Consulting Services
Homestead Consulting Services offers education and consulting assistance to all homeowners and potential homeowners regardless of income.
In 2010 we counseled 800 families on foreclosure issues. We also helped over 100 families in pre and post purchase consulting.
HomeBuyer Education
Covers such topics as managing money, understanding credit, house affordability, how to work with realtors and lenders, explanations of mortgage terms, types of loans, explanation of closing costs, what to watch out for in buying a home, how to keep your home, home maintenance, working with contractors and being a good neighbor. Some federal loan and downpayment programs require these classes. Advance registration is required and can be made by calling 765-423-1284. The classes cover two nights or a full Saturday. The cost is $25.00 non-refundable registration fee and an addtional $100.00 fee when the loan closes.
2011 Class Schedule is: Saturday, April 16: 8:30 a.m. to 5:00 p.m. (bring sack lunch)
Wednesdays, May 11 and May 18: 5:30 p.m. to 9:30 p.m. (must attend both)
Saturday, June 18: 8:30 a.m. to 5:00 p.m. (bring sack lunch)
Wednesdays, July 13 and July 20: 5:30 p.m to 9:30 p.m. (must attend both)
Saturday, August 20: 8:30 a.m. to 5:00 p.m (bring sack lunch)
Wednesdays, Sept. 14 and Sept. 21: 5:30 p.m. to 9:30 p.m. (must attend both)
Saturday, October 15: 8:30 a.m. to 5:00 p.m. (bring sack lunch)
Wednesdays, Nov. 9 and Nov. 16: 5:30 p.m. to 9:30 p.m. (must attend both)
Pre-purchase Consulting
Individual consulting for persons interested in purchasing a home. Pre-purchase consulting allows us to work on the clients personal financial issues and help them get financially prepared to purchase a home. They are required to attend HomeBuyer Education once they are close to being prepared. Consulting includes review of credit report, including how to resolve issues; budgeting; discussion of loan options; affordability; and all other aspects of buying a home. Consulting typically takes several appointments. Cost of appointments are covered by a grant, so there is no charge to potential homeowners. Call 765-423-1284 for an appointment.
Foreclosure and Delinquency Consulting
Individual consulting to help homeowners who are behind on their mortgage loan payments and are in danger of foreclosure. We can help make contact with the lender and work out a solution acceptable to both parties. National studies have shown that homeowners are 1.7 times more likely to reach an agreement if they are working with a housing counselor. Appointments are required. Cost of consulting is covered by a grant, so there is no charge to homeowner. Homestead is a member of the Indiana Foreclosure Prevention Network. Call 765-423-1284 for more information or attend our monthly informational session each Thursday at 1:30 p.m. in our office at 200 N. 2nd Street, Lafayette, In.
Reverse Mortgage Counseling
We are certified by HUD to talk with seniors about HUD’s reverse mortgage product. This consulting is required in order to access this mortgage product. Appointments are required and can be made by calling 765-423-1284. The cost of this counseling is covered by a grant so there is no charge to the homeowner.
Home Repair Grants
A matching funds program to help low-to-moderate income homeowners make necessary repairs to their home. Money is limited on a state level and is first-come, first-served. Typically money becomes available in March of each year. Homeowner must have matching funds. Income limits do apply. $50.00 application and processing fee. Closing costs include homebuyer education, credit report, title fees, and recording fees. Fees are part of homeowners matching funds.
Down Payment Assistance
A matching funds program to help low-to-moderate income homeowners purchase their first home. Money is limited on a state level and is first-come, first-served. Typically money becomes available in March of each year. Homeowner must have matching funds and must take Homebuyer Education. Income limits do apply. $125.00 apllication fee. Closing costs include feasibility study, credit report, recording, construction management fee. Fees are part of homeowners matching funds.
Bank On Tippecanoe
Homestead provides the education for this new community program. Spearheaded by the City of Lafayette, United Way of Greater Lafayette, and Homestead Consulting Services, participating banks and credit unions are working together to make opening a bank account as easy and stress free as possible. After taking our education class, consumers can open a free or low-cost checking account, with no minimum balance requirements at any of the participating finanical partners. Those lenders are:
Fifth Third Bank
Huntington National Bank
Lafayette Bank and Trust
Lafayette Community Bank
Lafayette Savings Bank
Old National Bank
Purdue Federal Credit Union
Salin Bank
Staley Credit Union
Classes are free and open to the public. Regisitration is required and can be made by calling 765-423-1284.
2011 Class Schedule: Wednesday, April 6, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, May 4, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, June 1, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, July 6, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, August 3, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, September 7, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, October 5, 2011 6:00 p.m. to 7:00 p.m.
Wednesday, November 2, 2011 6:00 p.m. to 7:00 p.m.