclosure. (Available for all types of mortgage loans)
Home Inspections: Eligible families may secure up to $750 in home inspections or any other inspection listed as a condition in the offer to purchase as an expense to the buyer. (Counselors refer buyers to inspectors)
Counseling may be provided on an individual basis or group setting in which the counselor will provide the following:
• Counseling and advice to the client
• Interview the client in a private space in a confidential manner
• Identify resources that might assist in meeting the needs of the client
• Design an Action Plan. Client and counselor must both sign the plan.
• Monitor the client’s progress and assist with resolving issues
• Administer counseling services provided under the MSHDA approved agreement
• Coordinate efforts with MSHDA, mortgage lenders, bankers, realtors and home
inspectors in order to provide maximum service to the client
• Refer clients, as appropriate, to other community service organizations and agencies
• Provide Housing Counseling Services on a priority basis to low and moderate income clients
State and Local Affiliations
City of Saginaw (saginaw-mi.com)
Department of Housing and Urban Development (hud.gov)
Michigan State Housing Development Authority (michigan.gov/mshda)
Saginaw Community Foundation (saginawfoundation.org)
Links
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Hot 107 (hotwtlz.com) |
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WSGW Newsradio 790 (www.wsgw.com) |
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Home Builders Association of Saginaw (www.hbas.org) |
Circle of Love
(A Non-Profit Organization, Community Development Corporation)
1809 Durand Street
Saginaw, Michigan, 48602
phone: 989-921-0569
fax: 989-754-1654
email: 
Pamelia D. Brazil, Executive Director, pbrazil@circleoflovecdc.org
Silas Brazil, Construction Manager, sbrazil@circleoflovecdc.org
Iris Burns, Administrative Assistant, iburns@circleoflovecdc.org