Primary tabs

From Collections to Ownership!

Louisville Man Went from Collections to Homeownership!

Thanks to the Louisville Urban League, Clifton Wade was able to close on his new home after only 18 months! He went from collections to homeownership quickly, due to his perseverance and with the Urban League’s help.

Mr. Wade began Pre-Purchase Counseling to buy a home in April 2016 when he attended our Louisville Urban League’s 2.5 hour budget and credit orientation. He was previously a homeowner, but he’d lost it to foreclosure when he and his wife divorced. Since then, Mr. Wade became dedicated to gaining knowledge about becoming a successful homeowner, improving his credit, budgeting and saving money to purchase his second home.

Referred by a friend who’d completed the program already, Mr. Wade has his Initial one-on-one appointment in May of 2016 with his HUD Certified Housing Counselor. Clifton Wade is a 53-year-old single African American male with no children, who at the time was living on Section 8 and receiving Social Security Disability income in addition to working part-time.  He had no credit scores, no savings, and over $11,000 in collections that he was able to pay, dispute, and/or settle during his time in counseling. While in the program he was able to establish new credit, develop and increase his credit score to over 640, and save $2,000. Mr. Wade completed the 8-hour home buyer education class in March 2017. Mr. Wade met all of the requirements for completing the Home Ownership Counseling and Education program and graduated in November 2017. He received a pre-approval from the mortgage company, worked with a realtor to make an offer on a home, and was able to close the mortgage loan December 28, 2017 just in time for the new year.

Mr. Wade was even able to receive $15,000 in down payment assistance! Happy with the outcome of our program, Mr. Wade has recommended several friends to the program and states that his “counselor was awesome, everything she told me to do she was right about. The whole department has been supportive and friendly. I learned a lot and I’m so happy right now!”

If you or anyone you know would like help buying a home, contact your local Urban League today!