By: Eleanor Horvitz, Senior Accountant, NHS of Baltimore
I have been a part of NHS for 33 of its 35 year existence. My first two years were as a volunteer, the last 31 as an employee. I have watched NHS grow from a small staff of five in a building with a leaking roof, working in one neighborhood, to working in three- and then to expand to include the entire Baltimore metropolitan area.
There have been many different programs, staff have come and gone, offices have changed and our direction and mission have changed from time to time. As an accountant, I could site statistics and point out numbers, but that’s not really important. The one thing that has remained the same for not just me but for all the staff is the belief that our passion comes from helping our clients. I have had the privilege of meeting and working with the most amazing people. Here are a few of those stories.
One client of ours was an elderly woman who needed work done on her house. We were able to give her a loan to get all the work done. Every month she would faithfully come to the office to make her loan payment. After a number of years had past, she called the office with an urgent message. She was being taken to a nursing home and had no one to provide for her dog. Our secretary at that time went over to her house and rescued the dog. I still remember the woman’s name after all these years though I’m sure she has long since passed.
Of course, I will never forget Matilda Koval. Matilda helped to start NHS and died while serving NHS. She was a very strong, determined woman who was going to do everything she could to protect her neighborhood. She led her “Port Street” ladies to picket landlords. She searched through trash bags thrown out on lots and upon finding a name, returned the trash to the rightful owner, with admonishments about trash days. She worked constantly, attending meetings and addressing neighborhood issues. She stood alongside city hall officials and neighbors alike to address a problem. She was one great lady who is sorely missed.
Then there was Ruby Taylor, a retired high school biology teacher. She kept her block swept clean everyday, volunteered at the Aquarium, served on many committees and probably did a host of other things I will never know about. She was a quiet spoken woman. A wise woman.
Although we no longer focus on neighborhood issues, we are blessed as staff members to be able to guide and assist individuals with their dreams of homeownership and financial fitness. We have met people from all walks of life- bankers and corporate executives, teachers, clerks, retired and the newly unemployed. For me personally, the list is long of the people who have come into my life, shared a common experience, and gone on to new adventures and experiences.
Today, NHS continues to help people with programs like foreclosure prevention and mortgage refinancing, as well as our financial fitness classes and housing rehab needs. We will continue to experience the joy of helping someone to improve their living situation and are disappointed by setbacks. It is not easy work that we perform. Sometimes the paper maze is overwhelming but that’s when we need to sit back and reflect on all the people who believe in the work we do and what we have accomplished- in particular the people who have come into our lives and shared this experience with us.
Thursday, April 30, 2009
Tuesday, April 28, 2009
NHS of Baltimore’s Partnership with Park Heights Renaissance a Continual Success
By: Tanya Washington, Chief Operating Officer, NHS of Baltimore
The essence of any Neighborhood Housing Services of Baltimore program is partnership. Although working with other organizations is rarely simple and problem-free, pooling resources and services can be well worth the effort. Both small and large nonprofits have much to gain in designing program initiatives that draw on complementary strengths of collaboration.
As such, NHS of Baltimore has partnered with Park Heights Renaissance to provide Homebuyer Education, Financial Fitness and Post-Purchase counseling to residents in their targeted neighborhoods. Moreover, NHSB will host NeighborWorks Week; an event that brings residents and other stakeholders together to build a more livable and welcoming community. Our goal is to assist Park Heights Renaissance in making giant strides in strengthening home ownership levels to the point where, for the first time in two decades, the area has more potential buyers than there are houses for sale.
The priorities of engaging residents, developing an insular level of civic leadership and expanding community marketing efforts are all part of Park Height Renaissance’s objective in re-developing the area. These directives will point to the success of the area and how NHS’s model is used to highlight homeownership as the cornerstone for neighborhood revitalization and to a broader sense, show how we believe that revitalization goes beyond brick and mortar. As an organization, we measure success by change in the market, neighborhood image and quality of life for residents.
The essence of any Neighborhood Housing Services of Baltimore program is partnership. Although working with other organizations is rarely simple and problem-free, pooling resources and services can be well worth the effort. Both small and large nonprofits have much to gain in designing program initiatives that draw on complementary strengths of collaboration.
As such, NHS of Baltimore has partnered with Park Heights Renaissance to provide Homebuyer Education, Financial Fitness and Post-Purchase counseling to residents in their targeted neighborhoods. Moreover, NHSB will host NeighborWorks Week; an event that brings residents and other stakeholders together to build a more livable and welcoming community. Our goal is to assist Park Heights Renaissance in making giant strides in strengthening home ownership levels to the point where, for the first time in two decades, the area has more potential buyers than there are houses for sale.
The priorities of engaging residents, developing an insular level of civic leadership and expanding community marketing efforts are all part of Park Height Renaissance’s objective in re-developing the area. These directives will point to the success of the area and how NHS’s model is used to highlight homeownership as the cornerstone for neighborhood revitalization and to a broader sense, show how we believe that revitalization goes beyond brick and mortar. As an organization, we measure success by change in the market, neighborhood image and quality of life for residents.
Monday, April 27, 2009
Homeownership a Benefit, Not a Burden
By: Felix Torres Colon, Executive Director, NHS of Baltimore
Neighborhood Housing Services of Baltimore is committed to creating and sustaining homeownership opportunities for low-income families. We believe that homeownership makes families and communities stronger.
The current downturn has called the benefits of homeownership into question. Some of these arguments make sense, some don’t and some are made to score political points whether true or not.
This article is a good example:
Shelter, or burden? The Economist April 16,2009
It characterizes subprime mortgages as “…a financial instrument designed to spread home ownership among the poor”. This is absolutely false. These mortgages were designed to maximize profits for the lenders and investors. Most subprime loans were used for refinancing and had nothing to do with homeownership. NHS, along with every major counseling network opposed subprime lending and knew it would not help people become long-term homeowners.
The article labels one of the virtues of homeownership as “…a default mechanism for savings.” It then goes on to denigrate this virtue by offering alternatives that don’t exist or aren’t as attractive. It further goes on to argue that because of predatory and toxic loan products, homeownership is bad for saving. No, bad loan products are bad for savings and wealth accumulation. This is why you should come to NHS!
Finally, the article goes on to mention all the social benefits of homeownership. These are counter balanced by an argument that the author says “…remains controversial”.
Look we agree that homeownership isn’t for everyone and that it is not a guarantee to wealth and prosperity. However when a buyer is educated, makes smart choices, is financed with sustainable products and supported by agencies like the NHS, it is still a good thing for them and the community.
Neighborhood Housing Services of Baltimore is committed to creating and sustaining homeownership opportunities for low-income families. We believe that homeownership makes families and communities stronger.
The current downturn has called the benefits of homeownership into question. Some of these arguments make sense, some don’t and some are made to score political points whether true or not.
This article is a good example:
Shelter, or burden? The Economist April 16,2009
It characterizes subprime mortgages as “…a financial instrument designed to spread home ownership among the poor”. This is absolutely false. These mortgages were designed to maximize profits for the lenders and investors. Most subprime loans were used for refinancing and had nothing to do with homeownership. NHS, along with every major counseling network opposed subprime lending and knew it would not help people become long-term homeowners.
The article labels one of the virtues of homeownership as “…a default mechanism for savings.” It then goes on to denigrate this virtue by offering alternatives that don’t exist or aren’t as attractive. It further goes on to argue that because of predatory and toxic loan products, homeownership is bad for saving. No, bad loan products are bad for savings and wealth accumulation. This is why you should come to NHS!
Finally, the article goes on to mention all the social benefits of homeownership. These are counter balanced by an argument that the author says “…remains controversial”.
Look we agree that homeownership isn’t for everyone and that it is not a guarantee to wealth and prosperity. However when a buyer is educated, makes smart choices, is financed with sustainable products and supported by agencies like the NHS, it is still a good thing for them and the community.
Thursday, April 23, 2009
BHPC Foreclosure Prevention Forum a Huge Success for NHS and Partners
By: Jessica Schmidt, Philanthropy Manager, NHS of Baltimore
April 21st, 2009 was quite a sight to behold for anyone working in the housing industry in Baltimore. Housing counselors, lawyers, loan servicers, housing advocates and representatives from the City and State came together for a day long forum to discuss foreclosure prevention. Everyone had the same agenda- what can I do to make a difference? Panelists dealing in all aspects of the foreclosure crisis from front line housing counselors to code enforcement lawyers to members of the FDIC spoke on their experiences and what they see going forward. The forum was an opportunity for everyone working to prevent foreclosures and preserve neighborhoods to have a discussion with their fellow practitioners learning from their successes and downfalls.
The forum was an excellent example of what is needed to solve this crisis, one group cannot do it alone and they shouldn’t be expected to. This is a complicated crisis with long-term consequences that need to be addressed from all sides.
Discussions like the ones that went on Tuesday need to be held to ensure that we are all reading from the same script. Obviously each group has a specific problem to focus on, from dealing directly with homeowners to crafting new legislation, but if we don’t step back every once and awhile and look at the big picture we could be wasting efforts. In these economic times everyone and every organization needs to focus on efficiency and maximizing their efforts.
Meetings such as the forum allow practitioners to do just that, it allows them to talk to others in the field, learn what works and what doesn’t, learn what programs they offer to send clients to, and to learn how we can all work together to make a difference.
Times are tough in Baltimore, but meetings like the Baltimore Homeownership Preservation Coalition’s community forum remind us that we are all in this together and many people are working very hard to find solutions and progress is being made. Keep up the good work Baltimore.
To learn more about this year's forum please visit, http://www.preservehomeownership.org/
April 21st, 2009 was quite a sight to behold for anyone working in the housing industry in Baltimore. Housing counselors, lawyers, loan servicers, housing advocates and representatives from the City and State came together for a day long forum to discuss foreclosure prevention. Everyone had the same agenda- what can I do to make a difference? Panelists dealing in all aspects of the foreclosure crisis from front line housing counselors to code enforcement lawyers to members of the FDIC spoke on their experiences and what they see going forward. The forum was an opportunity for everyone working to prevent foreclosures and preserve neighborhoods to have a discussion with their fellow practitioners learning from their successes and downfalls.
The forum was an excellent example of what is needed to solve this crisis, one group cannot do it alone and they shouldn’t be expected to. This is a complicated crisis with long-term consequences that need to be addressed from all sides.
Discussions like the ones that went on Tuesday need to be held to ensure that we are all reading from the same script. Obviously each group has a specific problem to focus on, from dealing directly with homeowners to crafting new legislation, but if we don’t step back every once and awhile and look at the big picture we could be wasting efforts. In these economic times everyone and every organization needs to focus on efficiency and maximizing their efforts.
Meetings such as the forum allow practitioners to do just that, it allows them to talk to others in the field, learn what works and what doesn’t, learn what programs they offer to send clients to, and to learn how we can all work together to make a difference.
Times are tough in Baltimore, but meetings like the Baltimore Homeownership Preservation Coalition’s community forum remind us that we are all in this together and many people are working very hard to find solutions and progress is being made. Keep up the good work Baltimore.
To learn more about this year's forum please visit, http://www.preservehomeownership.org/
Monday, April 20, 2009
How to Decorate Your Home on a Tight Budget
By: Shaneece Hudson, Homeownership Adviser, NHS of Baltimore
When the seasons change I often get the itch to change my home décor as well. This can be a very exciting project and you can do it all on a tight budget.
First, evaluate the items you already own. Is it time for that old table to go good bye? Or can I be used to enhance another room in the house. Can it be painted to match the color scheme you are going for? Or can it be polished to look brand new again? Consider painting your picture frames and buy new posters and put them in the newly painted frames. Think about changing your lamp shades. Buy fake flowers or candles to accent shelves and tables. Add different lighting whether it be new lamps or Christmas lights to the frame of the room or a tree.
Decorating can bring out the creative side in you. This is a time to have fun and allow your space to represent who you are.
I want a new sofa sooo bad but I can’t afford it right now. After looking in several stores a sofa cover can cost between $70-$100 so I have decided to be creative and make my own sofa cover. You can take a solid sheet, drape it right, and bam it changes everything. If you feel really motivated you can go to you local craft store buy fabric measure the sofa and sew your own sofa cover. You can also make cases for the accent pillows as well.
While at the craft store you can buy fabric to change your drapes and curtains. Don’t be afraid to add color and spunk to each room. You can even have a theme or color scheme for each part of the house.
If you are not crafty and prefer to buy, shop for bargains. I tell everyone clearance racks are your best friends. You never know what you may find. Go to thrift stores. When in Goodwill and Salvation Army I never have a specific item that I’m looking for I just know it when I find it. Look for items that inspire you.
Most of all have fun and don’t be afraid to try new things. You never know what you may come across.
When the seasons change I often get the itch to change my home décor as well. This can be a very exciting project and you can do it all on a tight budget.
First, evaluate the items you already own. Is it time for that old table to go good bye? Or can I be used to enhance another room in the house. Can it be painted to match the color scheme you are going for? Or can it be polished to look brand new again? Consider painting your picture frames and buy new posters and put them in the newly painted frames. Think about changing your lamp shades. Buy fake flowers or candles to accent shelves and tables. Add different lighting whether it be new lamps or Christmas lights to the frame of the room or a tree.
Decorating can bring out the creative side in you. This is a time to have fun and allow your space to represent who you are.
I want a new sofa sooo bad but I can’t afford it right now. After looking in several stores a sofa cover can cost between $70-$100 so I have decided to be creative and make my own sofa cover. You can take a solid sheet, drape it right, and bam it changes everything. If you feel really motivated you can go to you local craft store buy fabric measure the sofa and sew your own sofa cover. You can also make cases for the accent pillows as well.
While at the craft store you can buy fabric to change your drapes and curtains. Don’t be afraid to add color and spunk to each room. You can even have a theme or color scheme for each part of the house.
If you are not crafty and prefer to buy, shop for bargains. I tell everyone clearance racks are your best friends. You never know what you may find. Go to thrift stores. When in Goodwill and Salvation Army I never have a specific item that I’m looking for I just know it when I find it. Look for items that inspire you.
Most of all have fun and don’t be afraid to try new things. You never know what you may come across.
Thursday, April 16, 2009
Spring Cleaning: Prepare Your Home for Summer
By: Alicia Schuller, Marketing Coordinator, NHS of Baltimore
It seems as though summer will never arrive with all of the rain and cold we have had over the past few days. However the old adage, 'April showers bring May flowers', reminds us that if we can just endure it a little longer, summer will be here shortly. And if the rest of you are like me, you have been procrastinating with your spring cleaning and summer house prep. What are you waiting for? Stop wasting time and get a jump start on it so you don't get left behind in the summer heat. Here are a few things to start with.
Remove all of your storm windows and replace them with screens. Not only will this prepare your home for warmer weather, it also provides the opportunity to wash those windows and get them sparkling again, offering a fresh and renewed look to the house. Remember to store your storm windows some place safe and out of the way and consider washing them too so they are prepared for next winter.
Don't forget to reverse the spin of your ceiling fan! If you have ceiling fans and you are a savvy energy saver, then you know the importance of running those fans to create an updraft in the winter to recycle warm air back into the room. However, if you forget to reverse the flow of the fan once warmer weather rolls around, your efforts will be counter productive. During summer months, you want the fan to create a down draft so that cooler air is blown downward. The direction the fan should spin to create this effect depends on your specific fan and the angle which the blades are set.
Turn off your furnace and flip switches (if applicable) over to the air conditioner. Don't forget to uncover your air conditioner if needed and be sure to have it inspected to ensure proper operation and efficiency. Replacing the filter on your air conditioner will also cut down on allergens an ensure efficiency.
Open up room(s) you do not normally use or heat in the winter and let them air out. Take the time to clean these rooms thoroughly by vacuuming, dusting and washing all linens and curtains. This will cut down on allergens and dust particles.
Lastly... the fun stuff
Hook up your hoses, tune up your lawn mower and clean and tune your grill! Be sure to do a test run with both your lawn mower and grill, long before you will need too use them. If you have a propane grill, have the tank inspected and re-filled before lighting it.
It seems as though summer will never arrive with all of the rain and cold we have had over the past few days. However the old adage, 'April showers bring May flowers', reminds us that if we can just endure it a little longer, summer will be here shortly. And if the rest of you are like me, you have been procrastinating with your spring cleaning and summer house prep. What are you waiting for? Stop wasting time and get a jump start on it so you don't get left behind in the summer heat. Here are a few things to start with.
Remove all of your storm windows and replace them with screens. Not only will this prepare your home for warmer weather, it also provides the opportunity to wash those windows and get them sparkling again, offering a fresh and renewed look to the house. Remember to store your storm windows some place safe and out of the way and consider washing them too so they are prepared for next winter.
Don't forget to reverse the spin of your ceiling fan! If you have ceiling fans and you are a savvy energy saver, then you know the importance of running those fans to create an updraft in the winter to recycle warm air back into the room. However, if you forget to reverse the flow of the fan once warmer weather rolls around, your efforts will be counter productive. During summer months, you want the fan to create a down draft so that cooler air is blown downward. The direction the fan should spin to create this effect depends on your specific fan and the angle which the blades are set.
Turn off your furnace and flip switches (if applicable) over to the air conditioner. Don't forget to uncover your air conditioner if needed and be sure to have it inspected to ensure proper operation and efficiency. Replacing the filter on your air conditioner will also cut down on allergens an ensure efficiency.
Open up room(s) you do not normally use or heat in the winter and let them air out. Take the time to clean these rooms thoroughly by vacuuming, dusting and washing all linens and curtains. This will cut down on allergens and dust particles.
Lastly... the fun stuff
Hook up your hoses, tune up your lawn mower and clean and tune your grill! Be sure to do a test run with both your lawn mower and grill, long before you will need too use them. If you have a propane grill, have the tank inspected and re-filled before lighting it.
Thursday, April 9, 2009
$8,000 Tax Credit a Better Solution Than Previous $7,500 Attempt By Congress
By: Alicia Schuller, Marketing Coordinator, NHS of Baltimore
This last Monday, NHS of Baltimore attended a press conference hosted by Senator Ben Cardin's office, which focused on getting the word out about the new $8,000 tax credit available to first-time homeowners. Unlike the previous $7,500 tax credit offered by Congress, which amounted to an interest free loan that had to be paid back over time, the new tax credit will be completely forgiven once the homeowner has lived in the home for three years.
Cardin made it clear how important it is to buy a home right now, not only because it will help jump start the economy again, but because housing prices are so cheap. "We are encouraging people to take advantage of the new $8,000 tax credit, but they need to do it by November, when the provision expires," Cardin said.
NHS of Baltimore also wants to encourage first-time homeowners to consider buying now and to consider seeking lending and counseling help from a HUD certified nonprofit. We offer low interest mortgage options that are flexible on credit scores and require a low down payment. NHS of Baltimore can also help homeowners secure down payment and closing cost assistance from a grant program offered by the state. Most importantly however, we require our homeowners to successfully complete our homebuyer education course and sit down for one-on-one counseling with one of our homeownership advisers. NHS of Baltimore's goal is to empower the homeowner, so that they may achieve a lifetime of successful homeownership.
What are you waiting for? Get out there and take advantage of the new tax credit while it's available!
This last Monday, NHS of Baltimore attended a press conference hosted by Senator Ben Cardin's office, which focused on getting the word out about the new $8,000 tax credit available to first-time homeowners. Unlike the previous $7,500 tax credit offered by Congress, which amounted to an interest free loan that had to be paid back over time, the new tax credit will be completely forgiven once the homeowner has lived in the home for three years.
Cardin made it clear how important it is to buy a home right now, not only because it will help jump start the economy again, but because housing prices are so cheap. "We are encouraging people to take advantage of the new $8,000 tax credit, but they need to do it by November, when the provision expires," Cardin said.
NHS of Baltimore also wants to encourage first-time homeowners to consider buying now and to consider seeking lending and counseling help from a HUD certified nonprofit. We offer low interest mortgage options that are flexible on credit scores and require a low down payment. NHS of Baltimore can also help homeowners secure down payment and closing cost assistance from a grant program offered by the state. Most importantly however, we require our homeowners to successfully complete our homebuyer education course and sit down for one-on-one counseling with one of our homeownership advisers. NHS of Baltimore's goal is to empower the homeowner, so that they may achieve a lifetime of successful homeownership.
What are you waiting for? Get out there and take advantage of the new tax credit while it's available!
Wednesday, April 1, 2009
5 Things You Must Absolutely Know and Do Before Buying a Home
By: Alicia Schuller, Marketing Coordinator, NHS of Baltimore
1. Are you able to stay in one place for an extended period of time? When you are thinking about buying a home, you should consider your ability to stay in and commit to an area. If you are the type that moves around a lot due to your job or because you like to change up the scenery, buying a home may not be right for you.
2. Know our credit score and reconcile any blemishes on it before pursuing a mortgage. Your income and credit are the largest factors a lender takes into consideration when deciding to offer you a mortgage and how much to lend to you. It is up to you to be completely aware of your credit history and score so that you can start the process confident and knowledgeable about where you are headed in the future. Lenders look at four things when considering your mortgage application: the “four C’s of credit”. Capital, Capacity, Credit History and Collateral. Capital is the amount of money you have to put forth for the down payment and closing costs, as well as how much you have saved to pay for unexpected expenses. Capacity is your ability to pay your monthly mortgage payments on time, along with all of the other bills you are responsible for. Credit History refers to how much money you owe to others, how often you use credit, and if you pay your bills on time. Lastly, your Collateral is the house itself; it provides security for the loan. Being aware of your "four C’s" will put you far ahead of the game, and empower you to take charge of your future.
3. Know what you can afford! The current housing crisis reminds us of the importance of knowing how much of a house you can afford. Obtaining a mortgage you can afford is not about finding the home of your dreams and figuring out ways to qualify for the loan, but rather, it is about understanding what you can afford and pursuing a home that is within your price range. If you have good credit, a steady income and do not owe a lot of money, a good rule of thumb is to look for a home that is no more than 2 ½ to 3 times the amount of your annual income. Any more than that and you could find yourself in trouble in the future. Get pre-approved. This way, you’ll know what you are working with right from the start.
4. Seek professional help and advice. As a first-time homebuyer, it is easy to become overwhelmed with information and to feel rushed through the process. You want to make sure you get the best mortgage rates possible, with terms and conditions you can handle so you can be a successful homeowner. Therefore, NHS of Baltimore suggests that you seek step-by-step help from a professional who knows the lending market and can advise you on the best decisions to make. There are dozens of nonprofits in the Baltimore area that offer free counseling and advise (including us), and they always have your best interest in mind. Don’t pay for this advise when you can get it for free!
5. Hire your own professional home inspector and do your homework! Although the bank will require a professional appraisal of the house anyway, you should take it upon yourself to go a step further. Hire a professional who has experience in doing home surveys. They should be able to let you know of any problems that exist with the house before you buy it. If something significant is found through his/her inspection, you can use this to leverage the price down, or you may decide not to buy the home altogether. Either way, know what you are buying. You have to live there for a long time.
Once you have shored these 5 things, you will be well on your way to becoming a successful homeowner.
1. Are you able to stay in one place for an extended period of time? When you are thinking about buying a home, you should consider your ability to stay in and commit to an area. If you are the type that moves around a lot due to your job or because you like to change up the scenery, buying a home may not be right for you.
2. Know our credit score and reconcile any blemishes on it before pursuing a mortgage. Your income and credit are the largest factors a lender takes into consideration when deciding to offer you a mortgage and how much to lend to you. It is up to you to be completely aware of your credit history and score so that you can start the process confident and knowledgeable about where you are headed in the future. Lenders look at four things when considering your mortgage application: the “four C’s of credit”. Capital, Capacity, Credit History and Collateral. Capital is the amount of money you have to put forth for the down payment and closing costs, as well as how much you have saved to pay for unexpected expenses. Capacity is your ability to pay your monthly mortgage payments on time, along with all of the other bills you are responsible for. Credit History refers to how much money you owe to others, how often you use credit, and if you pay your bills on time. Lastly, your Collateral is the house itself; it provides security for the loan. Being aware of your "four C’s" will put you far ahead of the game, and empower you to take charge of your future.
3. Know what you can afford! The current housing crisis reminds us of the importance of knowing how much of a house you can afford. Obtaining a mortgage you can afford is not about finding the home of your dreams and figuring out ways to qualify for the loan, but rather, it is about understanding what you can afford and pursuing a home that is within your price range. If you have good credit, a steady income and do not owe a lot of money, a good rule of thumb is to look for a home that is no more than 2 ½ to 3 times the amount of your annual income. Any more than that and you could find yourself in trouble in the future. Get pre-approved. This way, you’ll know what you are working with right from the start.
4. Seek professional help and advice. As a first-time homebuyer, it is easy to become overwhelmed with information and to feel rushed through the process. You want to make sure you get the best mortgage rates possible, with terms and conditions you can handle so you can be a successful homeowner. Therefore, NHS of Baltimore suggests that you seek step-by-step help from a professional who knows the lending market and can advise you on the best decisions to make. There are dozens of nonprofits in the Baltimore area that offer free counseling and advise (including us), and they always have your best interest in mind. Don’t pay for this advise when you can get it for free!
5. Hire your own professional home inspector and do your homework! Although the bank will require a professional appraisal of the house anyway, you should take it upon yourself to go a step further. Hire a professional who has experience in doing home surveys. They should be able to let you know of any problems that exist with the house before you buy it. If something significant is found through his/her inspection, you can use this to leverage the price down, or you may decide not to buy the home altogether. Either way, know what you are buying. You have to live there for a long time.
Once you have shored these 5 things, you will be well on your way to becoming a successful homeowner.
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