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Local Agency Works to Connect First Time Homeowners With Lenders.

Local Agency Works to Connect First Time Homeowners With Lenders.

6 months, 1 week ago by Jim Dewey

Northeast Community Action Corporation is teaming up with banks to strengthen home ownership rates in the Tri-State area.

NECAC will provide comprehensive training for first time home owners and work directly with banks in making sure more people are prepared for home ownership and avoid defaults. NECAC Home Ownership Programs Director Marsha Signoracci says the agency offers home ownership classes that can prepare participants on subjects such as financing, obstacles to home ownership, record-keeping, understanding credit, cash flow, getting a loan, taxes and other topics. "It copvers everything from A to Z regarding buying a home," Signoracci says. Necac helps the first time buyers go through the process to the point where they are ready to buy a home.

Signaracci points out that a home purchase is one of the biggest expenses many people will ever have, but it’s the one they often know the least about. She says for the banks, "It is a great opportunity for them to get their first time home buyers in a situation where they are ready to buy." She says "Sometimes they come in and they are not really sure and they walk out that door , and they never see those people again."

The goal is to sign up 50 banks. Mercantile Bank of Palmyra is the first to join.

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