OUR SERVICES

Housing counseling

HEA provides bilingual (English and Spanish) one-on-one pre-purchase and post-purchase housing counseling to residents of unincorporated Hillsborough County and to residents of the City of Tampa. However, plans are underway to expand our services during 2007 to surrounding counties.

First Time Homebuyer classes and certification

HEA certifies homebuyers who attend an eight (8) hour class as required by Hillsborough County or by the City of Tampa. HEA staff members who are HUD certified housing counselors teach the classes. Attendance Certification is required in order to receive down-payment assistance through both Hillsborough County and the City of Tampa programs as well as similar programs in surrounding counties. As a HUD certified housing counseling agency, classes are taught using NeighborWorks America curriculum and in conformance with those standards outlined by The National Industry Standards for Homeownership Education and Counseling.

Mortgage Foreclosure Prevention

A new component which is an expansion of our post-purchase classes has been initiated in 2008 in order to address the high demand for foreclosure counseling. This program will involve a multi-step process initiating with classes and then follow up with one-on-one counseling. Classes cover topics such as budget review, income vs. expenses, avoiding debt, use of credit cards, refinancing, equity stripping, basic maintenance tips for their home (AC, plumbing, electrical, roof, etc.), identifying and avoiding post purchasing predatory lenders and identifying reputable contractors. A list of and detailed information explaining key government agencies and programs to be used in case of emergency are provided. Sensitive topics such as foreclosure and how to avoid it and the importance of getting counseling as soon as a problem starts are also covered in these classes.

Development

HEA has become one of the most successful non-profit affordable housing developers in the area. We have entered into affordable housing development partnerships with public and private agencies to fulfill the affordable housing need within our communities. This is due to the high level of experience of our staff in residential lending and our seeking out, implementing and layering of subsidies to our buyers making our homes more affordable and better able to serve the low to moderate income buyer.

HEA is a Florida Housing Finance Corporation approved d eveloper in the State of Florida. HEA is also approved to deliver Homeownership Program Funding (HOPS) to qualified homebuyers for downpayment assistance. These State funds provide up to 25% of the purchase price for households under 80% of Area Media Income and up to 35% of purchase price for households under 50% Area Media Income, helping to bridge the gap between income and affordability.

With the successful completion in 2007 of Amber Place Subdivision, a 26 unit single family home subdivision in the Orient Park area, developed in conjunction with Hillsborough County’s Board of County Commissioners, HEA has created further affordable housing stock to low income buyers who would not have been able to purchase a home otherwise.

Furthermore, HEA has begun site development for El Capitan Crossings, a 44-unit townhome development in the Town & Country area, and will begin vertical construction in January, 2008. These units are designed for affordable housing ownership and will be sold with the layering of subsidies for buyers.

Community Lending

In 2005, HEA acquired American Liberty Funding, Inc., to serve as its formal community lending arm. American Liberty Funding, Inc. (ALF) has been in the residential mortgage industry since 1998 and brings vast experience, enabling ALF to expertly mentor and guide its clients through the complex mortgage lending process. ALF offers its clients extensive choices and access to affordable home loan programs while fully taking into account the client's financial and personal interests.

ALF's works primarily with first-time, low to moderate income homebuyers who after completing housing and credit counseling, are deemed mortgage-ready. These clients are predominantly minority families and individuals who, if not well informed, could easily fall prey to predatory lending practices. Because many of these clients speak English only as a second language they are also at a disadvantage when dealing with formal documentation that is provided only in English. In July, 2007, ALF was informed by HUD that it has had zero foreclosures since its inception.