Family Housing Advisory Services, Inc., (FHAS) provides top-notch impact-oriented housing services to about 9,000 low-to-moderate income individuals annually, changing lives, revitalizing communities, and developing lifelong skills. Housing services range from homeless assistance to home ownership, foreclosure prevention, reverse mortgage counseling, financial management and individual development accounts. Our services resulted in the following benefits and 2011 community impact:
Participants in our 12-hour homeownership education workshops, work towards the American Dream of home ownership, gaining knowledge of the home buying process through the workshops, one-on-one counseling and follow-up. We help demystify the home buying process, and develop savings, investment, and wealth building behaviors that last a lifetime. As a result of our Homebuyer Program:
- 114 previous renters are now homeowners
- 460 future homeowners continue to work toward home ownership
Foreclosure Prevention Services
Foreclosure prevention services help homeowners learn about resources and alternatives to foreclosure. Counselors negotiate best possible solutions for homeowners; reducing vacant homes and foreclosures in the community. Last year:
- 46 homeowners saved their homes from foreclosure
Reverse Mortgage Services
Many elderly residents are rich in equity, nut need cash. Often, this leaves them accessible to become targets of scandals resulting in the loss of their homes and equity. The reverse equity mortgage (REM) allows our elderly residents to receive income from the equity in their homes and shelters them from being victimized.
- 198 elderly persons received a reverse mortgage loan to make needed repairs, purchase medicines, pay utility bills, and avoid predatory lending
Financial Literacy Services
Consumers receive education about the importance of savings, the affects of credit on everyday life, and building assets to achieve financial security. Consumers also received education on predatory lending in regards to credit cards, payday cash advance companies, and car and mortgage loans.
- 360 clients received budgeting and financial literacy education throughout agency programs to help budget for rent deposits, down payments, clearing credit blemishes or to meet other housing obligations
- 184 clients established intensive budgeting, credit, savings and Individual Development accounts
Individual Development Account (IDA) Services
IDA's are dedicated, matched savings accounts that can be used to invest in homeownership, education, micro business start-up or expansion. Target population households are 200% or below the median poverty level. IDA's give people hope and hope gives people the incentive to make the decisions that produce long-term positive changes.
- Families have access to a better life thru a two-year matched savings account resulting in funds to purchase a home, continue their education or explore a business venture
- $50,400 total participant savings
- 3 participants opened and are operating micro-Businesses
- 19 participants purchased homes to date
Homeless and Renters
Case Advocates move homeless residents (in shelters, vehicles, abandoned buildings, viaducts, etc.) to emergency shelter and permanent housing, connecting them with housing subsidies, rental assistance, meals, clothing, income sources, and other community resources. Participants receive tenant education, housing search assistance, and budgeting to prepare for housing, and move toward self-sufficiency.
- 78 homeless and near-homeless families served are living in permanent housing
- 283 prevented homelessness/retained housing
- 120 monthly support for senior/transitional/residential housing
Fair Housing Center
The Center ensures equal access to housing for all through education and outreach, investigation of fair housing complaints, and direct assistance to ensure compliance. As a result:
- 176 concerns were reviewed for violation of federal, state, or local fair laws: 51% disability-related, 12% familial status, 19% national origin, 5% race
- 1,859 participants attended workshops in the tri-county area
Omaha/Metro 100 (Homeowner Finance)
Omaha 100 (Metro 100 in Council Bluffs) provides affordable housing financing to low-to-moderate income individuals who qualify for affordable financing options, down-payment assistance, and soft-second mortgages to make their dream of home ownership more affordable and attainable.
- 28 new homeowners in 2008 (860 total new homeowners)
- 22 second mortgage loans
- 33 third mortgage loans
- 9 mortgage rehabilitation loans
- $3 million total loan production