The “American Dream” has always involved the pursuit of homeownership, yet for some, it’s a financial nightmare.
A new program intended to help people not only purchase a new home, but keep it out of foreclosure, will kick off Saturday in downtown Hagerstown.
YOUR P.A.T.H. (Professional Advancement To Homeownership) will launch with a free seminar to educate prospective homeowners and investors on the benefits of enrolling in the year-long program.
“The program is to help people find their path to homeownership,” said Jennifer Ward, a local financial coach. “… I think we’ve all seen people go into homeownership that are unaware of what the costs are, and they end up losing their home. … We want to help them stay secure in their home.”
Ward is part of YOUR P.A.T.H. LLC, an eight-member group of mortgage lenders, investors, real estate agents and financial experts that will help people enrolled in the program save for a down payment, repair their credit and purchase a home.
The cost of the program is $1,100.
“There is no cost for (Saturday’s) seminar,” Ward said. “It’s for people to come and learn about the program.”
Managing finances is a big part of the series.
“The eight of us will be doing credit repair and financial coaching,” Ward said. “The main part is to help people get their finances under control so they can buy a home.”
The financial experts will also coach and assist people currently going through the process of buying a home.
“We actually work closely with them,” Ward said. “Our target audience is someone on the cusp of wanting to buy a home. We walk with them throughout the process.”
The goal of YOUR P.A.T.H. LLC is also to strengthen communities by reducing the number of foreclosures in the Tri-State area. Once the new homeowner is settled in, the financial experts continue to help with money management.
“While the housing market is great, we’re still dealing with people losing their homes, because they were unaware of all the costs,” Ward said.