PATHWorks Newsletter: NOVEMBER 2019
Success Story
- Employment - Asset Building - Finances - Community Events - Overcoming Barriers - Housing Works Updates - Resources
|
|
Joanna G. Success Story
Joanna was a single mother with an infant in October of 2004 when she was selected to receive rental assistance through the Housing Choice Voucher program. At that time, she was living with family, getting used to being a mother and attending college. The voucher provided the foundation for Joanna to live on her own and raise her son as she pursued her degree. Joanna graduate with a Bachelor’s Degree in 2007 and finished her Master’s program in 2008.
In June of 2017, Joanna joined the PATHWorks program with the goal to improve her finances and prepare for homeownership. She secured a job with Saving Grace which provided the income she needed to focus on her financial goals. Joanna put her mind to establishing new credit, paying down debt and creating consistent written budgets, which she followed. She was carrying student loan debt from earning her degrees and shortly after joining the PATHWorks program she enrolled in the Federal Student Loan Forgiveness program. That program allows much of her student loan debt to be forgiven after 10 years of service with a qualified employer and 120 on time payments towards her student loans. She also joined the VIDA 3:1 matched savings program to help fund her homeownership down payment goal.
|
In November 2017, Joanna attended a Habitat for Humanity Bend orientation session and applied to the program. Joanna followed through and fulfilled her obligations with Habitat and although the journey had twists and turns, Joanna took ownership of her home in Bend in September of 2019 and released all of her assistance.
None of this would have been possible without the discipline, follow through and desire Joanna had while attending numerous meetings, working full-time, raising her son and her discipline in managing her finances.
Thanks for showing us the way to success Joanna, congratulations!
|
|
5 Emotional Cancers
In Dr. Stephen Covey's book, "The 8th Habit", he identified 5 cancerous behaviors that are destructive in the workplace and will derail individual, team, and organization performance. Many people have fallen victim to negative thinking and engaged in unproductive behaviors. It can become a problem when we linger in this negativity and it manifests to
cancerous behaviors. Read about the 5 Emotional Cancers below.
- Criticizing: Indicating the faults of someone or something in a disapproving way. Criticism is not designed to help someone improve, but to make them look bad and only makes matters worse. Constructive feedback is more beneficial when used as feedback for improvement.
- Complaining: Expressing dissatisfaction or annoyance with someone or something. Think about what you have in your power to improve the situation.
- Comparing: Estimating, measuring or noting the similarity or differences between people or things.
- Competing: This is a "win/lose" behavior thinking you are better than someone else.
- Contending: To compete or to fight. Focusing on what is wrong and not helping to make things right or better.
Do not engage in these 5 cancerous behaviors. Think before you act and ask yourself if your actions, attitudes, and emotions are helping or hurting the situation. Organizations are successful when everyone works towards the same goal.
Watch Dr. Stephen Covey in the video below to hear more about the 5 metastasizing cancers that kill top performers in the workplace.
|
|
 |
Retirement Savings
The good news: we are living longer. The bad news: we’re not saving enough. The average savings for Americans nearing retirement is just $12,000. Studies have shown we are 15 times more likely to save if we have a retirement option at work, but about 1 million workers in Oregon don’t have that option today.
If your employer does not have a retirement program, you can save on your own through
OregonSaves
. Workers in Oregon have a new and easy way to save for retirement at work by saving through payroll deductions
and employees’ IRAs stay with them throughout their careers. These retirement savings will always remain your money and you have total control over your account.
OregonSaves won’t compete with existing company retirement plans, such as 401(k)s and it is not a pension plan or connected in any way to the Oregon Public Employee Retirement Fund (PERS).
Watch a quick video below for more information on how OregonSaves works.
|
|
|
|
Don’t Wreck your Finances with a Big Car Payment
I think we would all agree that you need reliable transportation in Central Oregon since we have limited access to public transportation. The question is; what kind of vehicle is the best fit for your budget? When you’re ready to buy a car, it is important to do the math!
When buying a car, think in terms of your
total transportation costs
when it comes to your purchasing decision. That includes:
- Loan payments if financed
- Gas
- Insurance
- Registration fees
- Maintenance costs: oil changes, tires, repairs (monthly saving set aside to prepare for this)
- Any monthly parking fee you may have
A good rule of thumb is that your
transportation costs should not exceed 15%
of your net (take home) income.
Here is a quick example.
Net (take home monthly income) = $1,900
Total transportation costs = $300.00
$300 divided by $1,900 = 15.79%
As you can see on a fixed or lower income, the amount you have available for transportation is limited. It is important to stay within your budget to avoid living on the edge financially. Buying a car that you can’t afford is one of the quickest ways to wreck your finances.
Ask yourself, what am I really paying for this car?
If you have less than perfect credit and you are shopping at one of the discount dealers that finance almost anyone, be very careful. In many cases they charge
high interest rates
and then increase the number of payments (loan term) to get you a payment you think is right for your budget, but again - do the math! Just because the payment fits, doesn’t mean it’s a good deal. Here’s an example.
Cost of vehicle: $9,289
Payment term: 60 months
Interest rate:
28.75%
Monthly payment: $293
Interest Paid $8,317
Total Cost of Vehicle Payments= $17,606
Now that you have done the math, ask yourself, do you want to pay $17,606 for this car? Because that is what it is really going to cost you! If it’s an older car with higher miles, the maintenance of the vehicle could make it even more expensive. Nothing is worse than dumping your hard earned money into a car that you still owe years of payments on.
When buying a vehicle, keep your emotions out of the deal and avoid dealer pressure. Identify what you can afford and stick to it. Your vehicle is for transportation. If you make it more than that, and many do, you could end up paying a high price for going beyond your budget. That mistake could take years to recover from. You would be better off taking the time to work on improving your credit so that you can buy a reliable entry level vehicle with a low payment and great interest rate and warranty. That isn’t as fun as buying your dream car, but until you can afford your dream car, don’t make your next car purchase a nightmare for your finances.
|
|
|
|
NeighborImpact Energy Assistance Available
|
|
Overcoming Frustrating Experiences
Challenges present themselves on a daily basis, some small, and some not so small. It is how you choose to react to those challenges that can hold you back or move you forward.
So, how do you make sure you have a good perspective of the issue at hand? First take some time to evaluate the challenge
before you respond or react. The time to do this can vary from a few seconds to a few days depending on the urgency of the situation. Once you have decided what the best desired outcome is for you, then you can come up with a plan to achieve that outcome.
Say for instance, you have a bad experience or got frustrated trying to receive services or get information you need from an organization. Perhaps your perception is the person you are speaking with seems combative or unwilling to help. If you just throw up your hands, get angry, storm off or hang-up, then you have let the situation dictate your outcome. This is a perfect time to pause, maybe call back or go back at a later time. It could be that the person you are dealing with is just having a bad day. Remember your desired outcome, evaluate the situation and try to clearly state your desired outcome again to the person or new person you are speaking with. If they still can’t help you due to their policy or some other issue, ask if they can suggest a way for you to achieve your desired outcome. Remember the saying “You’ll catch more flies with honey than you will with vinegar”. Keep your cool, be courteous and professional even if you feel they aren’t, and acknowledge that you appreciate their help.
Most of all be patient, thoughtful and keep your desired outcome in mind. Some challenges can take several attempts to solve. Always remember, this problem will eventually be behind you. If you don’t believe that, just look back in your life to remember a time when you had a challenge that seemed overwhelming, we all have them. With a little practice you will find that you can become an efficient problem solver.
|
|
|
Carnelian Place -
New Development Work in Bend!
According to the latest Census data, the Bend/Redmond Metropolitan Area is the 4th fastest growing Metropolitan Statistical Area in the United States, and Deschutes County is the fastest growing County in Oregon. Given this unprecedented growth, the rental market in Bend has created a crisis for our most vulnerable citizens. In response to this need, Housing Works is continuously developing properties in Central Oregon. One of the upcoming properties being developed is Carnelian Place, a 47-unit apartment building housing seniors whose income is very-low or extremely-low, on three residential floors above a ground floor medical clinic operated by Mosaic Medical, a non-profit health care provider which specializes in serving low-income patients.
Carnelian Place will offer a mix of one- and two-bedroom apartment homes with significant focus placed on site layout and property amenities that support and enhance livability for seniors. For example, ADA height toilets, accessible showers, and grab bar handles will be included in each unit to improve accessibility. The building will have an elevator, allowing all residential units to be adaptable for those with disabilities. In addition to its functionality, Carnelian Place has been designed to meet Earth Advantage Platinum building standards (a sustainable development) and will incorporate a solar system on the roof.
Carnelian Place will be built on a 1.48 acre lot located in the city’s medical district which is located in a thriving opportunity area proximate to not only health resources but to shopping and recreation as well. Additionally, the site is well served by subsidized transit and has on-site amenities including a ground floor community room with adjacent community garden, and a top floor community room with an outside deck showcasing beautiful mountain views.
Housing Works expects to break ground on this property in April 2020 and complete construction in May 2021. More information will be made available as development progresses and timelines become more certain.
|
|
|
|
Housing Choice Voucher Program -
Waiting List Opening
It's almost the beginning of a new year! With that comes the opening of the Housing Choice Voucher (HCV) Program Waiting List. The waiting list will open:
Monday, January 13th, 2020 (8 am) through
Friday, January 17th, 2020 (5 pm)
This program is open to low-income qualified residents of Deschutes, Jefferson and Crook counties. Applicants must apply online at
www.oregonhousingworks.org
.
The time you apply during the week does not impact your position on the waiting list.
All applications taken during the open period will be randomized by a computer and placed on the waiting list to give all applicants an equal chance. All current applications are purged from the waiting list on December 31st. Anyone who is currently on the waiting list needs to reapply to the 2020 list.
If you are a partner agency helping community members apply to the HCV Program Waiting List and would like additional assistance before it opens for a presentation or training session, please contact Housing Works Housing Director: Lesly Gonzalez. You can email her at:
lgonzalez@housing-works.org or call her at: (541) 323-7416.
If you need assistance filling out the application, Housing Works will have staff and computers available at our office located at
405 SW 6th St., Redmond, OR 97756
between 8 am and 5 pm during the application week.
You may call Housing Works for more information at: (541) 923-1018.
|
|
|
|
Rent a Home in Prineville for Only $900 per Month
Our “homeowner in training” program, the Tutor Home program, provides residents the opportunity to lease a home for up to two years while they take steps to prepare for the purchase of their own home.
How It Works:
- You receive one-on-one coaching about the home buying process.
- We review your credit report and suggest options to improve your credit score, if needed.
- We help you develop a spending plan and make deliberate decisions about where you want your money to go.
- You have access to a 3:1 matched savings account (VIDA).
- A portion of your rent is set aside and applied toward the purchase of your own home, upon successful program completion.
- We support you through the home loan and closing processes.
Are You Eligible?
- Preference given to current Housing Choice Voucher holder and FSS graduate applicants.
- Available to those earning 80% or less of the Area Median Income (AMI).
- Must reside or work in Deschutes, Crook or Jefferson County.
- Tenants must demonstrate by the end of the lease that, a) their income will be sufficient to support a mortgage, and b) they will be in a position to obtain mortgage financing.
- Participants must comply with a Tutor Home Lease Agreement, pass home inspections, and complete program requirements.
Applicants should be able to qualify for a mortgage loan within TWO years. If you are unsure of what that means, call for more information.
For more information, please contact Housing Works' Family Self-Sufficiency Program Manager, Andy Hall, at (541) 323-7413 or email him at
ahall@housing-works.org.
|
|
EMPLOYMENT
COMMUNITY RESOURCES
|
|
|
|
|
|
|
|
