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Wednesday, February 13, 2002 Workshops available for home buyers The Home Buyers Assistance Foundation (HBAF) conducts free Home Buyers Education Workshops on the first and third Saturdays each month. The two-hour sessions, which begin at 10 a.m., are held at the Home Ownership Center, located at 242 East Stockbridge Rd., Suite 11, in Jonesboro. Reservations can be made by calling 770-471-6890. Karl Miller, HBAF deputy director, said the workshops offer prospective homebuyers "the A to Zs of homebuying," including how to find a good Realtor, how to select a good builder, mortgage products, and down payment information. Instructors include Miller, HBAF Senior Housing Counselor Bonita Sales, and other foundation representatives, as well as representatives from HBAF's lending and real estate partners. The foundation is a nationwide nonprofit, non federally-funded organization created in 1992 to provide potential homebuyers with down payment assistance, as well as pre and post purchase education. Free counseling is also available. The down payment assistance program helps homebuyers achieve the "American Dream of home Ownership" through a flexible gift funds program. Miller said the program provides the client up to a 7.5 percent gift to assist with the down payment on a new home. "It is truly a gift it cannot be repaid under any circumstances," he pointed out. The gift money can be used in several different loan programs, including FHA, VA, Freddie Mac and Fannie May loan products, bank portfolios and non-conforming loan products, and HBAF requires the purchaser to have at least one percent of their own funds in the loan transaction. The HBAF down payment gift program is funded through annual donations from corporations, as well as contributions from builders and home sellers who have taken advantage of the program.
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