Homeownership Program is Awarded Grant for Education and Counseling for Norfolk Residents

For More Information: 

Jenn White jewhite@nrha.us 757.314.2009

For Immediate Release
Release Date: 
Mon, 08/05/2013

The HomeNet Homeownership Center, a function of the Norfolk Redevelopment and Housing Authority (NRHA), has been awarded a $31,200.00 grant from the Virginia Housing Development Authority from the FY13 HUD Housing Counseling Grant Funds. The grant amount has doubled from the FY12 award amount of $15,275.00 due to the success rate of the HomeNet counseling program. The majority of the FY13 award has been designated as pass-through funds for NRHA to provide group education classes, individual housing counseling services and staff training to ensure that NRHA is up to date with all HUD counseling requirements.

Counseling classes aim to demystify the process of purchasing a home by ensuring the clients understand the basics of the home buying process; ranging from developing a spending and savings plan, the role of the lender, the role of a real estate agent, understanding a real estate contract, maintenance and upkeep on a home, home insurance and what to expect at closing. Clients who are not ready for homeownership receive ongoing one-on-one counseling and assistance in developing an action plan to remove barriers that stand between them and purchasing a home such as derogatory debt, lack of savings, and low credit scores.

For more information on the HomeNet Homeownership Center: www.nrha.us/own/homenet

About NRHA: 

Founded in 1940, NRHA is a national leader in community revitalization and fostering sustainable mixed-income communities. As the largest redevelopment and housing authority in Virginia, NRHA plays a key role in making Norfolk the city of choice to build, work, live and play.

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