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| Quarterly Newsletter |
Jan 2013 |
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2013 Homebuyer
Workshop Schedule |
 Workshops are free to attend
Attendees MUST first submit a completed client intake packet before workshop registraion
Oahu
Kapolei - DHHL Hale Ponoi
8:30a - 5p
Waikele - Century 21
8:30a - 5p
Honolulu - HCA Office
8:30a - 5p
- Feb 2nd
- Mar 2nd
- Apr 6th
- May 4th
- Jun 1st
- Jul 6th
- Aug 3rd
- Sept 7th
Maui
Wailuku - Queen Liliuokalani Children's Center
8:30a - 5p
- Feb 23rd
- Mar 9th
- Apr 20th
- May 18th
- Jun 22nd
- Jul 20th
- Aug 17th
- Sept 28th
Molokai
Kaunakakai - Molokai Affordable Homes & Community Development Corporation
8:30a - 5p
Lanai
Hilo - Hawaii County Office
Building
8:30a - 5p
- Feb 2nd
- Apr 6th
- Jun 1st
- Aug 3rd
- Oct 5h
- Dec 7th
includes 2 part workshop series
5p - 9p
- Feb 12th & 14th
- Mar 19th & 21st
- Apr 16th & 18th
- May 14th & 16th
- Jun 18th & 20th
- Jul 16th & 18th
- Aug 13th & 15th
- Sept 17th & 19th
- Oct 15th & 17th
- Nov 19th & 21st
- Dec 17th & 19th
For more information or to register for a workshop in your community, contact HCA at (toll-free) 1.866.400.1116.
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JANUARY 21st
Buy a Pizza,
Invest in
Youth
Financial Education!
On January 21st, HCA is teaming up with Pizza Hut locations across the state to raise funds for its Kahua Waiwai Youth Financial Education Program.
1. Complete this form
2. Order a Pizza Hut pizza, and
3. Invest in our next generation!
All proceeds raised will go to Support HCA's Kahua Waiwai Youth Financial Education program so it can be offered for FREE to Hawaii youth statewide! |
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Hawaiian Community Assets (HCA) is a HUD approved housing counseling agency and Native community development financial institution. HCA offers this quarterly newsletter to provide you with updated information on current programs and services.
HCA's mission is to build the capacity of low and moderate income communities to achieve and sustain economic self-sufficiency with a particular focus on Native Hawaiians.
HCA programs and products include:
- Renter Education and Counseling
- Pre-Purchase Homebuyer Education and Counseling
- Post-Purchase Education and Counseling
- Foreclosure/Lease Cancellation Prevention Services
- Youth and Family Financial Education
- Youth and Renters MATCH Savings
- Tax and FAFSA Preparation Services
- Credit Builder Micro-Loans
- Loan Packaging
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Expand Access to Affordable Rental Housing
Report: HCA Assists 39 Homeless Families Secure Rental Housing
WAIANAE - In its recently released Year 2: Annual Shelter Project Report, HCA identified its success in assisting 39 homeless families secure rental housing since October 2010. The outcomes are a result of HCA's 3-year, $1.1 million Financial Literacy/Renter Education and Credit Counseling for Homeless Residing in Transitional Shelters on Oahu's Waianae Coast Project funded by the Federal Administration for Native Americans and State Office of Hawaiian Affairs.
 The goal of the project is to deliver place-based financial literacy/renter education workshops, individualized credit counseling, and innovative financial products to shelter residents at Kumuhonua, Ulu Ke Kukui, and Ohana Ola O Kahumana Transitional Shelters with the goal of increasing transition rates into permanent housing and to lay a foundation for long-term financial success. In the project's first 24 months, HCA has served 290 shelter residents.
Key Findings of the Report include the following:
- Shelter residents identified the two primary barriers for transition into permanent housing as 1) Income and 2) Credit.
- A disproportionate percentage of Native Hawaiians reside in transitional shelters on the Waianae Coast (54% at targeted shelters) than reside in Hawaii (22%).
- Shelter resident households consist primarily of families with at least 1 dependent followed by individuals and couples.
- The average annual pay rate of shelter residents is $987.75/month, or $11,709.00/year, which is less than the State's poverty level threshold.
- Employed shelter residents would have to work 104 hours per week, or 2.6 full-time jobs, for 52 weeks to secure and sustain an "affordable" 1-bedroom rental at Fair Market Rent for Honolulu County.
- Native Hawaiian shelter residents report an alarming unemployment rate of 60%; highest among all demographics served.
- 9 out of 10 unemployed shelter residents rely on public benefits to prevent homelessness.
- 100% of homeless individuals who successfully graduated from Hawaiian Community Assets' Renters MATCH Savings Account secured rental housing within 12 months of enrollment.
- 70% of homeless individuals who successfully graduated from Hawaiian Community Assets' Credit Builder Micro-Loan product secured rental housing within 12 months of enrollment.
- 13% of homeless individuals who received HUD-approved financial literacy/renter education and credit counseling secured rental housing within 24 months.
Alice Amina, a native Hawaiian Beneficiary and Renters MATCH Savings graduate, shared her experience with the program in her own words.
 Whom would have ever thought that by moving to a Transitional Shelter that I could meet someone who cared enough to take the time to share about what Hawaiian Community Assets has to offer me.
On fixed income, no nothing to show after all these years I've been a care giver - Mother and Grandmother of alot. I lived month to month, not going no where but broke all the time. I asked the question: Can you help me start a new life?
One on one case management to head ahead is what I received by attending a workshop for financial independence. I have received my certificate of completion and so did 10 other family members who also attended and lived at the shelter! One on one I loved working with Ms. Meheula to help me save money over the last 8 months, that, I would have never had done. Once a month appointments where I would show my receipts to Ms. Meheula and she would say, "great job! Keep up the good work!"
And now I have received my home with Hawaii Public Housing! My (Renter) match saving helped me pay my rent and electricity for about a year or a little more than 11 months so that I may continue paying other bills to stay on track being debt free and so in the future I may be able to build my own home!
Thank you Ms. Meheula and Hawaiian Community Assets for always being there for me. Mahalo nui loa. Please continue to help others as you have helped me! |
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Stop Needless Foreclosures
New Foreclosure Campaign Announced
HAWAII - On January 11, the Hawaii State Attorney General, Department of Commerce and Consumer Affairs (DCCA), State Senator Roz Baker, and HUD housing counseling agencies joined together at an announcement of DCCA's statewide public awareness campaign to educate homeowners at-risk of foreclosure and direct them to services to address their mortgage situation. Funding for the campaign came from the $25 billion National Mortgage Settlement between 29 State Attorneys General and the 5 largest financial institutions in the United States.
As part of the campaign, the DCCA will run television ads and has launched HFIC.Hawaii.Gov, the Hawaii Foreclosure Information Center, to direct Hawaii families to free HUD housing counseling and the Office of Consumer Protection (OCP) if they have been victims of loan rescue scams.
"There are many people who have been paralyzed by the fear of losing their homes," DCCA Director, Kealii Lopez said at the event. "We want them to know there is hope."
A key part of the campaign will be the OCP's efforts to prosecute loan rescue scammers posing as legitimate businesses and charging an upfront fee to homeowners for foreclosure prevention services only to take the money and never be heard from again. Loan rescue scams became a felony offense in the State of Hawaii after passage of legislation during the 2012 legislative session.
"These people (scammers) have no conscience. They deliberately target homeowners who are worried about losing their homes and give them a message of hope, while they plot and scheme to take their money," said OCP Director, Bruce Kim who is leading the charge against the loan rescue scammers.
If you or someone you know has been a victim of a loan rescue scam, visit HFIC.Hawaii.Gov or call the State Office of Consumer Protection at 808.587.3222.
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HCA to Dedicate $575,500 to Serve Hawaiian Home Lands Beneficiaries At-Risk of Foreclosure
In addition to DCCA's efforts, HCA was among 5 HUD housing counseling agencies to receive National Mortgage Settlement funds from the Hawaii State Attorney General for the delivery of free foreclosure prevention services over the next 3 years.
"Unfortunately, there has been an extreme lack of financial resources made available to address the rise in mortgage delinquencies on Hawaiian Home Lands, " says HCA Executive Director, Jeff Gilbreath, noting the influx of FHA 247 borrowers coming to the organization. "We mahalo the Attorney General for using the National Mortgage Settlement funds for their intended purpose. HCA will dedicate its resources to bring free HUD housing counseling services to our Hawaiian commumnities and engage entire neighborhoods in helping to stop needless foreclosures and protect homeownership for future generations."
HCA's efforts were enhanced with a $70,000 grant from the National Coalition for Asian Pacific Americans for Community Development as well as its partnership with the Corporation for National and Community Service Hawaii State Office, which will provide the organization with 1 AmeriCorps VISTA member who will dedicate their year of service toward public education/outreach to Hawaiian Home Lands communities hardest hit by mortgage deliquencies.
To receive free foreclosure prevention services, contact HCA at (toll-free) 1.866.400.1116 or download a Foreclosure Client Intake Packet today at HawaiianCommunity.Net. |
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Is Your Family Facing Foreclosure or Lease Cancellation
on Hawaiian Home Lands?
1.866.400.1116
Free help with:
- Work Out Plans
- Reducing Your Payments
- Accessing a Beneficiary Advocate
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Revive a Sustainable Path to Homeownership
HCA Helps Hawaii Island Families Purchase Affordable Homes
HAWAII ISLAND - HCA Hilo Community Services Specialist, Kelly Lincoln, reported that her office assisted 8 Hawaii Island families purchase homes in the 3rd quarter of 2012.
HCA implements a comprehensive pre-purchase homebuyer education program to assist low- and moderate-income first-time homebuyers purchase homes and establish a sustainable pathway to long-term financial success. The program includes community outreach, free group homebuyer workshops and individualized financial counseling, referral to asset building programs, such as free tax preparation and grants for down payment and closing costs, and assistance in accessing affordable mortgage financing through its community lending program, Hawaii Community Lending.
"Families who have purchased recently were able to do so because they engaged in hours of education and counseling to become financially qualified homebuyers," says HCA's Lincoln. "For our low-income families especially, the more time they have to repair credit and build savings, the more opportunities become available for them to achieve the dream of homeownership."
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At Closing |
Average | |
Annual Household Income |
$30,541 | |
Household Size |
3.9 | |
Household Savings |
$3,254 | |
Credit Score |
671 | |
Counseling Hours Received |
13.75 | |
Purchase Price |
$165,165 |
Between July and September 2012, Ms. Lincoln worked one-on-one with the families and in partnership with nonprofit housing developer, Hawaii Island Community Development Corporation, United States Department of Agriculture (USDA), and Home Street Bank to close on affordable home purchases in Hilo, Kamuela, and Hawaiian Paradise Park. The table (above, right) provides an overview of the average homebuyer among the 8 families assisted through HCA's pre-purchase program.
Most recently HCA assisted 23 year-old Janice Pagdilao in purchasing a fee simple home in Kamuela for $221,257. Ms. Pagdilao had enrolled in HCA's pre-purchase homebuyer education program in February 2012. Over the next 8 months she completed an 8-hour homebuyer education workshop and engaged in individualized counseling with HCA to build savings and improve credit. By September 2012, Ms. Pagdilao had $13,200 in savings for down payment and closing costs and had improved her credit score by 20 points, allowing her to secure loan approval from the local USDA office for purchase of her new home.
By participating in HCA's program, Ms. Pagdilao was also eligible to receive a $500 post-closing voucher as a participant in the Hawaii Family Finance Project (HFFP), a 3-year, $3.1 million pilot project funded by the US Department of Treasury and administered by the Council for Native Hawaiian Advancement to increase the homeownership rates of Hawaii's low- and moderate-income families. HFFP provides free homebuyer education and financial counseling as well as access to grant funds for down payment, closing costs, and debt reduction to further assist enrolled first-time homebuyers.
For more information or to enroll in HCA's pre-purchase homebuyer education program, call (toll-free) 1.866.400.1116 or visit HawaiianCommunity.Net |
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!File Your Taxes for FREE!
If your household earns less than $57,000 a year, don't pay to file your taxes. You can e-file your State and Federal tax returns 2 ways:
1) Call 2-1-1 to find a free VITA tax preparation site in your community
OR
2) Use the IRS-certified Facilitated Self Assistance program.
It's easy, IRS agents are available by phone to assist you.
Click here for more information about the Facilitated Self Assistance program.
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Invest in Our Communities
Catholic Charities & HCA Partner to Build Asset Wealth on Kauai
KAUAI - Catholic Charities Hawaii partnered with HCA's Anahola office in 2012 to implement the Kauai Asset Building Project.
The comprehensive Project provided Kauai residents, who were accessing emergency financial assistance repeatedly, with financial education, budget/credit counseling, and a 2:1 match on savings to break the cycle of dependence. Monthly group workshops and individualized counseling were conducted by HCA's Kauai Community Services Specialist, Desiree Vea, while the project was led by Debra DeLuis of Catholic Charities.
By the end of 12 months, the following results were reported:
- 100% of participants have workable budgets.
- 4 of 6 participants increased their credit scores, with an average increase of 30 points. For the other two participants, this data is not yet known.
- 4 of 6 participants who finished the program show a 20% or better increase in financial assets and all have deposited regularly into savings. For the other two participants, this data is not yet known.
- 100% of participants have retained housing. In the case of two homeless participants, both individuals are now housed.
- Most (75%) of participants are paying 33% or less of their gross income for housing.
- One client got out of a years-long payday loan cycle and has not secured a payday loan since starting the program.
- One client on a fixed income reduced their past-due rent from $5,200 to $2,700 without receiving any financial assistance.
- One client secured steady employment and has a goal of financing the construction of their first home.
- One participant increased their income through starting a micro-enterprise.
- One client who insisted they could not save money has been consistently depositing into a savings account for six months with no fund withdrawals.
Success of the project will result in continued partnership between the organizations in 2013. View the Kauai Asset Building Project Report for more information. |
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Invest in Our Next Generation
Native Bank2 Invests $7,500 in Kahua Waiwai Youth Financial Education
 HAWAII - Chickasaw native-owned and operated, Bank2, recently invested $7,500 to support HCA in the delivery of free Kahua Waiwai Financial Education to 500 Native Hawaiian youth and families over the next 3 years.
"(Bank2) can really see the difference financial literacy training makes in delinquencies and foreclosures of our families," says Bank2 President, Rod Whitson. "It's really simple: people with financial literacy training know exactly what they are getting into before they buy their home. They are clear on the benefits, costs, and the sacrifices. Simply put - they are ready for homeownership."
Bank2's investment is a "down payment" on building future homeowners today for tomorrow. The investment funds will go to purchase HCA's place-based Kahua Waiwai: Building a Foundation of Wealth(c) financial education handbooks. With the handbooks, HCA will reach out to Hawaiian charter schools to promote the delivery of Kahua Waiwai Youth Financial Education in their schools and to perpetuate the learning of financial skills through donations of Kahua Waiwai handbooks to the charter school libraries.
"It is amazing to have a native bank behind our youth initiative," says HCA Youth Program Coordinator, Lahela Williams. "Not only will their investment help us teach our opio, but it will also help revive a sustainable path to homeownership and stop needless foreclosures."
Hawaiian charter schools interested in having HCA teach Kahua Waiwai Financial Education workshops can contact Ms. Williams at 808.587.7660 or via email at lahela@hawaiiancommunity.net.
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