For those who want to experience God’s promise of a home beyond the earth, Habitat for Humanity offers a solution through building homes for poor people in need. These homes are the result of generous donations by individuals, corporations and organizations. The homes are offered as temporary or long-term solutions to real estate problems in areas that have been impacted by natural disasters or where the owners have lost their homes or have faced financial difficulties.
Habitat for Humanity has a vision to transform the lives of desperate families in need. By building low-income, affordable homes, families can finally enjoy living in their own homes and starting a new life. By building these homes, they are helping to build a better future for themselves and their children. With the help of Habitat for Humanity, families are able to take advantage of affordable home ownership, while saving money and strengthening their own communities. In exchange for this service, Habitat for Humanity members receive food, clean water, hygiene products, energy-efficient appliances, transportation assistance, and a mailbox, to name a few.
Habitat for Humanity’s mission is to provide access to quality affordable home ownership for families in need. Through the provision of personalized and customized solutions to real estate problems, they aim to turn disaster into opportunity. Through its Neighborhood Stabilization Program, they implement strategies that bring together different groups to address community concerns, such as economic development and environmental protection. Through this program, they foster self-sufficiency in areas where economic development has been stalled.
One way in which Habitat for Humanity helps those in need is through the provision of quality building materials. Through a program called “Reclaim Your Building Materials,” they provide volunteers with quality building materials that can be used to rebuild or repair homes that have been destroyed by hurricanes, tornadoes, or water. By donating these building materials, you can help provide low cost housing for people who otherwise could not afford it. In return for your donation, you will receive credit toward the purchase of an affordable home.
Along with providing affordable homes, Habitat for Humanity also offers services to homeowners who need assistance in securing their mortgages. They offer a free consultation to determine whether or not refinancing is an appropriate course of action for your situation. If you own an adjustable rate mortgage, you may qualify for a reduced payment and a lower interest rate. Similarly, those homeowners in danger of losing their homes can apply for a deed-in-lieu of foreclosure prevention plan that will reduce the amount of money they would owe on their home should they face foreclosure.
Another way in which Habitat for Humanity helps those in need is through its Neighborhood Stabilization Program. Through this program, Habitat for Humanity pays for demolishing or renovating homes in areas that are at risk of becoming foreclosures. As the name implies, this program targets low-income and minority communities so that homeowners can obtain affordable home ownership. In addition, the program encourages owners to maintain the homes they have by saving them through home refinance or deed-in-lieu of foreclosure.
To be eligible for either of these two programs, an applicant must demonstrate an ability to repay a mortgage payment based on current income. The ability to pay off a mortgage payment using future income is called an income-based hardship letter. For instance, an individual who loses her job will likely not be able to meet her mortgage payments as long as she has a bad paying job. This is where the ability to generate additional income through other work opportunities comes into play. In this instance, the income-based hardship letter must contain examples of prior work experience that demonstrates an ability to generate additional income even during times when jobs are scarce.
It is also important to note that both Habitat for Humanity and Restore the Humanity require applicants to pay a certain amount of money up-front. When applying for either of these programs, it is important to prepare financial statements that include the details of any previous loan payments to Habitat for Humanity, and to show that such payments will still allow for repaying the mortgage payments once the project is completed. In many areas, Habitat for Humanity requires applicants to build a specific number of homes and then submit proof of their ability to build the homes by a designated date. Restore the Humanity requires applicants to build their own homes and then submit proof of their ability to repair the homes if required. Both programs are designed to assist individuals with paying off their mortgages, either through home ownership or through paying off the loans associated with the purchase of these new homes.