homebuyers education course - debt consolidation,...
TRANSCRIPT
PIONEER CENTER FOR EDUCATION
Homebuyers Education Course
PRESENTATION GUIDE
TABLE OF CONTENTS
INTRODUCTION
SEGMENT 1: Class Schedule
SEGMENT 2: Realizing the American Dream Workbook Content
Reference Guide
SEGMENT 3: Accompanying Power Point Slides
SEGMENT 3: Forms
o Housing Counseling Intake Form
o Housing Disclosure
o Credit Report Authorization Form
o Monthly Budget Worksheet
o Class Participation Roster
INTRODUCTION:
This course is provided by Pioneer Credit Counseling and serves the purpose to provide vital
information for clients who are seeking to purchase a home. The 8 hour class is led by a certified
counselor and includes insight and information from respected experts one would encounter in the
home buying process.
The course is broken into two 4-hour sessions and scheduled at times that are most convenient for
clients.
It is our intention that clients leave the course with a greater knowledge in the subject matter, which
leads them to make wise financial decisions with consideration to all the costs that come with buying
a home.
Our Homebuyer Education consists of a group setting, in which we introduce those participating in the session to the different individuals and processes in the home purchasing process. This includes the realtor, home mortgage consultant, appraiser, home insurance consultant, inspector and the different state offered programs for the home buyers. Our objective is to educate first time home buyers on the many processes of the home purchasing process. At the beginning of the first of the two classes, we have each client participating fill out an Intake Form and provide them with a budget worksheet. Each client is then provided several handouts from the participating speakers in which they go through in detail regarding the purchasing process. Following the class will be one-on-one counseling as needed to help the client purchase their dream home. Our pre purchase counseling also starts in a group setting. Again an intake form is filled out and necessary agreements are signed. The content of the group session will be Homeownership readiness and affordability, Money and Credit Management, Types of Properties and Financing Available, Purchase/Mortgage and Closing Process, Home Maintenance and Financial Management after home purchase. After the group session we will again hold one on one sessions which we will cover; Personalized analysis of financial situation, assessment of ability to qualify for a mortgage, develop a plan to overcome any barriers to achieving home ownership, linkages with housing industry professionals and review of all aspects of purchasing and financing process. Once an evaluation is completed with the client they will fall into two categories near ready buyers or long term buyers. Our near ready buyers are clients with fairly minor obstacles that can normally be resolved within a month or two. Our long term buyers are clients facing obstacles to homeownership that cannot be resolved in a few months. The same material will be used for both cases the only difference is the amount of counseling that each client will actually receive. The activities that are involved in both the Homebuyers Education and Pre Purchase counseling will include general needs assessment which involves gathering information regarding a customer’s financial situation, identifying their needs/options, assessing their readiness by reviewing their credit report and calculating affordability. We will assist clients in creating a household budget and monitoring the progress in following the budget, tracking expenses and establishing a financial plan to reduce debts and establish a savings plan. Help them address credit problems, establish or rebuild credit and help them
to know what needs to be done to improve their credit score. Corrective action planning which involves outlining the steps needed to overcome any identified obstacles. We will be utilizing a prequalification worksheet which involves calculating how much they can afford monthly for a mortgage payment, assessing their eligibility for a mortgage loan and providing them with information regarding available mortgage products and housing assistance programs. Document review will be provided also which involves evaluating their loan documents and purchase documents. We will explain to the client the steps in the mortgage loan application and purchase process. We will then make referrals as necessary if any physical, social, mental or financial difficulties are identified during the counseling process that cannot be handled by the counselor.
The course is presented along side material and lessons within the manual “Realizing the American
Dream” by NeighborWorks America.
Realizing the American Dream Workbook Content Reference Guide
Are You Ready to Buy a Home? Section 1
Objectives pg 12 Is Owning a Home Right for You? Pg 12
Advantages of Homeownership pg 12 Disadvantages of Homeownership pg 13 Pros and Cons of Owning a Home Worksheet pg 14
How Do you Buy a Home? Pg 15 Steps in the Homebuying Process pg 15 Your Homebuying Team pg 18 The Mortgage Payment and Other Costs of Homeownership pg 21 What is a Mortgage? Pg 21 What Does a House Payment Include? Pg 21 What other Costs Should You Expect? Pg 22 How Much Can You Pay for a House? Pg 23 The 4 C’s of Credit pg 23 How to Obtain a Copy of Your Credit Report and Credit Score pg 25 Credit Report and Credit Score Order Form pg 26 How Much Can You Afford? Pg 27 Housing Affordability Worksheet pg 28 Ratios pg 29 Practice Prequalifying Yourself Pg 30 Your Turn pg 30 Total Monthly Debt Worksheet pg 31 Prequalifying Worksheet pg 32 Sample Interest Factor Table pg 33 Summary pg 33 Self-Test pg 34 Next Steps pg 36 Resources pg 37 Managing Your Money Section 2 Objectives pg 42 Getting Started With Making a Plan for Your Money pg 42 Why Do You Need a Spending Plan? Pg 43 How Do You Use Money? Pg 43 Planning How to Spend Your Money pg 45
Family Budget Stories pg 45 The Steps in Establishing a Spending Plan pg 47 Monthly Income Worksheet pg 49 Monthly Expenses Worksheet pg 50 Monthly Discretionary Income Worksheet pg 51 Keeping Track of Your Spending pg 51 Developing a Spending Plan to Meet Your Goals pg 57 Teamwork: Setting Family Goals pg 52 Setting Goals Worksheet pg 52 Meeting Your Goals by Trimming Expenses pg 53 Making Your Spending Plan pg 55 Money Management Tips pg 55 Monthly Spending Plan pg 56 Reviewing the Plan pg 58 Ways to Make Money Management Easier pg 58 Controlling Your Day-to-Day Spending pg 59 The Importance of Saving pg 60 Types of Savings Accounts pg 60 Tips for Savers pg 61 Thinking and Saving Like a Homeowner pg 62 Getting Help pg 63 Summary pg 64 Self-Test pg 65 Resources pg 68 Understanding Credit Section 3 Objectives pg 73 How Is Your Credit Rating? Pg 73 Why Is Good Credit Important? Pg 74 Credit Reporting Agencies and Credit Reports pg 75 What Is a Credit Reporting Agency? Pg 75 Types of Credit Reports pg 75 Ordering Your Credit Report pg 76 Credit Report and Credit Score Order Form pg 78 Sample Credit Report from TransUnion Pg 79 Reviewing Your Credit Report pg 82 What Is a Credit Score? Pg 83 What Does a Credit Score Consider? Pg 83 Tips for Improving Your Credit Score pg 84 Improving Your Credit Report pg 86
Correcting Errors and Omissions pg 86 Common Credit Problems Pg 89 Solving Credit Problems pg 90 Credit Counseling pg 93 Other Help pg 93 Be Careful of Quick Credit Fixes pg 93 What If You Don’t Have a Credit History? Pg 94 Nontraditional Credit pg 94 Nontraditional Credit Worksheet Pg 95 Establishing Credit pg 96 Managing Your Debts So They Don’t Manage You pg 97 Steering Clear of the Credit Card Trap pg 97 Getting Out of a Credit Crunch pg 97 Worksheet: Are You in a Credit Crunch? Pg 100 “Power-Paying” Bills to Get Out of Debt pg 101 Power-Pay Worksheet pg 102 Opt Out to Avoid Debt pg 104 Identity Theft: When Bad Things Happen to Your Good Name pg 105 How Does Identity Theft Happen? Pg 105 What Are Ways to Reduce Your Risk? Pg 105 If You’re a Victim pg 106 Know Your Rights pg 107 Equal Credit Opportunity Act pg 108 Truth in Lending Act pg 108 Fair Credit Billing Act pg 109 Fair Debt Collection Practices Act pg 110 Summary pg 112 Self-Test pg 113 Resources pg 116 Getting a Mortgage Loan Section 4 Objectives pg 123 Mortgage Loan Basics pg 123 What Is a Mortgage? Pg 123 What Does a House Payment Include? Pg 124 What Are the Steps Involved in Getting a Mortgage Loan? Pg 124 Who Can Get a Mortgage Loan? Pg 125 The 4 C’s of Credit pg 125 Worksheet: Calculating Your Gross Monthly Income (GMI) pg 127 Rate Your 4 C’s of Credit pg 130
Affordability and You pg 130 Housing Ratio pg 131 Debt-to-Income Ratio pg 131 Using a Factor Table pg 132 How Much Will a Lender Loan to You? Pg 133 Getting Prequalified by a Lender pg 133 Getting Pre-Approved by a Lender pg 134 Practice Prequalifying Yourself pg 135 Worksheet: Total Monthly Debt pg 137 Worksheet: Prequalifying pg 138 Shopping for the Right Lender and Loan Product pg 139 Who Makes Mortgage Loans? Pg 139 Different Loan Categories pg 143 Different Types of Loans Pg 148 Strategies for Finding the Right Lender and Loan pg 150 Key Mortgage Terminology pg 150 Shopping for Mortgage Loan pg 155 Comparing Loans and Programs pg 156 Making Your Decision pg 157 Worksheet: Mortgage Loan Comparison pg 158 Working with a Lender pg 159 Gathering Your Records pg 159 Loan Documentation Records pg 159 Loan Documentation Checklist pg 160 Applying for the Loan pg 161 Steps the Lender Takes to Approve Your Loan pg 162 Processing pg 162 Underwriting pg 162 Approval and Rejection pg 162 Standard Loan Conditions pg 163 Closing the Loan pg 164 Refinancing pg 165 Your Rights as a Loan Customer pg 166 Summary pg 168 Self-Test pg 170 Resources pg 173 Shopping for a Home Section 5 Objectives pg 179 Timeline for and Steps in the Homebuying Process pg 179 Length of Time Needed to Buy a Home pg 179 Steps in the Homebuying Process pg 179
Your Homebuying Team pg 183 The Real Estate Professional pg 183 Prospective Agent’s Profile pg 188 The Lender pg 189 The Attorney pg 189 The Escrow Officer pg 189 The Title Insurance Officer pg 190 The Housing Inspector pg 191 The Appraiser pg 193 The Surveyor pg 193 The Insurance Agent pg 194 The Housing Counselor pg 194 Finding the Right Neighborhood pg 197 Setting Your Own Neighborhood Standards pg 197 Neighborhood Checklist pg 198 Types of Homes and Types of Ownership pg 199 Different Types of Homes pg 199 Different Ways to Own a Home pg 203 Finding Your Dream House pg 204 What Do You Want in a House? Pg 204 Worksheet: Homebuyer’s Wish List pg 205 House Hunting pg 206 Exploring on Your Own pg 206 Narrowing the Search pg 208 House-Hunting Checklist pg 210 Evaluating Your Dream Home pg 211 Buying Your Home pg 214 What Are You Willing to Pay? Pg 214 Purchase and Sale pg 216 The Offer pg 216 Contingencies pg 217 Negotiating pg 217 Escrow pg 219 Loan Application, Appraisal, Survey pg 219 Inspections pg 219 Insurance pg 220 Purchasing Homeowners Insurance pg 221 Homeowners Insurance Consumer Quote Guide pg 225 Closing pg 226
Preparing for the Closing pg 226 Closing Documents pg 226 Closing Costs pg 227 Summary pg 229 Self-Test pg 230 Resources pg 233 Keeping Your Home and Managing Your Finances Section 6 Objectives pg 237 Protecting your Investment pg 239 Why Do You Need to Protect Your Home? Pg 239 Getting to Know Your Home pg 240 Moving In pg 241 Home Safety pg 242 Home Security pg 243 Saving Energy…and Money pg 243 Energy Saving Tips for Your Family pg 243 Energy Saving Tips for Your House pg 244 Preventive Maintenance pg 245 Mark Your Calendar pg 246 How Long Do Things Last? Pg 246 Home Maintenance Checklist Pg 248 Do-it-Yourself Repairs pg 249 Diagnosing and Solving Homeowners’ Most Common Problems pg 250 Remodeling and Major Repairs pg 252 Adding Value with Improvements pg 252 Planning Your Projects pg 253 Working with Contractors pg 254 Investing in Your Neighborhood pg 257 Knowing Your Community pg 257 Being a Good Neighbor pg 258 Showing Pride of Ownership pg 258 Asset Building pg 259 Managing Your Money for Homeownership pg 259 Developing a Savings Plan pg 260 Remember the Credit Trap pg 260 Keeping Records pg 260
Taxes and Insurance pg 261 Federal Income Tax pg 261 What You Can Deduct From Your Taxes pg 262 Capital Gains Tax pg 263 Homeowners Insurance pg 264 Mortgage insurance pg 265 Escrow Adjustments pg 266 Life Insurance pg 266 Protecting Your Equity pg 267 What is Home Equity? Pg 267 How Can You Use Equity Without Selling Your Home? Pg 267 Step-by-Step Guide for Refinancing pg 269 Refinancing Monthly Payment Estimator pg 270 Watch Out for Predatory Lending pg 271 Prepaying Your Mortgage pg 274 Coping with Hardship pg 275 Meeting Your Financial Responsibilities pg 275 What Is Foreclosure? Pg 276 Communicate with Your Lender pg 276 Preventing Foreclosure pg 276 Loan Workouts pg 276 Moving On pg 277 Delinquency Counseling pg 278 Summary pg 279 Self-Test pg 280 Resources pg 282 Appendix Pg 287-301 Glossary of Terms pg 303-316
HOMEBUYERS EDUCATION COURSE
CLASS SCHEDULE
DAY ONE:
Hour 1: Clients fill out intake forms and class introduction
Hour 2: Guest Speaker – Bank/Loan Officer
Hour 3: Guest Speaker – Realtor
Hour 4: Budget Counseling Review
DAY TWO:
Hour 1: Guest Speaker – Home Insurance Representative
Hour 2: Guest Speaker – Home Inspector & Home Appraiser
Hour 3: Guest Speaker – Title/Closing Company Representative
Hour 4: Guest Speaker – Credit Report Review
CLOSING:
Scheduling of appointments for one-on-one Pre-Purchase
counseling sessions.
Establishing a realistic spending plan
Setting goals and creating a spending plan to meet your goals
Trimming expenses and finding ways to save
To Prepare for Large Expenses
To Encourage Savings
To Prepare for Surprise Expenses
To Identify Wasteful Spending
To Accomplish Goals
Understand your own spending behaviors
How would you answer the following:
What things would be the easiest to change?
What would be the hardest?
Is a house worth giving these things up?
Are you ready to do this now?
Are there other things you want to do before you start saving for a house?
Determine your monthly net income
Calculate your monthly expenses
Subtract your monthly expenses from your income
Be Specific
Ask everyone to tell what their goals are and steps to reach goals
Rank the goals in order of importance
Try to agree on a few top goals
Figure out how much it will cost to reach the goals
Know the difference between “needs” and “wants”
Needs-items that you must have for basic survival
Food, water, shelter and clothing
Wants- things you desire but can live without
Expenses that usually stay the same each month
Rent, Utilities, Car payments, Insurance Payments, Child Support
Expenses for goods and services
Car Insurance, water and sewage
Even though they are fixed expenses they may be paid only periodically
Obligation to pay someone money for goods and services bought on credit
Minimum monthly payments to creditors
Clip Coupons
Use a list when Grocery Shopping
Compare Prices
Decide Family Members Allowances
Eat at home as often as possible
Trade Services with Friends
Find fun Activities and places in your area
Plan according to what our income is now
Plan ahead for 6 months
Include some spending money for family members
Make recordkeeping as simple as possible
Set money aside for home maintenance
When saving for long term goals, pay yourself first
Make sure that whole family agrees
Is your spending plan working?
Are all family members able to follow?
Which costs seem to always be over planned amount?
Are you getting closer to your goals?
Decide who pays bills
Know when bills are due
Ask for “Level Billing Payments”
Open Checking Account
Open Savings Account
Consider consolidating
Consider selling a car
Check interest
Stick to the plan
Carry written reminders
Carry as little cash/or only amount you need
Use direct deposit
Put Items on layaway
Buy only what you need
Try to pay with CASH, CHECK or DEBIT instead of CREDIT
Savings will grow faster if put into savings account at bank or credit union
Earn interest
Find ways to save 10% of your income
Pay yourself first
Open a savings account at a bank
Keep your change at the end of the day
Bank your surprises/gifts
Your spending plan should include savings and other costs of buying a home.
Loan fees
Appraisals
Moving Costs
Insurance
Most likely have higher Utility Bills
More Insurance
Property Taxes
Costs of upkeep
Repairs
Set aside a part of your income each month so that you will be ready for these bills when they occur
For yearly upkeep and repairs, should budget 1% of a home’s purchase price
You may also want or need things that were provided when renting
Refrigerator, washer and dryer, furniture
Make a plan to save for these purchases
Credit reporting agencies and credit reports
Credit scoring
How to address common credit problems
Ways to establish credit
How much you have borrowed
From whom you have borrowed
How well you repaid your debts
How you are handling current debts
Rent or buy things you want or need
Save money or borrowing at a lower interest
Get a job
Lease a rental property
Open a checking account
Establish utility services in your name
Obtain insurance at a lower rate
Companies that collect information and see it in the form of written reports
Banks, finance companies, stores, landlords, insurance companies and employers
Experian, Equifax and TransUnion
Consumer Credit Report
Infile Credit Report
Residential Mortgage Credit Report
PCC pulls a “Soft Inquiry”- does not affect credit score
Payment history -35%
Outstanding debt-30%
Credit history-15%
Types of Credit-10%
New Credit-10%
Each time you have a new credit inquiry, your credit score will lower
Correct inaccurate information
Pay your bills on time
Minimize outstanding debt
Apply for and open new credit as needed
Use credit cards responsibly
Re-establish credit if you have had problems
Pattern of 30-,60-,90-day late payments on current debts
Past poor credit performance
Bankruptcy
Judgments/Liens
Past due credit accounts and collections
Charge-offs
Foreclosures or repossessions
Prepare realistic spending plans, control spending
Contact your creditors
Seek professional help
Pay past due accounts
Negotiate discounted payoffs
Negotiate workout plans
Write explanation letter
Pay your bills on time
Open checking account and savings account
Apply for loan
Apply for limited-use credit card
Apply for a loan with a co-signer
1 PCC Housing, 06-09
Last, First: _______________________________________________________ Date of Birth _____/_____/_____
SS#__________/__________/__________ Language: Eng / Span SEX: F / M (circle one)
Email Address: ________________________________________________
Address: _____________________________________________________________________________________________
City, _______________________________State:______ Zip: ___________ County: ________________________________
Length of Occupancy at current address :_________________________( if less than 2 years please provide previous address)
Previous Address if necessary: ________________________________________________________________________________
Length of Occupancy at previous address: ________________________
Home Phone: _______________________________________________ Cell Phone: _____________________________________
# of Dependents: ________ Family/Household Size: _____ FAX #________________________________
Contact Method: Home / Work / Cell / E-mail
REASON CONSUMER NEEDS ASSISTANCE (Check One):
______Poor Money Management ______Reduced Income ______Medical ______Divorce or Separation ______Death of Family
Member ______Other (Explain) ______________________________________________________________________
RFERRAL SOURCE (Check One):
______Billboard ______Brochure ______Family ______Friend ______Newspaper ______Radio ______TV ______Yellow
Pages _____Existing Client ______Internet ______Direct Mail _____HUD Website _____Social Services Agency
______Other (Please Specify) ____________________________________________________________________
Marital Status (Check One):
_____Married ______Separated ______Single _______Divorced _______Widowed _______Chose Not to Respond
Check all that apply:
_____Single Head of Household ______Female Head of Household ______First Time Home Buyer ______US Veteran
_____Owned Home in Last 3 Years
Race:
______American Indian/Alaskan Native _____Asian/Pacific Islander _____African American _____Hispanic _____White
_____Non Hispanic _____Other (please specify) ___________________
Citizenship:
______US Citizen _____Permanent Resident _____Non-Resident
Disabled (Check One): _____Y _____N
Current Housing Arrangement (Check One):
______Rent _____Homeless _____Homeowner with Mortgage _____Living with family member and not paying rent
_____Homeowner with mortgage paid off _____Other (please specify) ________________________________________
Education (Check One):
______Below High School Diploma _____High School Diploma _____Some college never completed _____GED Diploma
_____Bachelors Degree _____Masters Degree _____Associates Degree _____Other (please specify)____________________
APPLICANT
2 PCC Housing, 06-09
Last, First: _________________________________________________ Date of Birth _____/_____/_____
SS#__________/__________/__________ Language: Eng / Span SEX: F / M (circle one)
Email Address: ________________________________________________
Address (if different than above):_____________________________________________________________________________
City, _______________________________State:______ Zip: ___________ County: _______________________________
Length of Occupancy at current address :_________________________( if less than 2 years please provide previous address)
Previous Address if necessary: ________________________________________________________________________________
Length of Occupancy at previous address: ________________________
Home Phone: _______________________________________________ Cell Phone: _____________________________________
# of Dependents: ________ Family/Household Size: _____ FAX #________________________________
Contact Method: Home / Work / Cell / E-mail
Marital Status (Check One):
_____Married ______Separated ______Single _______Divorced _______Widowed _______Choose Not to Respond
Check all that apply:
_____Single Head of Household ______Female Head of Household ______First Time Home Buyer ______US Veteran
_____Owned Home in Last 3 Years
Race:
______American Indian/Alaskan Native _____Asian/Pacific Islander _____African American _____Hispanic _____White
_____Non Hispanic _____Other (please specify) ___________________
Citizenship:
______US Citizen _____Permanent Resident _____Non-Resident
Disabled (Check One): _____Y _____N
Current Housing Arrangement (Check One):
______Rent _____Homeless _____Homeowner with Mortgage _____Living with family member and not paying rent
_____Homeowner with mortgage paid off _____Other (please specify) ________________________________________
Education (Check One):
______Below High School Diploma _____High School Diploma _____Some college never completed _____GED Diploma
_____Bachelors Degree _____Masters Degree _____Associates Degree _____Other (please specify)____________________
CO-APPLICANT
3 PCC Housing, 06-09
Employer Name (Applicant):_______________________________________________________________________________
Street Address: _________________________________ City: ________________________ State: ______ Zip: ___________
Contact Phone: ___________________________________ Position/Title: ________________________________
Self Employed: ____Yes _____No Start Date: ______________ Gross Income (before taxes):_______ Net Income: _______
Is this amount paid: ____Hourly _____Weekly _____Every 2 weeks _____Twice a month _____Monthly?
Employer Name (Applicant):_______________________________________________________________________________
Street Address: _________________________________ City: ________________________ State: ______ Zip: ___________
Contact Phone: ___________________________________ Position/Title: ________________________________
Self Employed: ____Yes _____No Start Date: ______________ Gross Income (before taxes):_______ Net Income: _______
Is this amount paid: ____Hourly _____Weekly _____Every 2 weeks _____Twice a month _____Monthly?
Employer Name (Co-Applicant):_____________________________________________________________________________
Street Address: _________________________________ City: ________________________ State: ______ Zip: ___________
Contact Phone: ___________________________________ Position/Title: ________________________________
Self Employed: ____Yes _____No Start Date: ______________ Gross Income (before taxes):_______ Net Income: _______
Is this amount paid: ____Hourly _____Weekly _____Every 2 weeks _____Twice a month _____Monthly?
Employer Name (Co-Applicant):_____________________________________________________________________________
Street Address: _________________________________ City: ________________________ State: ______ Zip: ___________
Contact Phone: ___________________________________ Position/Title: ________________________________
Self Employed: ____Yes _____No Start Date: ______________ Gross Income (before taxes):_______ Net Income: _______
Is this amount paid: ____Hourly _____Weekly _____Every 2 weeks _____Twice a month _____Monthly?
Income Source Household Living Expenses
Applicant Take Home $___________________________________ Rent / Mortgage $_______________________________________
Co-Applicant Take Home $___________________________________ Tithe / Church $_______________________________________
Pension $___________________________________ Utilities: Gas $_______________________________________
Alimony/Child Support $___________________________________ Electricity $_______________________________________
Social Security $___________________________________ Other___________ $_______________________________________
Disability Income $___________________________________ Other___________$_______________________________________
Public Assistance $___________________________________ Water/Sewer/Gar $______________________________________
Other_______________ $___________________________________ Telephone $_______________________________________
TOTAL INCOME $___________________________________ Cell Phone/Internet $______________________________________
Miscellaneous Expenses Automobile 1 $_______________________________________
Rec / Entertainment $___________________________________ Automobile 2 $_______________________________________
Dry Cleaning / Laundry $___________________________________ Auto Insurance $_______________________________________
Cable TV $___________________________________ Auto Gas / Oil $_______________________________________
Clothing $___________________________________ Food / Household $_______________________________________
Credit Card Payments $___________________________________ Medical / Life Ins $_______________________________________
Personal Loan Payments $___________________________________ Child Care $_______________________________________
EMPLOYMENT/BUDGET INFORMATION
EMPLOYMENT/BUDGET INFORMATION
Page 1 of 2 CLIENT REQUEST _______
CREDITOR REQUIREMENT_______
(*Lead Side/Client Side) (*Lead is New Consumer)
CLIENT:
First Name
Last Name
Soc. Sec. # - -
Street Address
City
State
Zip Code -
Phone # - -
When Applicable, please complete Page 2.
**
**
COUNSELING on my credit Report. However, this will not effect my FICO score.
**
OR Mail to: Pioneer Credit Counseling
HO Use: PO Box 6860
Verified on Phone / Date__________Initials___________ Rapid City, SD 57709 PREN10, 6-07
that the Credit Report will remain in the possession of PIONEER CREDIT COUNSELINGor its Counselors.
Pioneer Credit Counseling fully acknowledges and complies with the
requirements imposed by the Consumer Credit Reporting Reform Act of 1996 .
Fax to: 605-348-8537
_________________________________________ ____________________________
Signature Date
obtain my Credit Report solely for the purpose of Consumer Credit Counseling.
I am aware that requesting my Credit Report will reflect as a “Soft Inquiry” by PIONEER CREDIT
I acknowledge that I have NOT been charged more than $5.00 (if any) to review my Credit Report and
CREDIT REPORT REQUEST FORM
Creditsoft ID #
I hereby give my permission for PIONEER CREDIT COUNSELING to
Pioneer Credit Counseling’s Housing Counseling Program Disclosure Purpose of Housing Counseling: I/We understand that the purpose of the housing counseling program is to provide one-on-one counseling to help customers fix those problems that prevent affordable mortgage financing. The counselor will analyze my/our financial and credit situation, identify those barriers preventing me/us from obtaining affordable mortgage financing, and develop a plan to remove those barriers. The counselor will also provide assistance in debt-load management with the preparation of a monthly and manageable budget plan. I/We further understand that it will not be the responsibility of the counselor to fix the problem for me/us but rather to provide guidance and education to empower me/us in fixing those issues preventing affordable mortgage financing. Mortgage Financing Assistance: Upon completion of the housing counseling program, I/we understand that the counselor will help to identify those loan programs that best meet my/our needs and offer assistance with choosing a lender that is right for me/us. I understand however, that I/we are under no obligation to use any specific resources that Pioneer Credit Counseling has established a working relationship with. Upon completion of the program, and with my/our permission, my/our customer information will be transferred to my/our selected lender. I/We understand that the counselor will monitor my/our loan progress to ensure the loan process runs smoothly and provide assistance as needed. I/We understand that the counseling agency does not guarantee that I/we will receive mortgage financing from the chosen lender. Applicant Signature ____________________________ Date ________________ Co-Applicant Signature _________________________ Date ________________
1644 Concourse Drive Rapid City, SD 57703 Phone: (605) 348-1608
Gross Net
1st Household Income $_______________ $______________
2nd Household Income $_______________ $______________
Net Working Income $______________
Fixed Expenses
Mortgage $__________
Tithe/Church $__________
Lot Rent $__________
Condo Fees $__________
Heat $__________
Electricity $__________
Water/Sewer/Garbage $__________
Telephone $__________
Car Insurance $__________
Car Payment $__________
Car Payment $__________
Gas to Work $__________
Health Insurance $__________
Life Insurance $__________
Food/Household $__________
Child Care $__________
Alimony/Child Support $__________
Total Fixed Expenses $______________
Flexible Expenses
Car Repairs $__________
Recreation/Entertainment $__________
Dry Cleaning/Laundry $__________
Clothes $__________
Cable TV $__________
Medication $__________
Student Loans $__________
Loans $__________
Credit Card Payment $__________
(all credit cards)
Total Flexible Expenses: $_____________
TOTAL EXPENSES: $_____________
Working Amount: $_____________
-$_____________
Monthly Budget Worksheet
Use this worksheet if your income typically comes at the same time each month
Updated 12-12-06 1
PCC Monthly Education Workshop
Date: _________Inst. Initials:______ _
Location: ______________________
Education Offered: ____________________
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