Family Promise set to offer new homeownership courses
SAVANNAH, Ga. (WTOC) - It’s been a turbulent year because of the COVID-19 pandemic and one families are still adjusting to. While it’s been a challenge for some financially, others have seen more support because of the American Rescue Plan.
It’s because of this nonprofits like Family Promise of the Coastal Empire are looking to help by creating new programs for this moment.
They are typically known for their assistance for homeless families in the Coastal Empire. They have a success rate of 93 percent, meaning their families transition out. Despite this good news they feel there’s more they can do to combat poverty for their graduates like supporting home ownership, especially now because of the American Rescue Plan.
“We wanted to make sure they utilized those resources for long-term and what that looks like,” said Katrina Bostick, Executive Director of Family Promise of the Coastal Empire. “We do know that homeownership is definitely a way to look at and increase wealth-building so because families have these extra resources we thought that this was the best time to capitalize.”
They are planning a three-course training session for 30 households to learn the ins and outs of homeownership with help from Habitat for Humanity and Community Housing Services Agency. They will discuss needs, best practices, finances and more with hopes of empowering families in the future.
“We want to be able to start the conversation, give them the resources and the tools that they need to be successful and look at how we can walk alongside them during this process,” said Bostick.
Leaders say they know the housing market is crazy right now and that will be a part of their discussion. They want families to know what to expect and set them up for success.
“We are very optimistic about our families buying,” explained Katrina Bostick, Family Promises executive director. “But we also want to be extremely careful on how we promote this. One because we know the housing market is extremely hot, but right now we’re looking at how we can inform our families so when the housing market possibly cools down then they will be prepared to make that next step.”
The first session of the virtual class is set for this week. Leaders hope they can grow the class from family promise graduates to serve others in the Coastal Empire sometime in the future.
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