earning and learning: Siletz Saves! celebrates first graduate to buy home
By Yvonne Messmer, Housing Finance
Manager
Hesitant, pessimistic, doubtful –
those were all the feelings Norma Trefren
had when she entered the Siletz Saves!
IDA Program.
Accomplished, confident and finan-
cially smart – that’s how she felt when she
graduated. After three years of learning
and testing herself, she has finished the
program and purchased her first home.
Trefren is glad to pave the way for
other Siletz Tribal members. She is the
first to graduate from the Siletz Saves!
IDA Program and wants others to know
they can do it too.
The program was newly started in
2009 when she signed up. Since then, sev-
eral new participants have begun and are
saving toward their first home purchase.
The program allows participants to
save anywhere from six months up to
three years. They work on increasing their
financial knowledge, paying down debt,
fixing credit issues and saving during their
time in the program.
For every dollar they save, the pro-
gram matches it with three dollars. Par-
ticipants can save up to $1,000 each year,
up to $3,000 for three years total. Those
who save the maximum amount will have
$12,000 available for a down payment on
their first home. This program is available
in the 11-county service area for qualify-
ing Tribal members.
Through the program, Trefren learned
that saving wasn’t easy all the time. She
Norma Trefren (second from right); her mom, Lydia Kentta, and son, Andrew Mike
(both left) and Realtor Zack Zeek celebrate signing papers for the new home.
also realized that when “life happened,”
she had a whole new set of tools to use
that she learned in the program.
When asked how participating in
the IDA Program changed the way she
handles money matters, Trefren said,
“I’ve been able to save, which never was
a priority to me. I know my credit score
and am now more empowered about my
financial well-being. Because I use a bud-
get, I’m able to reduce my budget leaks.”
IDA participants attend a financial
education course and regularly attend
meetings or do exercises that help them
discover how loans operate, how to shop
smart, how to analyze their spending
habits, why goals are important, how to
read their credit report and how to resolve
credit issues.
If you are interested in learning about
finances and want to save money for
the purchase of your first home, contact
Yvonne Messmer at 503-390-9494 or
888-870-9051.
Courtesy photos
The family stops inside the house for a photo.
Siletz Tribal Behavioral Health Programs
Narcotics Anonymous Toll-Free
Help Line – 877-233-4287
Prevention, Outpatient Treatment and women’s and Men’s Transitional
Siletz: 800-600-5599 or 541-444-8286
Eugene: 541-484-4234
They also are able to view their credit
report once a year and get one-on-one
counseling when needed. Some of the key
things Trefren felt she learned include
budgeting, saving and understanding credit.
Trefren and her family are settling into
their 3-bedroom, 2.5-bathroom home. She
enjoys working on her house and started
adding personal touches immediately.
Trefren is making her house into her
home and she thinks this is one of the best
things about homeownership. She is very
proud of reaching her goal.
For information on Alcoholics
Anonymous: aa-oregon.org
Salem: 503-390-9494
Portland: 503-238-1512
Personal Finance and Real estate
YvonneMessmer,HousingFinanceManager•503-390-9494ortoll-free888-870-9051
If homebuying is a goal for you but you aren’t ready yet:
If you are ready to buy a home:
Siletz Saves! IDA Program
Down Payment Assistance Program
If you aren’t ready to buy yet and at least one of these situations sounds like
you, Siletz Saves! might be perfect for you:
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I have some credit issues to clean up.
I don’t have enough income to make a mortgage payment.
I don’t understand how everything works.
I’m still in school but nearly finished.
The IDA Program is a matched savings program. It helps low-income Tribal
members understand their credit, correct credit issues and save toward the
purchase of a first home. Participants make regular deposits into an individual
development account or IDA. The amount saved is then matched $3 for every
$1 saved – a 300 percent return! Participants must save for at least six months
up to three years and attend financial fitness classes.
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Siletz News
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November 2012
You can find out by asking yourself some questions:
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Do I have a steady source of income (usually a job)?
Have I been employed on a regular basis for the last 2-3 years?
Is my current income reliable?
Do I have a good record of paying my bills?
Do I have few or no outstanding debts (like car payments)?
Do I have some money saved?
Do I have the ability to pay a mortgage every month, plus additional costs?
If you answered yes to these questions, then you might be ready. Give me
a call to find out about the Down Payment Assistance Program. It helps with
closing costs and a down payment when purchasing your first home.