Celebrate Homeownership Month With Us!

The Minnesota Homeownership Center and the Homeownership Advisors Network are partnering with Minnesota Housing, MN Association of Realtors®, USDA Rural Development and the Minnesota Department of Commerce to promote homeownership and stabilize Minnesota’s neighborhoods by sponsoring homebuyer education in June.

In celebration of Homeownership Month in June, the Center is pleased to announce the availability of free homebuyer education.   This opportunity is available thanks to the generous support of several public and industry partners.

Quality homebuyer education is the foundation of successful homeownership and is key to stabilizing Minnesota’s neighborhoods.  A recent study conducted by Neil Mayer & Associates and the credit bureau Experian found that homeowners that receive pre-purchase education and counseling services are 30% less likely to become seriously delinquent on their mortgage in the first two years after closing.

In Minnesota, homebuyer education is available online and in-person.  Both courses include an in-depth understanding of the homebuying process, how to choose the right home, the importance of credit and good financial management, how a lender determines how much to lend, the importance of working with a real estate professional and the buyer’s rights and responsibilities once they become an owner.

Free in-person Home Stretch Workshops are available at participating locations throughout the state from June 22-29.

Framework, the most comprehensive online homebuyer education course available, will also be free to the first 100 customers who sign-up and use the special coupon code: MNPROMO13 

Fifth Annual EMHI Summit - Registration Open

Exciting Changes This Year!

You're invited to join us for the 5th Annual Emerging Markets Homeownership Initiative Summit on Wednesday, December 7, 2011!

This year’s annual Summit reflects the dynamic field by hosting a variety of rapid learning stations for participants to gain valuable knowledge through several 15-minute sessions. We hope our new format for the event will make you better prepared to seize opportunities and confront challenges surrounding homeownership for emerging markets.

This year’s event will be fast-paced and informative for professionals looking for insight into the current status of emerging market homeownership in the State of Minnesota.


The morning session will begin with a keynote address from Dorothy Bridges, recently-appointed Vice President of Community Development and Outreach at the Federal Reserve Bank of Minneapolis. 


Following the address, Summit participants will have the opportunity to rotate among various rapid learning stations hosted by leaders in the emerging market homeownership arena to get a snapshot of current issues and trends facing the industry. Stations will also be a time for participants to ask questions and gain best practice tips from leaders and colleagues in the profession. Some learning station topics include:

• Financial Literacy,
• Housing and Transportation Corridor Issues,
• Minnesota Housing and Bond Programs, 
• Federal Housing Administration,
• Demographics,
• And MANY more!

3.5 hours of Real Estate CEU credits have been applied for. 

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Want to dig deeper into homeownership and emerging markets issues? 


This year we are also pleased to announce an optional afternoon session! We have invited Susan Didier, President of Thompson Associates, to teach her newly-developed course for the Minnesota Association of REALTORS® entitled, Emerging Markets: The New-American Homebuyer.  Her course covers everything from cultural diversity issues such as language barriers and cultural values to explaining real estate in the real world, which highlights topics such as buyer readiness and special first-time homebuyer products. This afternoon course counts towards 3.75 hours of CEU credits. 


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Last year's Summit sold out so register early!

http://emhisummit2011.eventbrite.com/

Realtor Training Opportunity!

Minneapolis Entry Cost / Down Payment & Affordable Loan Product Training
Thursday, June 10th, 2010

 
The MN Home Ownership Center, in partnership with the Minnesota Association of Realtors®, the City of Minneapolis, Freddie Mac and LiveMSP, is hosting a training on the recently developed tools offering comprehensive information about entry cost (down payment) and affordable loan programs available to buyers in the City of Minneapolis.

As Minnesota begins to recover from the recent foreclosure crisis, municipalities, lenders, non-profits, and others have developed programs designed to promote homeownership. This proliferation of programs has led to confusion among industry professionals asthey attempt to keep current on optimum opportunities for their clients.

Two sessions are available, and each 90-minute session will include:

• Details about accessing and using the MN Home Ownership Center’s Entry Cost Assistance Matrix, including a panel of speakers highlighting some of the most frequently used programs. The Neighborhood Stabilization Program will be featured.
• Information about accessing and using the MN Home Ownership Center’s Affordable Loan Product Matrix. Recently released to the public for the first time, the matrix includes valuable information about first-time homebuyer and other affordable loan programs. Lending representatives will be on hand to discuss their programs.

BEST OF ALL - - THIS TRAINING IS FREE! And CEU Credits have been applied for.

Space is limited and registration is required.  You can learn more and register online here.

TWO SESSIONS OF THIS TRAINING ARE AVAILABLE:
(The same information is repeated in both sessions)

1. Morning Session . . . . . . . . . . 6/10/2010  -  10:00 - 11:30am
2. Afternoon Session . . . . . . . . . 6/10/2010  -  1:00 - 2:30pm

There's also an opportunity to join us in networking lunch ($10.00, includes lunch) that will be held between the sessions (11:30am - 1:00pm). 

Space is LIMITED... learn more here.

Foreclosure Prevention in SE MN

As many of you are aware, the Minnesota Home Ownership Center has teamed up with the SE Minnesota Association of Realtors® to offer a FREE foreclosure training workshop to provide information to professionals on how to help struggling homeowners:

Thursday, March 04 ………. 11:00 AM - 12:30 PM
Ramada Hotel & Conference Center,
Rochester, Minnesota
RSVP Required: here

The training will provide an overview of the foreclosure process, where to refer homeowners and how to prepare them to talk with a housing counselor or loan servicer as well as information on national assistance programs like Making Home Affordable.

The training is specifically designed for staff from public, private, and non-profit organizations that work with struggling homeowners – but who do not normally work with mortgage foreclosure as part of their job.  For more information, or to register, click here.


EVENT WILL BE WEB-STREAMED LIVE!
Space at the event is limited... however, due to the amazing response we've received (over 150 people have already registered!)... the SE Minnesota Association of Realtors® will be offering a LIVE WEBSTREAM of the workshop!  Watch the web stream (on March 4th) here.


If you weren't aware of the workshop... it might be because you haven't signed up for our bi-weekly electronic newsletter.  You can subscribe to the newsletter here.

Entry Cost Assistance Matrix Released

The Minnesota Home Ownership Center is pleased to announce the release of its much-anticipated "Entry Cost Matrix". The Matrix outlines down-payment and entry cost assistance programs that are available to residents of the state of Minnesota. The Center would like to thank the Minnesota Assocation of Realtors for their financial support of the creation of the Matrix.

While the Matrix is available to anyone... we recommend that if you're thinking of purchasing your first home in Minnesota - and are looking for down-payment help or entry cost assistance, that you speak with a certified Home Stretch (pre-purchase) counselor. Remember, homeownership is a HUGE undertaking.

The Matrix is organized geographically, which allows readers to quickly find the area of the state that they are most interested in.

Funding for down-payment assistance and entry-cost help is FLUID. The information may change. Please contact a program adminstrator to see if funds are available, and, if not, if there is a waiting list for access to the funds.

OUR ASK OF YOU: If you are aware of an error on the Matrix... or if you know of any additional programs, funds or assistance that are NOT included in the Matrix, please contact the MN Home Ownership Center with that information. Together we can help break down the barriers to first-time home ownership!

The Matrix can be downloaded here.

Third Annual EMHI Summit

New This Year: Entry-Cost Assistance Training!

The Minnesota Home Ownership Center is pleased to announce that the 2009 Emerging Markets Home Ownership Initiative (EMHI) summit has been scheduled for November 9th, 2009 at the Continuing Education and Conference Center on the University of MN Campus.

The Third Annual EMHI Summit, and the first since the MN Home Ownership Center adopted EMHI programming earlier this year, is a hallmark of the Center’s dedication to the EMHI mission of working to promote homeownership parity by leading and convening industry and community stakeholders to develop tools, resources, and best practices to increase homeownership opportunity for Minnesota’s emerging markets.

The event is designed primarily for realtors, lenders, non-profits, elected officials, and others working in the homeownership arena. The agenda will include:

• Keynote address from St. Paul City Council Member Melvin Carter III and State Representative Jeff Hayden. They’ll discuss the impact of homeownership on their constituency base and address public policy topics that support EMHI’s mission.
• Michael Grover, community affairs manager from the Federal Reserve Bank of Minneapolis, and John Patterson, director of research and evaluation at Minnesota Housing, will provide a comprehensive analysis of the current status of emerging marketing homeownership in Minnesota using the soon to be released American Community Survey data. A traditional part of the EMHI Summit, this presentation will offer thought-provoking insight into the status of emerging markets homeownership and how the current environment has impacted efforts.
• Representatives from the industry, including Michael Haley, Assistant Commissioner of Minnesota Housing; Teddy Bagley, Affordable Housing Manager for Guaranteed Rate; Umbelina Cremer, Emerging Markets Officer for Achieve Homeownership; and Kim Quayson of MidCountry Mortgage. Panelists will offer practical insights into how their organizations have successfully emerging market homebuyers and the lessons they’ve learned.
• Jacqueline King, Assistant Vice President and Community Affairs Officer at the Federal Reserve Bank of Minneapolis and founding board member of the Emerging Markets Homeownership Initiative, will close the agenda with a call to action and partnership to the industry to continue striving for EMHI’s mission.

CEU credits have been applied for.

To register, or for more information, click here.

Premiere training: taking the confusion out of entry cost assistance programs and affordable loan products

Following the EMHI Summit and a networking lunch on November 9th, the MN Home Ownership Center, in partnership with the Minnesota Association of Realtors, will be hosting a training and unveiling newly developed tools offering comprehensive information about entry cost and affordable loan programs throughout the state. As Minnesota begins to recover from the recent foreclosure crisis, municipalities, lenders, non-profits, and others have developed programs designed to promote homeownership. This proliferation of programs has led to confusion among industry professionals at they attempt to keep current on optimum opportunities for their clients.

This 3-hour training session will include:

• Details about accessing and using the MN Home Ownership Center’s brand new Entry Cost Assistance Matrix, including a panel of speakers highlighting some of the most frequently used programs in the state. Neighborhood Stabilization Programs will be featured.
• Information about accessing and using the MN Home Ownership Center’s Affordable Loan Product Matrix. Recently released to the public for the first time, the matrix includes valuable information about first-time homebuyer and other affordable loan programs. Lending representatives will be on hand to discuss their programs.
• The Entry Cost Assistance Matrix and Affordable Loan Product Matrix are is the first of their kind in Minnesota and highlight the Center’s commitment to working in partnership with Realtors®, lenders and other professionals to enhance home buying for Minnesotans.

Space is limited and registration is required.

CEU credits have been applied for the afternoon session as well.

To register, or for more information, click here.

Homebuyer Tax Credit - What's Up?

Here at the MN Home Ownership Center, we've received lots of questions regarding the proposed Home Buyers Tax Credit in the current Federal Stimulus Bill. We'd like to remind our readers that at this point in time, the Stimulus Bill is still a work-in-progress - - - and lots of things could change between now and when President Obama signs the Stimulus Bill into law.

The Minnesota Association of Realtors has put together a short fact-sheet that outlines the current Home Buyers Tax Credit (Signed into law in 2008) with both the House and Senate versions of the Bill. To view their fact sheet, click here.

Is now the right time to buy a home? Will you be able to take advantage of the Home Buyers Tax Credit if you purchase in 2009? Are there other programs (down-payment, entry costs, reduced interest rates, etc.) that might help YOU purchase your first home?

The Minnesota Home Ownership Center's HOME STRETCH Counselors can set up an appointment to discuss if NOW is the right time for YOU to begin your home buying process.