Genesis Housing Corporation develops affordable housing and provides free housing counseling services to help educate consumers on housing and financial issues. Our general activities include the rehabilitation of homes to improve and stabilize neighborhoods and to provide safe and decent housing for lower income families. Genesis Housing Corporation also provides housing counseling, credit, money management and foreclosure prevention services.
Improving credit scores is a very complex issue. There are five main factors that affect a person’s FICO score. Genesis Housing Corporation teaches a free (two-hour) class on Understanding Credit, which breaks down this topic into understandable language. We also have funding from the Montgomery County Housing and Community Development Department to provide free credit reports with scores for students in our class. Following the class, we encourage every student to set up an individual session where we review in detail your credit report, and develop a Plan of Action for the next 6-9 months. This usually ties together a Money Management Strategy as well. Since these topics are closely related, we usually recommend our class on Money Management, where we explore topics related to spending (all spending, not just bill paying) and why families at many different income levels often seem to struggle financially.
Our class on Home Buying Basics takes you step by step through the home buying process, and the order in which to do them. We cover what lenders look for so that you can determine if you are ready to buy and how much you can afford. We talk about special mortgages and grants for first time home buyers, choosing a lender, a realtor and understanding the bidding process, the basics of the Agreement of Sale, and how much money you will need to be able to buy. Our individual sessions are designed to help you calculate an affordable price range and explore multiple options mortgage and grant that may be available to you.
Genesis Housing Corporation does not give grants for closing costs, but we are very familiar with a number of grant providers and work closely with many programs for first time home buyers. Our free class on Home Buying Basics covers a review of these grants and an individual session can help determine if I may be eligible for any of the programs
Our Money Management Class focuses on topics relating to spending habits and reducing other spending areas to get focused on a “needs only” budget in tough times. In addition, we work with existing homeowners who are delinquent on their mortgage or their taxes, to develop a strategy to attempt to get caught up, by analyzing spending patterns and helping them set up a realistic budget, while talking to the lender or tax collector on their behalf to consider options to help them get back on track.
No, Genesis Housing is unable to assist with any financial payments but there are some services provided by the County that may be of assistance if you are a resident of Montgomery County, PA.
Montgomery County Contact Numbers:
- If you are actively homeless or facing homelessness, please contact Your Way Home at 1-877-646-6306.
- For general information or to find out if there is a County agency that may be of assistance, contact the Personal Navigator Program at 1-800-591-8234.
- Montgomery County Aging and Adult Services provides a wide range of services and their intake phone number is 610-278-3601. While Montgomery County Aging and Adult Services does not provide financial assistance, it does provide information on possible community resources.
- Montgomery County Housing & Community Development offers a homeowner rehab grant program for most of the County. To be added to the waiting list, call 610-278-3540. Please note that homeowners in Abington, Conshohocken, Limerick, Lower Merion and Norristown should contact their municipality directly for any homeowner rehab programs.
- For Montgomery County Veterans, information on benefits can be provided by the Montgomery County Veterans’ Affairs Office at 610-278-3285.
Does Genesis Housing have rental units?
Sometimes Genesis Housing has a limited number of affordable rental units available but most of time, all of the units are leased. Any available units would be listed on our home page. We also list any available units on the PA Housing Finance Agency site – www.pahousingsearch.com. This list provides information on affordable rental units in PA.