For many people, owning a home is part of the American dream, but becoming a homeowner can be an overwhelming process — especially for those who have struggled with financial challenges in the past.
Mallary McHenry, Director of Homeownership at East Akron Neighborhood Development Corporation (EANDC), can relate, having experienced the stress of needing a home loan modification during COVID-19 when his work and family situation changed. These personal experiences are part of why McHenry is committed to teaching the importance of homebuyer education, knowing that working with the EANDC Center for Homeownership can help families achieve the American dream.
The Value of Homebuyer Education
As McHenry explained, there are many programs and resources available to help with down payments that prospective buyers may not know about without homebuyer counseling. EANDC’s HomeToday workshops also highlight other benefits, such as budgeting skills, credit management, and understanding the responsibilities of being a homeowner. Struggling homeowners can also benefit from education on loan modifications and financial assistance for past-due mortgage and utility payments.
Helping Local Families
McHenry recalls working with a family of 4 with school-age children. The parents fell behind on their mortgage during COVID because of delayed income, owing over $4,500. Even after their steady income returned, they struggled to catch up. Through one-on-one budget counseling sessions, EANDC helped them prioritize their past-due payments and access funding from Save the Dream Ohio to get caught up on their mortgage. McHenry is proud of success stories like this, where homeownership counseling allows families to get back on track. He also notes that foreclosure prevention is one of EANDC’s most vital services, with demand higher than ever in Northeast Ohio.
Call (330) 724-0244 to speak with someone in the EANDC Center for Homeownership.
Save the Dream Ohio
EANDC partners with Ohio's Save the Dream program to provide foreclosure assistance. The program helps with delinquent mortgage payments, providing one-time assistance for families who are behind on mortgage payments. After that, counselors like those at EANDC can help homeowners needing additional support through other means.
Sustainable Homeownership
Homebuyer education equips families with the tools and knowledge for sustainable homeownership. Organizations like EANDC are making the dream of homeownership accessible in Akron, even during challenging times. Their services help homeowners navigate the complex world of mortgages, avoid foreclosure, and create stability for themselves and the community.
Click here to register for the HomeToday Homeownership Program or call (330) 724-0244 and speak with someone in the Center for Homeownership for assistance.