TRIP & RCHR Program Profile: Homebuyer Incentive Program

Providing first-time homebuyers with opportunities for success is the backbone of the TRIP NeighborWorks HomeOwnership Center, and the foundation of the Homebuyer Incentive Program (HIP). HIP funding, administered through the City of Troy, is available to first-time homebuyers with an annual household income at or below 80% of the area median income (which is $62,500 for a family of four) and can provide eligible applicants with either $15,000 or $20,000.

To qualify for a HIP grant, applicants must be looking to purchase a one or two family house in the City of Troy. Funds can be used towards down payments, closing costs, and/or to make up any difference between the purchase price and the sale price that would be affordable for the homebuyer. If HIP sounds like a program that you or someone you know might be interested in, the first step is to attend a Homebuyer Orientation session. A schedule of upcoming workshops can be found at  http://www.triponline.org. 

More information about HIP can also be found at  http://www.triponline.org/buy/down_payment_closing.html#HIP.

HomeOwnership Center Luncheon a Success!

On Thursday, May 17th, the TRIP NeighborWorks HomeOwnership Center hosted its 9th annual HomeOwnership Center Luncheon. This year's theme was "Homebuying-- Now's the Time, Join the Team." Attendees included supporters of the HomeOwnership Center, local realtors, and elected officials.

Welcoming guests was the Honorable Steve McLaughlin of the 108th NYS Assembly District. Doug Dylla , a national homeownership consultant, provided information about national trends, including a pent-up demand for home purchases particularly among first-time homebuyers, the demographics of future homeownership markets, the challenges facing today's buyers, and how strong partnerships between lenders, realtors, government, and not-for-profits such as TRIP's HomeOwnership Center can best help homebuyers reach their goals.

TRIP Board President Joseph Fleming and Doug Dylla
at the 2012 TRIP HomeOwnership Center Luncheon

Paul Semanek, past president of the Greater Capital Association of Realtors, spoke about local trends and the current state of homebuying in Rensselaer County. He also endorsed pre-purchase education such as that offered at TRIP's HOC to create prepared, informed, and ready buyers.

TRIP Executive Director, Patrick Madden, and Bobbi Carter, Director of TRIP's HomeOwnership Center, provided data about the outcomes of our work and the subsequent local economic impact. The 2012 donors of our HomeOwnership were thanked and new partners were warmly greeted. Thank you to everyone who atteneded; we look forward to seeing you again next year!

Full-Time Americorps*VISTA Positions Available, November 2012 - November 2013

TRIP is seeking two motivated and energetic people to provide a year of service through Americorps*VISTA (Volunteers in Service to America) in the following areas:

Resident Engagement Volunteer -- primary responsibilities include: establishing and overseeing a youth coalition promoting community involvement and healthy neighborhoods, developing sustainable systems to engage TRIP tenants and their children in community improvement, and aiding current and emerging neighborhood associations.

Green and Sustainability Volunteer -- primary responsibilities include: promoting TRIP as an environmentally conscious organization dedicated to providing resources and opportunities to clients and the community, participating as a member of TRIP's internal Green Team, establishing systems to ensure that our Green goals are achieved and maintained, and working with the Green Team to reach and sustain the Green NeighborWorks Organization designation requirements.

If you want to make a change in Troy and the world, this is a great opportunity! On-the-job training as well as national VISTA training will be provided. Applicants must be at least 18 years old.

For more information about Americorps*VISTA and/or the positions available at TRIP, please contact Hilary Lamishaw at hilary@triponline.org or call (518)272-8289 x214. Applications will be accepted until August 3, 2012. Submit a letter of interest and resume to Hilary at hilary@triponline.org or TRIP at 415 River Street, Troy, NY 12180.

Statewide Neighborhood Conference Scheduled, September 21-22, 2012

Thanks to the vision of local business owner Rocco DeFazio and the efforts of a hardworking team of city residents, Troy is proud to host the first New York State Neighborhood Revitalization Conference on September 21st and 22nd at Russell Sage College. This conference will bring together neighborhood activists, educators, business people, and elected officials to share successes and develop strategies to maintain healthy communities. Throughout the conference, attendees will hear from and work with diverse neighborhood leaders and activists from across the state, including keynote speakers Alan Mallach and James Kunstler.

For more information or to assist, please see the initial announcement at www.nyneighborhoods.org/announcement and/or visit the website, www.nyneighborhoods.org.

U.S. Department of Housing and Urban Development Documents the Benefits of Pre-Purchase Counseling

TRIP & RCHR, our customers, and our supporters know all about the importance of pre-purchase homebuyer counseling, but now the U.S. Department of Housing and Urban Development (HUD) has released a study corroborating that knowledge.

Released in May, the study written by Jennifer Turnham and Anna Jefferson, sampled 573 individuals and found significant levels of achievement in homebuyers who received pre-purchase housing counseling. They were more likely to be mortgage-ready, have a signed purchase agreement, and havevdecent credit scores as a result of the financial, budgeting, and homebuying information received.  Additionally, the study tracked participants at 12 to 18 months after receiving pre-purchase counseling services and found that "only one of the purchasers had fallen at least 30 days behind on his or her mortgage payments and none had a major derogatory event on a mortgage account."

If you or someone you know is considering homeownership, don't miss out on pre-purchase education and its benefits. At the TRIP NeighborWorks HomeOwnership Center we offer free, professional housing counseling with certified counselors. For more information, go to http://www.triponline.org or call us a (518) 690-0020.

To read the complete HUD Pre-Purchase Counseling Outcomes Study go to  http://www.huduser.org/publications/pdf/pre_purchase_counseling.pdf.

Call for Nominations: Troy Treasure Award

TRIP is seeking nominations for the 2012 Troy Treasure Awardee -- an individual, group, or business committed to improving Troy! We know there are many of you, and we would love to see you honored as a Troy Treasure. This year's Troy Treasure Awardee will be recognized at the TRIP & RCHR Homecoming Dinner on October 29th.

Please nominate your favorite Troy resident, business, group, etc. today! The deadline for nominations is July 16th.

More information and nominations forms may be found at http://triponline.org/news_and_events/2012TroyTreasureNominations.html .

New Faces at TRIP: Welcome Joel Levy, Summer Intern

TRIP would like to welcome our newest intern, Joel Levy! Joel is a rising senior at RPI double-majoring in Business Marketing and Electronic Media Arts and Communication. Growing up in Florida, this is his first New York summer!

Joining the TRIP team as a Marketing and Communications Intern, Joel will be developing templates for and designing printed materials, assisting with online promotion of TRIP and our partners, and serving as a photographer at events. We are excited to have the opportunity to work with Joel, and look forward to a productive summer!