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Money Smart - A Financial Education Program

Spotlight On…Homeownership

Organization: Albany State University

Main Office: Albany, GA

Albany State University (ASU) facilitates the delivery of Money Smart to first-time homeowners and in support of micro-enterprises through its Regional Center for Entrepreneurship, Business and Workforce Development. It also utilizes Money Smart for Young Adults as a Continuing Education Community Outreach course, and is introducing the curriculum to local public high schools in Albany, Georgia.

ASU has trained over 120 staff and other partners to deliver the curriculum. After completing the Money Smart training for First Time Homebuyers, ten families purchased their first home. ASU also provided technical assistance that led to the creation of five new small businesses inside its incubator, in addition to four other businesses created outside the incubator partnership.

Organization: Pro-Home

Main Office: Taunton, MA

Pro-Home is located in Taunton, Massachusetts, and was formed for "the protection and production of affordable housing" and has been approved as a housing counseling agency by 3 major housing-related agencies: HUD, Citizens Housing and Planning Association (CHAPA), and the Mass. Housing Finance Agency (MassHousing).

Pro-Home has expanded its programs from pre-purchase housing counseling, to include post-purchase counseling, financial literacy education using the FDIC Money Smart curriculum, acquisition and rehabilitation of abandoned housing (housing development), and establishment and operation of a regional fair housing commission. Pro-Home conducts Money Smart courses for adult students and has expanded its Money Smart financial education program into an adjoining city.

Organization: Waco Community Development

Main Office: Waco, TX

Waco CDC serves Waco through the construction of housing, the provision of credit counseling and homebuyer education, and by connecting community groups to service opportunities. Waco CDC offers down-payment/closing costs assistance and Individual Development Accounts to people in their service area. Using the Money Smart curriculum, WCD has reached over 1,000 families with home ownership/financial education counseling. Since WCD broke ground on their first home in 2002, they have built 38 new homes, rehabilitated 13 others and aided 136 families in becoming home owners.

Organization: Texas Foreclosure Prevention Task Force

Main Office: Texas – Statewide

The Texas Foreclosure Prevention Task Force is a statewide network of individuals and organizations working collaboratively to avert home mortgage foreclosures and the impact of foreclosure on Texas families and communities. Assembled in 2007 by NeighborWorks America, the Task Force represents over 100 local, state, federal, nonprofit, private, public and philanthropic organizations along with lenders and servicing entities.

Drawing on resources from other states, the Task Force produced the Texas Foreclosure Intervention Resource Guide. The Guide, available in both English and Spanish, has been widely distributed across the State.

In Summer 2010, the Task Force, along with the FDIC, the Federal Reserve Bank of Dallas, the Texas State Affordable Housing Corporation and others sponsored two Loan Scam Community Summits, the first in Houston, the second in Dallas. The Summit highlighted the cost of foreclosure scams, the resources available to Texas homeowners facing foreclosure and a call to action to prevent further abuses.

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