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Case Study: NHS Of Chicago

Decent Essays

NHS of Chicago has access to resources that will have a direct benefit to the Chatham Initiative including:
• Pre-purchase homeownership education: NHS delivers a free HUD-certified 8-hour homebuyer education class at its 1279 office and at neighborhood offices on the south and west side of Chicago. Through the classes, NHS delivers instruction on the following topics: assessing readiness to buy a home; money management (e.g. budgeting, credit and saving); credit, credit scores, credit reports; mortgage financing (understanding the process and evaluating loan options); loan application process and requirements; qualifying for a mortgage; shopping for a home; insurance (homeowners, mortgage, title); making an offer; closing process; and maintaining …show more content…

Such one-on-one counseling also includes understanding how much the client can afford to purchase and any steps that need to be taken to repair the household’s credit prior to purchasing a home. The counselor will share affordability information with the Program Coordinator to assist in helping to match the client with one of the homes to be acquired within the Woodlawn neighborhood market.
• NHS Chatham Program Coordinator Buyer-Property “Matchmaking”: After clients have worked with an NHS Homeownership Consultant on a one-on-one basis, the Program Coordinator will work to match prospective purchasers with properties that have been acquired or that are in the acquisition pipeline. Such “matches” will be made based on the buyer’s preference for location and housing types, as well as an understanding of what the buyer can afford to …show more content…

o Construction Management Services: Purchase and purchase-rehab loans with contractor selection, construction oversight and pre-payout inspection services to insure high quality, affordable home improvements. o Site visit & Scope of Work Development: Projects will undergo a healthy and safety inspection by NHS Construction Specialists, who will then assist the homeowner in developing a scope of work for property rehabilitation, including addressing health and safety concerns arising from the inspection. o Contractor selection and bid review: Construction Specialists will help the purchaser solicit bids from a pool of qualified contractors and assist the purchaser in reviewing and evaluating the bids in order to select a contractor for the rehab component of the project. o Oversight, monitoring, and pay-out: When appropriate, NHS’ Construction Coordinator will manage the payment process and release of funds for contractors. Upon completion of work, the NHS Construction Specialist will attend the post-construction walk-through to ensure all work is complete prior to payment being

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