PATHWorks Newsletter: January 2023
Success Stories - Employment - Finances - Asset Building - Housing Works Updates - Resources
HAPPY NEW YEAR from all of us at Housing Works!
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Homeownership Success through Partnerships-Continued |
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In our most recent newsletter published in October 2022, you read about Linda's and Cyndy's homeownership purchases through our partner programs, Habitat for Humanity, VIDA matched savings, NeighborImpact, and Housing Works Homeownership Program.
Read about Yanett's and Nubia's homeownership journeys below!
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Yanett S.G.
Yanett received her Housing Choice Voucher in August of 2019. Yanett started looking for a rental and she had good timing. She applied for, and was accepted into Housing Works' HomeQuest Tutor Home program. This program is for families that want to actively work toward homeownership, which was a goal of Yanett’s.
Yanett jumped right into action and joined the PATHWorks program in October of 2019. Her main goal was to, of course, become a homeowner, and she needed to increase her income to support that goal and provide for her children.
Yanett opened a VIDA matched savings account in December of 2019 and began to make monthly deposits into her savings account. Yanett had some debt and wanted to learn how to follow a budget. She understood that in order to qualify for a home loan she would have to be in control of her finances.
With the arrival of COVID-19, Yanett stayed focused and was fortunate to be able to continue in her career at NeighborImpact as an Energy Assistance Specialist. She was able to work from home and also received raises over the next year. In January of 2021, Yanett made the decision to apply for a Habitat for Humanity home in Redmond. She had put in the work to improve her finances and increase her credit score, so her application looked really good and she was accepted into the Habitat program. As part of the program requirements for both VIDA and Habitat, Yanett completed a financial training and first-time homebuyers education courses through NeighborImpact. She had to complete her sweat equity hours and other requirements of the Habitat program, but doing the work is never an issue for Yanett. When she sets her mind to it, she does it.
Yanett joined the Housing Works Housing Choice Voucher Homeownership program, which is mandatory for anyone looking to use their voucher to help pay a portion of their mortgage. She also started working with a lender to become prequalified for the loan she would need to buy her home. Along the way she continued to manage her finances, finished funding her VIDA, and followed her budget. That paid off and she was pre-approved for a home loan in early 2022.
Yanett had to wait a few more months until her home was completed. Her hard work and patience paid off when she moved into her new home in April of 2022. Yanett now has a stable place to call home and raise her children while she continues to grow in her career.
Great job Yanett, renter to homeowner in less than three years! You are an inspiration.
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Nubia G.
Nubia received her Housing Choice Voucher in August of 2017. She was a single mother of 3 working at Medline ReNewal in Redmond, and was barely making it financially living paycheck-to-paycheck.
Nubia learned about the PATHWorks program and decided to join in August 2018. She was living in the same apartment she had originally rented when she received her assistance and knew she wanted to provide a better home for her family. Instead of moving to a new rental, she decided to put her time and effort into preparing for homeownership. She also applied for her son Aaliyah to participate in Camp Rosenbaum and he was selected. The duties of a dedicated single mom never cease!
Nubia changed careers and started working as a Bilingual Patient Specialist at Advantage Dental and was enjoying the change. Upon joining the PATHWorks program, she began to focus on her financial goals. She struggled at first with tracking her spending and creating a budget. Slowly but surely, she started to commit to the process of taking control of her financial future. She created a debt reduction plan, signed up for the 401K retirement plan at her work, and received raises along the way.
COVID-19 put things on hold for a bit, but in June of 2020, Nubia enrolled and was accepted into the VIDA matched savings program to save for her home's down payment. She could now see if she reduced her debt, maintained her good credit score and employment, the goal of homeownership was possible. She applied for the Habitat for Humanity program and was accepted for a Redmond Townhome in 2021.
With her acceptance into the Habitat program, the real push for homeownership got started. She had to complete regular budgets, attend classes (including financial and homeownership) and complete her sweat equity requirements. Along the way, she continued to fund her VIDA account and started working with a local lender on getting pre-approved for a mortgage. She officially joined the Housing Choice Voucher homeownership program as is required to receive a mortgage subsidy.
Nubia watched her home being built and in May of 2022, she got the keys to her new Townhome. Nubia and her children will now have stable housing to grow in as they enjoy the Redmond community. Nubia is another great example of doing the work so that you are prepared to take advantage of the opportunities that present themselves in life.
Congratulations Nubia, enjoy your new home.
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The Life Priorities exercise is a simple way to explore what you want in your life going forward. As you move forward on Your Success Path, your priorities will ground you in what matters to you, support you as you start planning for your future, and guide your actions as you move forward toward your vision.
It sounds so simple, but few of us know how to sort through all of our competing wishes, hopes, dreams, fears, regrets, longings, demands, and obligations to identify what truly matters in our lives. It can be very challenging to organize all the noise and chatter in our heads at times. You don’t need to have a perfect life priorities plan to achieve considerable success, but without clear life priorities your success might be defined by others, perhaps parents, a spouse, friends, or colleagues rather than the success that you most deeply value for yourself.
This exercise offers you a way to sort through all of your thoughts and to get clear about what really matters to you, i.e., to identify your life priorities. This clarity can put you on track to create and design your own Success Path!
Click here for the Life Priorities exercise! |
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File 2022 Taxes for FREE
If you want to file your taxes for free on your own, there are several websites available online. On the IRS website, Free File is a program for taxpayers who earn $73,000 or less. Taxpayers who earned more than $73,000 and are comfortable preparing their own returns, can use Free File Fillable Forms.
While filing your taxes this year, don't forget to take advantage and claim the tax credits you qualify for. Some of these tax credits include the Earned Income Tax Credit (EITC), or the Child Tax Credit. For more information about tax credits click here.
More information and resources for filing your taxes for free through either an in person volunteer tax preparation service or by doing it yourself online can be found at Cash Oregon. Check out their video below! |
Plan for your Tax Return
Tax Season is here and you may be expecting a refund this year. Take into consideration your personal financial situation and determine your needs vs. your wants. Listed below are a few financial priorities you might consider using your tax refund on in order to take control of your finances.
- Catch up on all your bills
- Start or increase your emergency savings account
- Pay off current debt
- Pay off collection debt
- Purchase something you need/not want
- Contribute to retirement account
- Invest
Being responsible with your money now can improve your finances in the short-term and provide you with more financial security in the future.
Read more about planning out your refund from CFPB here.
If you are tempted to take out a refund advance or a refund anticipation loan by getting your refund sooner, be very careful. The fees associated with those tax products can cost you hundreds of dollars. That is your money -- don't give it away! File your taxes as early as you can and ALL of your return will be in your hands before you know it.
Oregon Department of Revenue launches their YouTube Channel!
Check out videos on taxpayer advocacy and keep up to date on news releases! |
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Your Health as an Asset
Money, house, cars, jewelry, things that you own, are usually what comes to mind first when you think of assets. However, you can define an asset as essentially a useful or valuable resource, person or quality that offers you a return on your investment.
Your health is one of
your greatest assets!
Your body gives you the strength and energy that you need to achieve better results in every aspect of your life. And yet, for many people, our health "just is". It is not something we think about on a day-to-day basis unless something is wrong. We can take our health for granted if we don't make a conscious effort to invest in our health the way we do other assets.
If your physical and/or mental health are not as strong as you would like, you can take action to improve them. If your physical health is suffering, then work with a medical professional to design a plan to get back on track. If you are feeling run down or have a lack of energy, start a regular exercise program, start walking or practicing yoga and get moving. Once you do, stick with it!
What are you eating on a regular basis? Are you eating a healthy diet? If not, start. If you don’t know what a healthy diet is, then work with a nutritionist who can help you. If you have medical issues, discuss any dietary changes with your doctor as well. Your body is like a car-if you put bad gas in it (bad food) it won’t run as well as it can.
Building yourself up through a healthy diet and consistent exercise has a tremendous affect on your mental health as well, but there is more you can do. If you are receiving mental health counseling, work with your provider to help support your new healthy lifestyle choices. If you are not in counseling, but feel like you could use some help in developing a more positive outlook or moving beyond some of your bad thinking habits, then by all means seek counseling. As a society we are more isolated than ever, so don’t be afraid to reach out for help.
It is important you take care of yourself both mentally and physically to reach your potential. Don’t get overwhelmed. Small incremental changes over time can make a big difference. Good health supports positive social and economic outcomes – both for the individual and for society as a whole. Invest in your health as your most valuable asset and start taking care of yourself today!
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Housing Works has a new satellite office in Bend!
Address:
Summit Park
2017 NE Full Moon Dr. Suite #100,
Bend, OR 97701
Housing Works will have a staff member available at this location during the following days and times:
Open:
Tuesday - Thursday
9:00 am - 4:00 pm
If you need to drop off paperwork and don't want to drive to our main Housing Works office in Redmond, drop it off at the Bend office during the open hours. Need to speak to a Housing Specialist with a general question? Come on by! We are excited for the opportunity to have this satellite office open to help serve our clients.
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Housing Choice Voucher
Waiting List Opening
Do you need help paying your rent? Then apply to the Housing Choice Voucher Waiting List!
The Housing Choice Voucher (HCV) Program Waiting List will open:
Monday, January 9th, 2023 (8 am)
through
Friday, January 13th, 2023 (5 pm)
Applicants must apply online at:
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. You can check your position on the waiting list at the end of January here.
For more information about the HCV Waiting List opening, check out the HCV article in the October 2022 newsletter here.
Who is Housing Works and what is the Housing Choice Voucher Program?
Housing Works administers a federal contract with the Department of Housing and Urban Development (HUD) to provide rental assistance (Section 8 Housing Choice Vouchers) to lower-income households in Central Oregon. We currently assist over 1,400 families and individuals on a monthly basis through the Housing Choice Voucher (HCV) program. Learn more about participating in the voucher program here. |
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Security Deposit Assistance Available!
Rental security deposit assistance loans are available to Housing Choice Voucher holders and residents moving into Housing Works-owned properties managed by EPIC Property Management ONLY on a first-come, first-served basis when funding is available. These funds help individuals and families remove barriers to accessing safe affordable housing once they are selected for a rental home.
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