are elderly clients who came to their first counseling session in 2019 after attending a Solita’s House “First Time Homebuyer” class in Spanish. The clients had recently arrived in the United States from Cuba and wanted to achieve the American Dream of owning their own home.
The clients had no credit record are all and a very modest household income. Nevertheless, they did not give up on their homeownership goal and were assisted by developing their credit using Solita’s House’s Community Development Financial Institutions Fund and a Credit Builder Loan that was coupled with an Individual Development Account Program.
The clients made their payments on time and were able to create a credit record which then resulted in a successful credit card application with their credit union.
Mr. and Mrs. Yanez also applied successfully for the City’s Dare to Own the Dream Program but because of their low income, were not able to find a house to buy.
They did receive a substantial amount of money from the CDFI’s IDA Program which came in handy when they faced some health issues.
The clients stayed in communication with this counselor and also with Solita’s House employee Lourdes del Rio who informed the clients about a rental housing opportunity with the Renaissance Program which came at an opportune time as their rent was about to be increased substantially with an amount unattainable for the clients’ budget.
The clients were assisted in applying for the Renaissance Program and were soon accepted and were able to move in paying an amount of rent that is much lower than what they were previously paying.
© Florida Housing Counselor Network