To have clients such as Reginald and Louise Bundy enroll in the AHCOPA First Time Homebuyer Program was a unique experience. Rarely do we experience senior citizen clients looking to purchase a new house. However, their request for counseling was to obtain one of the Ingersoll Commons properties located near 16th and Master in North Philadelphia. This house is an upgrade in comparison to their nearby row house and supports their ability to age in a place which includes a handicap ramp to enter the house, wide doors and an elevator.
When the Bundy’s began counseling, their major concern was whether their credit status would allow them to qualify for financing. After working with the counselors at AHCOPA, they felt comfortable and empowered. The counselors showed them how the credit system works and what they needed to do to qualify for a mortgage. Their counselor checked their credit standing and noticed missed payments were being reported on their car loan. The Bundy’s were adamant that no payments were missed. The counselor showed them how to dispute the error and helped draft a letter to the credit bureaus. Three months later, the error was corrected and Reggie’s median credit score increased by 50 points. This small correction meant that they could qualify for mortgage financing.
Their dream of purchasing one of the Ingersoll Commons units became more attainable. They imagined how the house would be furnished. In order to afford the property they made some adjustments and sacrifices to their budget. They agreed to let go of one of their cars to save on the cost of gas and insurance. A new house with all of their desired amenities was too good to pass up.
Now the fruit of their diligence and persistence is being realized. Purchasing the house has completely changed their lives. Following the settlement of the house, the Bundy’s slept better than they had in years. Congratulations to Reggie and Louise. Welcome home!