The Family Living Center 

Everyday,The Family Living Center provides safe transitional housing plus a comprehensive supportive service system to help metro east families overcome homelessness.

Beacon Place

Beacon Place is a permanent housing project for persons with disabilities.  Housing subsidies are available, along with supportive services

Leasing Program for Chronic Homeless Persons

This program provides housing assistance for persons who are chronically homeless.  It provides housing search and placement, housing subsidies, and supportive services. 

Housing Counseling  

CDBG Operations Corporation is a HUD certified housing counseling agency.  Offering the following counseling services:

    * Mortgage Delinquency
    * Default Resolution                                                
    * Pre-purchase
    * Foreclosure Prevention
    * Rental Housing
    * Homeless
    * Non-delinquency/ Post Purchase

HOMELESS PREVENTION

Financial assistance for housing and utilities for homeless or near homeless persons.

FINANCIAL LITERACY COMMUNITY OUTREACH
CDBG is offering financial literacy workshops to agencies, high schools and non-profit organizations in the community.  The agency utilizes the National Endowment for Financial Education (NEFE) workshop guides and tools for adult learners, and the NEFE High School Financial Planning Program for students in grades 9 through 12.

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RECOGNIZING THE VALUE OF GOOD CREDIT
Good credit is an increasingly important part of a consumer’s financial power, but good credit is no accident. It’s the result of discipline and  planning. Start today, and your good credit will pay off with better loan terms, lower interest rates, and greater financial opportunities in the future.

UNDERSTANDING YOUR CREDIT SCORE

When you apply for credit, one of the first things a lender will do is request a copy of your credit report from a credit reporting agency. Your credit report will display a history of your credit activities, along with your credit score. Your credit score is computer generated using a formula that provides a snapshot of your  creditworthiness, predicting how likely you are to repay your debts. There are many formulas utilized today,  but the most commonly known one is from the  Fair Isaac Corporation (FICO). According to their  Web site (www.myfico.com), if your credit score is determined using their formula, it will be calculated using the following factors:

• § Payment History (35 percent) – Have your payments been made on time? Have you ever filed for bankruptcy or lost your home to foreclosure? How frequently have your bills gone to collections?
• § Amounts Owed (30 percent) – How much do you owe to creditors and lenders?
• § Length of Credit History (15 percent) – How long have you had credit?
• § New Credit (10 percent) – Does your credit report indicate that you have made numerous applications for new credit and are potentially taking on too much debt? Did you recently receive multiple lines of credit in a short period of time?
• § Types of Credit Used (10 percent) – Does your credit report show a “healthy” mix of credit types  in use?

Learning how to use credit wisely can put you one step closer to purchasing a home. The credit decisions you make today will impact your financial future. But, before you can begin to use credit wisely, you will need to establish your credit. Here are a few tips to help  get you started:

• § Open checking and savings accounts. When you open a checking and savings account, try to always exceed the minimum balance, never bounce checks, and make regular deposits.
• § Use credit cards carefully. Credit cards are convenient and easy to use, but using them recklessly can hurt your credit. If you allow your credit cards to reach high, unpaid balances, or if you only pay the minimum amount due, they can cost you hundreds or thousands of dollars in interest alone. On the other hand, if you pay them in full or on time each month, credits cards can help you build excellent credit and reap the benefits that follow.
• § Establish credit independently. It’s important for both partners in a marriage or relationship to establish their own credit to help achieve financial goals and to protect against unforeseen circumstances like death, divorce, or other life changes. Partners should regularly discuss household and personal expenditures to ensure that neither has an excessive amount of charges that cannot be repaid.
• § Honor your promise to pay. It is essential that you honor your promise to repay loans or credit cards on time and in the amounts scheduled. Contact your lender or creditor immediately if you are experiencing difficulty making payments.
• § Know what’s in your credit report. Check  your credit report at least once each year from  www.annualcreditreport.com to ensure its accuracy. If you are planning a large purchase, check your credit report prior to the purchase to avoid  any surprises and to allow you plenty of time to  correct any errors.

There may have been a time in your history when you experienced a financial setback resulting in credit problems. If so, there are ways to restore your credit to a more positive position:

• § Contact former creditors with whom you’ve had a good payment record. They may be willing to extend you credit to help you re-establish your credit.
• § Carefully review any credit card offers you receive. You do not want to acquire too many;  usually two credit cards will suffice.
• § Avoid disreputable credit repair companies  at all costs. Those that promise a quick, easy  fix could take your money and get you into more debt. Instead, contact a reputable nonprofit credit counseling organization.
• § The Freddie Mac CreditSmart® curriculum is a  consumer guide to better credit, money management, and responsible homeownership. Visit FreddieMac.com/creditsmart to download  consumer resources, available in five languages.
• § To find a HUD-approved housing counseling agency near you, visit www.hud.gov or call 800-569-4287.

By understanding credit and credit evaluation systems, you’ll be on the right path to realizing your goals and making good decisions. Start now, and your good credit will give you a financial advantage with better loan terms, lower interest rates, and greater financial opportunities down the road, especially when you  want to buy a home.

• Remember that no credit score lasts forever. It changes over time, so you can improve it over time. Every time you make an on-time payment, lower a balance, or pay off debt, you add another entry to your credit