Credit Repair Workshop
Free to the Public
Location: 700 Cooper (Covenant Hospital)
Time: 10 a.m. - 3 p.m.
Date: November 3, 2007
Free Credit Report
Free one-on-one counseling
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.
7 Week Training Sessions
Homebuyers Pre-Purchase Education and Financial Literacy Training
Session #1 • January 23-March 6, 2008
Session #2 • April 30-June 12, 2008
Session #3 • October 8-November 20, 2008
We offer morning & evening Group Sessions
Wednesday Mornings • 10am-12noon
Thursday Evenings • 6pm-8pm
— Clients will receive a Certificate upon completion —
For more information contact Pam Brazil, Executive Director at 989-921-0569.
Housing Fair
April 19 & August 16, 2008
Annual Fundraiser
July 2008
Free Credit Repair Workshop
October 13, 2008
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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.
• Pre & Post Purchase Counseling
• Budget & Credit Counseling
• Foreclosure Counseling
• Affordable Housing
• Down Payment Assistance
• Educational Training Courses
– LINKS to Home Ownership –
A. HELP (Homebuyer Education for Laypersons Program)
B. Financial Literacy
C. Maintenance 101
D. Life Skills
• Homebuyer Education for Layperson (HELP)
• Financial Literacy Courses
• Maintenance 101
• Life Skills
Educational training to “at-risk youth” and ex-offenders
For more detailed information about the LINKS to Home Ownership Program or financing go to www.michigan.gov/mshda and www.fanniemae.com.
For more information contact:
Pamelia D. Brazil, Executive Director,
Iris Burns, Administrative Assistant,
• 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)
Special Financing
The home must be sold to families earning 80% of area median income or less, based on family size. Families with an annual income up to 80% of median limits may be eligible to purchase homes based on their income, credit, and other underwriting standards.
| 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 |
“Median income level subject to change, according to government regulations”
Must complete the Pre-Screening Application along with Authorization Form for Credit Report. This will be required of all applicants prior to entering into the educational program. Circle of Love CDC’s educational program is comprised of four (4) components:
A. HELP (Homebuyer Education for Laypersons Program)
1. Interested applicants will be pre-screened over the phone.
2. Introductory seminar.
Potential applicants will attend and be given information.
3. Pull credit report on interested applicants.
4. Approved clients go on to complete Component A.
5. Clients who have successfully completed
Component A will then chose the home they wish to purchase...
B. Financial Literacy
This component will consist of several classes: Credit Restoration & Repair, Personal Banking, Budgeting etc.
C. Maintenance 101
This component will teach the new home buyer the importance of maintaining their home and property.
D. Life Skills
This component consists of everything plus the kitchen sink. Guest speakers and volunteers will also be an integral part of the Educational Programs.
For more information contact:
Pamelia D. Brazil, Executive Director,
Iris Burns, Administrative Assistant,
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/home.php) |
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WSGW Newsradio 790 (wsgw.com/home.php) |
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Home Builders Association of Saginaw (hbas.com) |
Board of Directors
Charlie DiMercurio — President
Lee Austin — Vice President
Omia Smith — Treasurer
Ed McKeethen — Secretary
Otis Dickens — Past President
Ramont Roberts — Central Middle School
Melissa Overton — Fifth Third Bank
Lois A. Robinson — Keller Williams Realty
Pamelia D. Brazil — Executive Director
Advisory Council
Robert D. Mannor — Attorney
Silas Brazil — Builder
Patricia Franklin-Lindsey — Chemical Bank
Sharon McKeethen
Janice Knight
It is the mission of Circle of Love CDC to provide affordable housing for very low to moderate-income families by way of new construction. It is our intention to assist individuals, regardless of background, ethnicity, or physical ability, cooperatives and other broadly based non-profit organizations to obtain modest, decent, safe and clean facilities for use as permanent occupancy. Circle of Love CDC will provide educational training courses and referrals to assist 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.
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: 