YVHA to hold homeowner education

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— Yampa Valley Housing Authority Executive Director Elizabeth Black knows the hardships of being a first-time homebuyer.

Dealing with payments, budgeting, creditors, mortgages and the dense lingo can be overwhelming.

That's why, with the help of the YVHA, Black's holding a Homebuyer Education Class on Saturday from 8:30 a.m. to 3:30 p.m. in Room 200 of Bogue Hall at Colorado Mountain College.

Black, who has been holding the classes for about a year, said the feedback she gets from those who attend the class has been positive.

"People have to recognize the situation they're in," she said. "This class is about being prepared and understanding the real estate procedure : It's a whole esoteric field that people don't know about if they've never been a homeowner."

Topics covered in the class include buying versus renting, spending plans, budgeting plans, credit, what creditors look for, what certain documents mean, the real estate process and terms associated with home buying.

"It's a personal finance and home buying education 101 course," Black said.

With completion of the class, people will receive a certificate from the Colorado Housing and Finance Authority that makes them eligible for CHFA loans and help with down payments.

To date, Black said CHFA has helped people with down payments between $5,000 and $30,000.

There still is room left for Saturday's session, Black said. People can register with YVHA by calling 870-0167. There is a $25 reservation fee that is refunded.

Those unable to make Saturday's class also can sign up for a class May 19 or June 2.

- To reach Luke Graham, call 871-4229

or e-mail lgraham@steamboatpilot.com

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