Fall 2021
Hispanic Heritage Month: Recognizing the achievements and contributions of Hispanic American leaders who have inspired others to achieve success
This year SCDHC - FOC would like to highlight our Bilingual Financial Specialist Coach with the Financial Opportunity Center at SCDHC, Teodora (Teddy) Elliott! Teodora has over 27 years of experience within the banking, investment and insurance industries. She has held numerous securities, life and health licenses and worked as an independent agent proving financial solutions and strategic planning for wealth building and financial stability.
As a Bilingual Financial Specialist with SCDHC, she now provides instructional support and counseling for families of low to moderate- income by designing a comprehensive financial plan that meets clients at their needs. Teodora leads training, orientations, credit workshops and intensive outreach to the Latino community. Empowering clients with the tools they need from financial coaching and support that is fundamental in improving the quality of life and assisting in wealth building. Hands-on training and on-going support are the core of services provided in a holistic approach that is part of the mission at SCDHC. She is our Latina Financial Guru!
The Giving Heart Community Thanksgiving Feast
SCDHC is partnering with The Giving Heart for the 2021 Community Thanksgiving Feast. They will be offering FREE meal boxes that include meat, stuffing, mashed potatoes, vegetable, rolls, cranberry sauce, dessert and bottled water. Each box will also have a flyer for SCDHC’s Rent Relief Program to help our neighbors in the Greater Richmond and surrounding areas. Registration for the Community Thanksgiving Feast is required and quantities are limited! To sign up or for more information, please visit www.thegivingheart.org/general- information.
Down Payment Assistance Update
Henrico County Down Payment Assistance returned on October 1ST, and SCDHC is now accepting new applications for down payment assistance in Henrico County. All funding will be first come first serve. SCDHC will not hold any funding unless under contract.
Henrico County has very strict DTI guidelines. Please consult with your Mortgage Lender to determine your qualifications. The mortgage payment needs to stay between 31%-33% of your gross monthly income. The applicants back-end ratio cannot exceed 45%. Sale Price limits are also implemented with this assistance. Existing Home maximum sale price ($230,000), New Construction maximum sales price ($276,000). If eligible, you can receive up to $7,500 in assistance. Please contact our office at 804-231-4449 Ext 102 to apply.
You can also register to attend our informational workshop about the down payment assistance program every month by registering on our website at www.scdhc.com.
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Jim’s Handy Home Hints
The Hazards of Lead Paint
According to the EPA, it is estimated that lead-based paint was applied to approximately two-thirds of the homes built in the U.S. before 1940, one-third of the homes built from 1940 to 1960, and to an indeterminate (but smaller) portion of U.S. homes built since 1960.
Lead can enter the air within a home when surfaces covered with lead-based paint are scraped, sanded, or heated with an open flame in paint stripping procedures. Once released into the home atmosphere, lead particles circulate into the air and can be inhaled or ingested through the mouth and nose.
Lead particles freed in fine dust or vapors settle into carpet fibers or fabric and can be recirculated into the air by normal household cleaning (such as sweeping or dusting) and through normal hand-to-mouth behavior of young children. The result can be the ingestion of potentially harmful lead. It is best to leave lead-based paint undisturbed if it is in good condition and there is little possibility that it will be consumed by children.
Other procedures include covering the paint with wallpaper, another building material, or replacing the entire painted surface. The only way to determine if your paint contains lead is to get it tested by a certified lead inspector or risk assessor.
Interested in Down Payment or Closing Cost Assistance?
Register to attend one of our Virtual Homebuyer Workshops! During this one-hour webinar, you will learn about SCDHC’s down payment assistance program, qualifications, and guidelines.
You will have the opportunity to ask our Housing Counseling Program Manager all your questions. You will also be able to schedule a one-on-one prepurchase counseling session after the webinar.
Dates for the next workshops are November 18th and December 16th. Register for this workshop for FREE at www.scdhc.com/workshops!
SCDHC is still helping Virginia residents with rent relief! If you or someone you know has been financially impacted by COVID-19 and is looking for rent assistance, call our office at (804) 231-4449.
Homebuyer workshops are supported through grants from the Truist Foundation and the Fulton Forward Initiative. SCDHC is very appreciative for the support from Truist Bank and Fulton Bank.
Client Testimonial:
"Hi Teddy, I just wanted to take a few minutes to let you know how much I appreciate Southside Community Development and Housing Corporation and especially your help in my homeowners journey. I never thought just going over my budget with you and listening to all of your advice about budgeting would have resulted in me having such a "Ahah" moment. My eyes were opened so much when I started going down my "to do" list and I looked at such things as the cost of my car insurance, my cable tv costs, cell phone bills, etc. It got me so excited when I called and began to get quotes for the car insurance; I couldn't even sleep that night, so I got up and surfed the web almost all night. After only a week, I was able to cut my costs by a little over $400.00 per month in those 3 categories and still keep the quality services. Now, I promise to never stay comfortable without looking for saving opportunities. That was a valuable lesson for me and I thank you for waking me up. My monthly budget is looking real good now and I am going to keep it that way! I feel like I just hit the lotto! Thanks again.”