Mi Techo,Inc. provides homebuyer education and counseling services in Spanish and English.
Homebuyer Education
The primary service of the organization is an 8-hour seminar designed for first-time homebuyers. This course is conducted in a group setting and covers all aspects of the homebuying process. This course is conducted in a group setting and covers all aspects of the home buying process. The goal is to prepare consumers- emotionally and financially-for the commitment and investment of buying a home, generally the largest purchase you will ever make. Topics covered in the class include but are not limited to: assessing homebuyer readiness, budgeting and credit, financing a home, selecting a home, and maintaining a home. The curriculum follows the regulations established by the Department of Housing and Urban Development (HUD), the Tennessee Housing Development Agency (THDA), and NeighborWorks America. Mi Techo, Inc. uses the NeighborWorks America Realizing the American Dream textbook along with supplemental materials. Upon completion of the curriculum and counseling, each customer receives a certificate valid for twelve months. A certificate of homebuyer education is increasingly being required by lenders before home loans are approved.
Post-purchase Education
The course focuses on topics that help both new and existing homeowners manage their most important asset. These topics include home maintenance and repair, financial management and budgeting skills, insurance, methods for getting homeowners more involved in their community, early intervention programs to prevent delinquencies and default, and the pros and cons of refinancing.
Counseling
Mi Techo,Inc. also offers additional one-on-one counseling services for individuals who must resolve credit issues before purchasing a home or for individuals who simply need more time and individualized attention during the process. Mi Techo, Inc. emphasizes the importance of credit, financial management, and budgeting in all classes. Upon intake, potential credit problems are identified, and the counselor works individually with customers to develop an action plan to take care of the issues. Together, the counselor and customer prepare a budget, discuss delinquencies negatively affecting the credit report, and develop a strategy to address the delinquencies. On average, each customer receives two hours of one-on-one counseling.