Louise Stocks comes home each day to her own house, thanks to the United Way Individual Development Account (IDA) program.
And soon, so will 10 families in Butts County.
Louise saved for her house while she completed classes for the IDA program, through United Way partner Henry County Residential Housing. Now, the program is changing neighborhoods in Butts County, too.
The United Way IDA program makes it possible for people to buy their own homes by matching their savings and assisting with the process. Participants attend classes and save through a special account at a partner financial institution.
"The budgeting part of the program was very helpful," Louise said. She also learned about the different types of loans and mortgages and got her credit analyzed by Consumer Credit Counseling Service (CCCS). The financial literacy classes taught her about investing, as well as saving, and how to use credit wisely.
|
 |
The IDA program targets specific neighborhoods-since home owners help make their communities stronger, and provides either a four-to-one or three-to-one match of saved money. There are more than 200 IDA home owners in metro Atlanta, with another 250 saving right now.
Within two years, 10 houses in Butts County neighborhoods will have proud new owners— people who might not have qualified for home ownership without IDA.
Louise and her children had been renting. After completing the program, and saving for a year, Louise was ready to look for a house. United Way matched her savings with four dollars for every one she saved, and Louise was able to buy a home—with a driveway and a backyard, just like her children wanted.
Making neighborhoods safer and stronger through increased home ownership is just one of the ways United Way makes our community safer and stronger.
|
|
