IDA Success Story: Cheryl Ross, "A Wonderful Life is What You Make."

A wonderful life is whatever you make it. I grew up in public housing and lived on a low-income status all of my life. One Sunday morning I read a newspaper article about a woman with the same circumstances. I read about how the IDA program helped her to become a homeowner, and she said how happy and thankful she was to be able to become a homeowner. I filled out an application not feeling confident that it would work for me. I met some good people with the same circumstances as myself. I never felt lost or confused because a coach was just a call away. I have always been looking for something better for me and my three daughters. My oldest daughter is a college student at North Carolina State University, and the nine and fourteen year olds are looking forward to also attending college.

Upon acceptance into the IDA Program I found the economic literacy classes very helpful in getting me organized and preparing a budget. The instructors were very personal and helpful, and the coaches kept encouraging me. I am now a very proud homeowner with a three bedroom home with two full baths, cathedral ceilings, a deck, three acres for a backyard, walk in closets, gas logs, central air, and a two car garage. I will never have to move again because I have found what I have always wanted. My advice to everyone in the program or considering the program is don’t start looking for houses too early. However, watch your budget and cut out things you don’t need. Also try to save more than one thousand dollars for you will want to buy some things for your house when you move in. Please be patient, and use every resource that is available to you. Ask questions, this is your future. A wonderful life is what you make of it.

IDA Success Stories: Ms.T

Ms. T, a mother of three, was already enrolled in the IDA program when disaster struck. One afternoon she received a call that a fire had destroyed her apartment and all her belongings. To her get her family back in order, Ms. T was enrolled in the Self-Sufficiency Program through the Experiment in Self-Reliance. This program could assist with payment of utilities so she could focus on using her earned income for her IDA payment and rent. Ms. T was moved to another apartment and continued to work. Although the Self-Sufficiency Program was there to support her, Ms. T insisted on providing for her family with her own income.

Soon after her move, Ms. T lost her employment. Undaunted, she continued to search for an alternative. She was able to find employment cleaning homes, making just under $200 per month. Despite this hardship, she kept a positive attitude and continued to make her IDA deposit monthly. Ms. T was determined to find better employment, and applied for several jobs. After a number of interviews, she was offered and accepted a position with Bell South. With her increased income she was able to save above the $1,000 required by the IDA program.

After experiencing much heartache, Ms. T was able to achieve her dream on May 8^th, 2001. On that date, Ms T closed on her first house, and is looking forward to making it a home for her and her children.

An Interview with IDA Partner Sylvia Neely

What does the Housing Authority do for this community?

The Housing Authority of Winston-Salem’s (HAWS) mission is to create and maintain sustainable communities through partnership to benefit the residents of Winston-Salem. The vision of  HAWS is to create a self-sustaining affordable housing and real estate development organization.  The Section 8 Housing Choice Voucher Program is a subsidy assisted housing program that provides adequate, affordable, viable, quality housing, and community supportive services emphasizing self-sufficiency for low and moderate income families. 

What is your role with the organization?

My position at the Housing Authority of Winston-Salem is the Family Self-Sufficiency  (FSS) Coordinator.  My role is to coordinate resources and services for Section 8 Housing Choice Voucher Program families through the public and private sector to enable assisted families to achieve economic self-sufficiency.  The objective of the FSS Program is to reduce the dependency of low income families that are receiving public assistance such as welfare assistance, Section 8, or any other local rent or homeownership program.

The FSS Coordinator will try to provide the resources and services that are listed in the program family’s Individual Training and Service Plans by linking them to resources, services, and economic opportunities that will lead to employment, economic self-sufficiency and homeownership.  A Program Coordinating Committee is formed by the FSS Coordinator to obtain commitments from service providers who will perform the hand-on services to the FSS participating families.  The FSS Coordinator will monitor the progress of the participant’s plan, and establish an escrow account for them once they have obtained an increase in earned income while trying to complete all other goals listed in their Individual Training and Service Plan.   It is the FSS Coordinator’s responsibility to see that the family is paid the balance in the FSS escrow account upon successfully completing their Contract of Participation. 

Why did you become a part of the IDA Program?

Since 75% of the Section 8 FSS participants have a final goal of purchasing a home through the Section 8 HCV program or purchase homes on their own without Section 8 subsidy, HAWS has partnered with the New Century Individual Development Accounts Program to assistant in providing pre-post homeownership training, financial economics, and down payment assistance to our participants.  I highly recommend this program, even though it is optional for them to enroll in the IDA program.

How have you personally seen this program benefit people and the community?

I have personally seen the IDA Program benefit people and the community by providing a match of $3,000 or $2,000 to the client’s $1,000 saved out of pocket. It is required that the IDA clients save at least $1,500 in which it allows them to have some money left in reserve since most lenders require homeownership applicants to have money left in reserve, and they are not using all of their money for down payment.   Also, it benefits the low and moderate income community in purchasing a home, since most of them have a limited amount of income, and wouldn’t qualify on their own to purchase a home since they would have to come up with at least 3% - 5% in down payment assistance. The program also benefits clients in budgeting and credit repair.  The coaches, are beneficial in keeping clients on track of becoming mortgage ready.   If it wasn’t for the IDA program there will be less homeowners in the community.

The Housing Authority of Winston-Salem’s (HAWS) mission is to create and maintain sustainable communities through partnership to benefit the residents of Winston-Salem. The vision of  HAWS is to create a self-sustaining affordable housing and real estate development organization.  The Section 8 Housing Choice Voucher Program is a subsidy assisted housing program that provides adequate, affordable, viable, quality housing, and community supportive services emphasizing self-sufficiency for low and moderate income families.