Operation Threhsold is a HUD-approved counseling agency. The Housing and Fair Lending program offers comprehensive financial and home-buyer classroom education services and indivdidual counseling services.
1) Homebuyer Education
Classes: Both the pre- and post-purchase homebuyer education classes are taught in four sessions over the course of a month. Class topics include financial management and budgeting information, energy conservation, anti-predatory lending information, and home maintenance.
Pre-Loan (Purchase) Counseling includes:
- Understanding the home-buying process and the key players
- Decide how much home you can realistically afford
- Review your credit and help you prepare your credit for home ownership
- Develop a savings plan for your down payment
- Decide what kind of mortgage is right for you
Post-Purchase Counseling includes:
- Understanding the different financing options: Home equity loans, refinances, home equity lines of credit
- Consequences of delinquency/default mortgage payments
- Budgeting and Building and Emergency Fund Reserve
- Foreclosure prevention counseling
- Home maintenance and repair
2) Anti-predatory lending education. Predatory loans may include pay day loans, car title loans, rapid refund loans, home equity loans, home equity lines of credit loans. Our counselor presents anti-predatory lending information to public forums, church groups, housing fairs, and other public outlets.
To schedule a presentation for your group, contact our Lead Housing Counselor, This e-mail address is being protected from spambots. You need JavaScript enabled to view it .3) Financial Literacy Education
Credit Counseling includes:
- Advice on managing and budgeting your money
- Steps to rebuilding your credit
- Identifying solutions to your current financial problems
- Developing a personalized savings/spending plan to help prevent future financial difficulties
- Danger of payday lending, car title loans, rent-to-own purchases
- Understanding debt consolidation loans
- Foreclosure Prevention Services, click here to view.
CASH Course: This is a free four-week program designed to teach people about money management, credit banking issues, identity theft and getting a loan. The class sessions are taught by experts from several area agencies, including Operation Threshold.
- To view the CASH Course Brochure, click here.
Volunteer Income Tax Assistance: This service is provided from late January through early March in Black Hawk Buchanan and Grundy counties. Tax forms are prepared for free by trained volunteers for low-income families. This program promotes the use of the Earned Income Tax Credit (EITC) Program to help insure that low-income people are accurately receiving their income tax refunds.
Loan Document Review Counseling: Make an appointment to visit with one of our housing counselors before you sign your loan documents. One bad loan and you could lose your home or damage your credit.
*There are no income limitations to this program, all are eligible, regardless of level of income. Home Buyer Ed and Post Purchase classes cost $25. All other classes offered through the program are free of charge.
For a downloadable brochure, click here.
