Newark, OH – Congressman Patrick Tiberi (OH-12), Freddie Mac and Park National Bank have joined forces to announce the “Coming Home Initiative” that features Home Possible Mortgages and Get the Facts! homebuyer workshops in an effort to help military families in Licking County prepare for homeownership. Home Possible Mortgages are designed to assist first-time homebuyers, especially those with limited credit or downpayment savings.
The Licking County Coalition for Housing and the Licking County Veterans Service Commission will conduct the Freddie Mac created Get the Facts! workshops to members of the 17 Licking County veterans’ organizations, including the VFW, AMVETS, DAV and Vietnam Veterans of America.
Freddie Mac’s Home Possible suite of mortgages, offered locally by Park National Bank, could boost the home buying power of nearly 1.5 million members of the United States Army, Navy, Air Force, Marines, Coast Guard, National Guard and recent retirees. To qualify for Home Possible’s expanded benefits for the military, participants must be on active duty, in the reserves, or separated from their respective services by less than two years.
“Get the Facts! homebuyer workshops are a great tool to help potential homebuyers in Licking County buy their first homes and use the counseling they receive to stay in their homes,” said Congressman Tiberi, one of the House of Representatives most knowledgeable and active members on housing policy. “As a former realtor, I know that the valuable information this program will provide about responsible homebuying can make the difference in helping Newark military families achieve the American dream – owning a home of their own. The Licking County Coalition for Housing and the Licking County Veterans Service Commission’s outreach efforts will help attract hundreds of families to the Get the Facts! workshops where they will learn how to buy a home responsibly. I look forward to seeing first-hand the success of this initiative.”
The Get the Facts! workshops are designed to break down barriers of misinformation that prevent many individuals from considering homeownership. The workshops provide participants with straightforward information and advice about all aspects of homeownership, including costs associated with homebuying and credit history requirements. At the end of each workshop, it is hoped that participants will feel empowered, with a sense that they might be able to achieve the dream of homeownership.
“Knowing your options and working with experts you can trust are essential to achieving financial goals,” said C. Daniel DeLawder, chairman of Park National Bank. “We’re proud to do what we can to make our local veterans’ home-buying experience easier and successful. With more than 50 experienced home loan lenders in Licking County, and the efforts of local organizations, we hope to make this dream more accessible.”
“Thanks to Congressman Tiberi and Park National Bank, Freddie Mac is here today to help the men and women who serve in our nation’s armed forces enjoy the American Dream of homeownership,” said Craig Nickerson, vice president of Freddie Mac. “We are expanding Home Possible’s reach and fulfilling Freddie Mac’s mission to serve America’s borrowers by strengthening America’s mortgage market.”
Licking County Coalition for Housing Executive Director Deborah Tegtmeyer added, “We are pleased to have this opportunity to serve those Licking County veterans and military personnel who have served our country. We look forward to helping them successfully prepare for and invest in home ownership.”
The Get the Facts! workshops will begin in late January. For more information about attending a Get the Facts! workshop in Licking County, contact LCCH at (740) 345-1970 or the Licking County Veterans Service Commission at (740) 670-5430. AmeriCorps members serving in the Licking County Coalition for Housing’s Positive Balance program will teach some of the workshops.
Freddie Mac is a stockholder-owned corporation established by Congress in 1970 to support homeownership and rental housing. Freddie Mac purchases single-family and multifamily residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible more than 50 million times, ensuring financing for one in six homebuyers and more than four million renters.
