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Financing Home Repairs & Financing Home Repairs &
Improvements
Improvements
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Phyliss Gains
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So you want to fix up your home,
but you’re not sure of the best way to
get the money to do it. The Portland
Housing Center has the answer in its
free class on “Financing Home Re­
pairs & Improvements.” The class
will be Tuesday, May 11 at PCC Cas­
cade Campus, Cascade Hall, in Room
C-3 from 6:30 - 8:30 p.m.
The home repair class will cover
the standard home equity loan and
how the value (equity) in a property is
determined. The application process
will be explained as well as the factors
that make up the loan approval crite-
ria. In addition, alternative credit op­
So you want to fix up your home,
tions in the form of special loan pro­ but you’re not sure of the best way to
grams will be highlighted. There are get the money to do it. The Portland
a wide range of loan programs avail­ Housing Center has the answer in its
able to assist homeowners that will be free class on "Financing Home Re­
explored.
pairs & Improvements ” The class
The class instructor is Phyliss will be Tuesday, May 11 at PCC Cas­
Gaines, a consumer loan officer for cade Campus, Cascade Hall, in Room
Key Bank of Oregon in the Commu­ C-3 from 6:30 - 8:30 p.m.
nity Services Department. She will
The home repair class will cover
provide additional information on es­ the standard home equity loan and
tablish ng and maintaining good credit how the value (equity) in a property is
and how the homeowner can best determined. The application process
make their most important asset, their will be explained as well as the factors
home, grow to benefit the homeowner, that make up the loan approval crite­
their neighborhood, and their com­ ria. In addition, alternative credit op­
munity.
tions in the form of special loan pro­
The "Financing Home Repairs & grams will be highlighted. There are
Improvements” class is free. Attend­ a wide range of loan programs avail­
ees should bring a copy of their most able to assist homeowners that will be
recent property tax assessment state­ explored.
ment and a calculator. Registration
The class instructor is Phyliss
will be taken at the door, but individu­ Gaines, a consumer loan officer for
als can call 282-7744 for more infor­ Key Bank of Oregon in the Commu-
mation.
The Portland Housing Center is a
private, non-profit agency' that pro­
vides information, education and coun­
seling for home buyers and ow ners. A
program of Ecumenical M inistries of
Oregon, the Portland Housing Center
is supported by a partnership of pri­
vate and public funds
nity Services Department She will
provide additional information on cs-
tablishingand maintaining goodcredit
and how the homeowner can best
make their most important asset, their
home, grow to benefit the homeow ncr,
their neighborhood, and their com­
munity.
The "Financing Home Repairs &
Improvements” class is free Attend­
ees should bring a copy of their most
recent property tax assessment state­
ment and a calculator Registration
w ill be taken at the door, but individu­
als can call 282-7744 for more infor­
mation
The Portland Housing Center is a
private, non-profit agency that pro­
vides inform ation, education and
counseling for home buyers and own­
ers. A program of Ecumenical M inis­
tries of Oregon, the Portland Housing
Center is supported by a partnership
of private and public funds.
ATTENTION
HOMEOWNERS
Portland Housing Center’s
Up-Coming Classes
**
Wednesday, May 12th
Tuesday, May 11th 6:30-8:30pm
PCC SE Center
PCC Cascade Campus
(2850 SE 82 nd) Room #C-2
(705 N Killingsworth)
NOW is the right time to learn
Cascade Hall #C-3
more about Home Re-Financing. Find
W ith Sum m er alm ost h ere, out about conventional loans, when to
Home O w ners are b eg in n in g to finance, how to find the right pro­
tackle those major projects of re- grain, 2nd mortgages, and whether to
conditioning, remodeling, or basic sell. T a u g h t by C h ris B o n n er,
repairs, lower income homeowners Bridgetown Realty, and Sue Fillman,
can learn about financing these W ashington Mutual Savings,
im provem ents in a class offered
The Portland Housing Center
by the Portland H ousing C enter regularly sponsors classes for Home
called “Financing Home Repairs” , owners and Buyers. These classes are
T aught by Phillis G aines of listed in the PCC Catalog under the
Key Bank, this class will explore C o m m u n ity E d u c a tio n se c tio n ,
o p tio n s fo r hom e o w n ers w ho Classes are free, and registration is
have limited income and/or equity taken at the door. Call Portland Hous-
in their homes, or have concerns jng Center for additional class infor-
about past c r e d i t . __________ ____ mation, 2 8 2 -7 7 4 4._______________
2 5 HOMES
WANTED
I MAIL COUPON OR CALL I
I ANDERSON BUILDERS &
CONSTRUCTION, INC.
' ’
*. 1 ors
(Under Supervision-
Fully Guaranteed)
To Install
03736661
3511 N.L 74 th Poitland, OR 97213
(5 03 ) 281-1855
I
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NEW 1993
Vinyl Siding
I
I
Low-income Oregonians seeking critical support for the production o f
affordable housing have found valu­ decent, affordable rental housing while
able new supporters with the forma­ receiving a tax credit that may be
tion of the Oregon Corporation for applied against their federal tax liabil­
Affordable Housing (OCAH), an­ ity
“This gives corporations an op­
nounce at the Sally McCracken Build­
portunity
to show their interest in
ing in downtown Portland
An unprecedented public-private their local communities by helping
partnership. OCAH is dedicated to fund affordable housing for low in­
the construction, development, and come Oregonians,” said Oregon Hous­
rehabilitation of affordable rental ing & Community Services Depart­
housing for lower-income families ment Director Rey Ramsey. "Histori-
and individuals in Oregon OCAH is cally, many o f the developers of low-
working with the Enterprise Social ncome housing arc nonprofit organi­
Investment Corporation (ES1C) to zations who have a limited record in
establish a fund that has the potential development and therefore, have dif­
to provide millions of dollars to fi­ ficulty marketing tax credits. This
nance the construction and rehabilita­ new partnership is an example of gov­
tion of quality affordable rental hous­ ernment creativity by using the pri­
vate sector to improve its serviced
ing in Oregon
The Fund, to be known as the delivery.”
Since the inception of O regon’s
Oregon Equity Fund, is expected top
be supported primarily by Oregon- Tax Credit Program in 1088, the O r­
based corporations and financial in­ egon Housing & Community Serv ices
stitutions. It is expected to invest in Department has helped to finance
rental housing eligible for the federal 7,160 low-income rental units It is
estimated that almost all of the units
Low-Income Housing Tax Credit
"The use of tax creditjinancing rent for less than $475 per month. The
to support low -incom e h o u sing tax credit has accounted for about one-
projects is an opportunity for the pri­ third all multi-family rental housing
vate sector to show its support and construction starts and virtually all
interest in developing much needed low-income rental housing construc­
projects throughout the state of O r­ tion in Oregon and nationwide.
OCAH and ESIC, an experienced
egon,” said John R. Olsen, Senior
tax
credit
equity fund manager, are
Vice President Investments, Standard
expected
to
serve as co-general part­
Insurance Company. Olsen announced
ners
of
the
Oregon
Equity Fund. Only
that Standard is consideru g a sub­
six
other
states
in
the country have
stantial investment over t’’ next five
similar equity funds
years.
For further information, contact
By investing in hens a? eligible
the
Oregon
Housing and Community
for the federal Low-Income Housing
Services
Department
at 373-1616.
Tax Credit, corporations can provide
ADDRESS
I
100%
AS
SEEN Financing
ON TV ^OÁC.
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CITY
phone
“ “ ÁÑXÍ35RP
CCB#526O3
NECDC
SUPPORTS
FIRST-TIME
HOME
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currently paying in rent?
If you are looking for a flexible hom e­
ow n ers p la n a n d a ffo rd a b le q u a lity
In a
diverse neighborhood, you could benefit Irom our
program.
If you are:
Bad credit stopping you'1 Through the Nehcmiah
• A first-time home buyer
• A wage earner whose total family income docs not
Housing Opportunity Program. NECDC has been
able to help individuals with past credit problems
exceed $39,200 annually
seeking new ways
Why rent when you may be able to own
your own home for less than what you aie
aren’t sure you can afford it?
P a tti B a rm e ttlv r
The energy of
• A tenant paying more than $400 in monthly
and even bankruptcy purchase their ow n homes So,
don't give up your hope of home ownership until
rent
You may be qualified to purchase a 3 bedroom.
you've tried all avenues
1 1/2 bath home featuring a fully equipped kitchen,
Stop dreaming and start living i n a house of your
h u n d r e d s of lo c a l
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information of the Nehcmiah first-time home buyers
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While we can’t guarantee what the future
At home or on the ¡oh, we ve got the know­
holds, we can guarantee our continued com­
how and energy to meet your needs. Now, and
m itm ent and energy to delivering quality
in the future.
O ur continuing goal is to ensure reliable,
NAME
Affordable Housing
Receives
Corporate Support
compatible and
in s id e P acific
service at a competitive price.
I
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