HOMEWORKS WORKS!

In March Nashville Area Habitat for Humanity reported an all-time 24-year low mortgage delinquency rate of 1.59 percent. Just 30 days later, the agency has broken that record with an unprecedented .95 percent delinquency rate. There are only three late mortgage payments (30 days or less) out of 316 active mortgages.

This is a testament to the strength of our HomeWORKS education program, the agency’s delinquency committee, the finance department’s management of mortgage administration, and the dedication of Habitat partner families to keeping their payments current.

“This is a perfect illustration of the importance of education and accountability for first-time homebuyers,” said Nashville Area Habitat president and CEO Chris McCarthy. “All of our families go through months of one-on-one budget coaching and hours of classes that teach them about the responsibility of paying a mortgage and how to take care of their investment. I am so proud of our homeowners and our agency staff, volunteers and board members for this accomplishment. It shows that HomeWORKS works.”

HomeWORKS offers 3,500 hours of classes per year that provide the opportunity for families to learn new life skills. Course topics include financial management, legal aspects of homeownership, budgeting, responsible family and neighbor characteristics, homeowners’ association basics, the importance of having a will, and home maintenance and repair. The goal of HomeWORKS is to equip individuals and families to become more self-sufficient and create new opportunities for themselves. The program was established in early 2005 with a set of core classes and has grown to include electives as well as classes for children of Habitat families to share the responsibility of homeownership with the next generation.

“HomeWORKS is vital to our mission,” said McCarthy. “Along with the bricks and mortar associated with homeownership, these classes offer families the instruction and training to sustain a better life for the long term, not just for themselves but for their children.”