Southwest Economic Solutions
Homebuyer Education

Homeownership is the bedrock of the American Dream and of stable and vital neighborhoods. Our pre-purchase education and counseling program enables prospective homeowners to understand in detail the process of buying a home. Our comprehensive post-purchase education and counseling program helps families make the most of homeownership and build equity. Both programs are free to eligible homebuyers.

Services

Our professional, bilingual and HUD-certified counselors offer pre-purchase and post-purchase education and counseling through one-on-one sessions, group workshops, and community events.

The pre-purchase program covers many important topics, including: financial literacy, budget analysis, home affordability, credit report review, mortgage qualifying, understanding the role of lenders and realtors, and creating a step-by-step action plan. Our certified counselors help homebuyers qualify for loans, avoid predatory lending, prepare documentation, organize their financial planning, and make good decisions for the future. We also discuss different options for down payment assistance from various government sources.

Clients of the Southwest Economic Solutions can now participate in an online pre-purchase program from ehome America. The cost of the course is $50. (See a 30-second ad about this eHome program.) To learn more, call Teresa Torres at 313.841.9641 or email her.

Through a partnership with Freddie Mac, a free CreditSmart® online training course is now available. Whether you are considering homeownership for the first time or currently own a home and need information on how to avoid foreclosure, this flexible, interactive course will teach you how to achieve your financial and homeownership goals.

Our post-purchase curriculum has four parts and covers many important topics, including: financial management, refinancing, avoiding foreclosure, property taxes and insurance, and home maintenance and repairs. Our certified counselors advise homeowners about how to keep their homes, when facing a crisis, through counseling, debt restructuring, and loss mitigation options. Experts strongly recommend post-purchase counseling, especially for new homeowners, because of its proven success in helping families manage and protect their homes.

Our Financial Management Workshop can help you build financial security and wealth. Learn to improve your money management and banking skills, credit worthiness, and achieve long-term financial goals such as: buying and keeping your home, investing, and saving for retirement.

Southwest Economic Solutions is located at 3627 Vernor Highway, Detroit, MI 48216. To learn more or schedule an appointment, call us at 313.841.9641 or email us.

 

 


  
   Results



  • Provided first-time home-buyer counseling to 160 families in 2012; 55 bought homes
  • Counseled 1450 families in last five years to prepare them for home purchase, of whom 280 bought homes
  • Pre-purchase program significantly decreases the chances that the homebuyer will default on the new mortgage
  • Lenders are more willing to extend credit to those who complete pre-purchase counseling
  • Post-purchase program significantly increases the prospect of successful and long-term homeownership
  • Post-purchase program allows families to better manage the asset of their home and accumulate wealth for future generations

 

A part of the mission of Southwest Economic Solutions is to build wealth in the community by promoting homeownership and enhancing financial literacy. Our mission is supported by many important partnerships. Southwest Solutions is Detroit’s only chartered member of NeighborWorks® America. SWES is Michigan’s only housing counseling affiliate of the National Council of La Raza. NCLR strives to increase Hispanic homeownership and supports community organizations that serve Hispanics.

 

 

Southwest Economic Solutions
 

Foreclosure Intervention Counseling

Homebuyer Education

Center for Working Families

Detroit GreenWorks Solutions

ProsperUS Detroit

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HVRP

ehome America homebuyer ed

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Earn and Learn

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