You can tell just by walking through the front door and seeing the lack of furnishings and blank walls that Damian, Jackie and their two kids Anela and Nazario have just moved in. With their new Aurora home they have much more space than their previous residence. Before their previous home where they were homeowners, but like many families did during the recession Damian and Jackie experienced foreclosure. “We had an ARM, eventually we couldn’t afford our house payments” explains Damian.
During the last three years they were renting a townhome that was barely adequate for their needs plus their landlord was anxious to sell which essentially pushed them out giving them barely enough time to find a home. They had to move fast, fortunately that were recommended to NEWSED to begin the home buying process. In this current housing market it was challenging finding the right home, in the right area and with good schools. In addition they lacked sufficient savings for an adequate down payment. Fortunately they qualified for an FHA loan and NEWSED Housing Counselor, Mercedes Fuentes, was able to find them much needed down payment assistance through Metro Mortgage Assistance at 4% of the sale price of the new home. “All we had to do was pay for the appraisal and inspection” Jackie explains with a big smile. When asked how this home buying experience was different than their first they talked about how they were able to get a full one on one financial assessment and attend a home buyer workshop.
“We learned so much through that process. We’ve been recommending NEWSED to our friends and family ever since”. As the family settles in there is a sense of ease and contentment. Anela and Nazario are ecstatic about their new home, one that they helped pick out. For this hard working family, for the time being, their dream of successful homeownership is complete.