1. Here to Stay Fund Created by the Co-operative Housing Federation of Toronto (CHFT) In August 1999 Tom Clement Executive Director, Co-operative Housing.

Slides:

Advertisements

Similar presentations

Credit. Borrowers & Lenders Find Your Match! Whos Your Middle-Man???

Advertisements

Chapter 23.1 Use your Money Wisely

Learn how a reverse mortgage can help increase your retirement income and give you a better quality of life. Presented By: Your Name Your Company Name.

Chapter 9-Section 2 Bankruptcy Choices. Bankruptcy  A legal procedure to relieve a person of excessive debt.  Voluntary bankruptcy-the individual asks.

The Importance of Credit Brought to you by Work.

Repayment Seminar.

Money School: Financial Stability Initiative Creating a Straight “A” Future for those we serve.

BANKRUPTCY. VOCAB ▫Bankrupt – a person or company with insufficient assets to cover their debt ▫Bankruptcy – a state of being legally released from the.

Credit Card Basics. Getting the idea Debit cards can be used almost anywhere that credit cards can be used. But there is a big difference between them.

Depository Institution Discovery G1 © Family Economics & Financial Education – Revised April 2006 – Get Ready to Take Charge of Your Finances –

Depository Institution Discovery G1 © Take Charge Today – Revised April 2006– Depository Institution Discovery – Slide 2 Funded by a grant from.

Copyright, 1996 © Dale Carnegie & Associates, Inc. GETTING OUT OF DEBT MINI-LESSON INDIANA DEPARTMENT OF FINANCIAL INSTITUTIONS CONSUMER EDUCATION.

Credit and Its Use.

FAFSA Free Application for Federal Student Aid The main form students use to apply for Federal education grants and loans.

Presented by: Charlie Hudson Business Development Account Executive, NASA FCU Improve your Credit Score & Financial Goal Setting $ $ $ $ $ $ $ $ $

Sources of Financing: Debt and Equity If you don’t know who the fool is on the deal, it’s you!...Michael Wolff.

Debt Overload. Good Debt vs. Bad Debt ► “ Good debt ” would be considered any debt that will help you improve your education and/or your ability to earn.

1.  Over 12,000 individuals live in Poverty.  12% of students in the school system receive Free and Reduced Meals  Almost 1,000 eligible students do.

What Is the Right Type of Loan? Comparing Private Loan and PLUS Loan Options Ben Brudnock Assistant Vice President EFS Account Executive Wells Fargo Allyson.

Materials Developed By: CLARIFI CLARIFI Reverse Mortgages.

Chapter 30 Savings Accounts pp

Renting vs. Buying Which is best for you?. The pros of renting A Landlord When a pipe bursts in your rental home, someone else foots the bill to fix it.

Becky Hanna and Jennifer Paddick How to Manage your Financial Situation.

5.1 Savings and Investing 5.2 The Rule of 72 Getting Started.

Why It’s Important Savings accounts allow you to put money aside and help make your money grow.

1 Chapter One First Things First Ken Long New River Community College Dublin, VA 24084

Information for Individual Savers About the Hispanic America Saves Campaign.

Coast Guard Mutual Assistance 2015 Fundraising Campaign When we work together, it works.

Unit 2: Measuring Financial Health. Learning Objectives O Define asset, liability, and net worth. O Calculate the level of net worth using a balance sheet.

1 Carol Bertocchini, CPA Specializing in Reverse Mortgages (650) Presents: The HUD/FHA Home Equity Conversion Mortgage (HECM)

The Independent Representatives of Diversified Marketing Concepts DMC.

Dealing with Debt Signs of Debt Distress Place CashCourse URL Here in Master Slide| 2 Using credit card cash advances to pay for living expenses. Having.

FINANCIAL AWARENESS CREDIT CARDS & LOANS Lesson 2: Credit Basics – Part 2 Instructor PowerPoint Copyright © 2009, Thinking Media, a division of SAI Interactive,

Advantages of using credit cards Ability to use item while paying for it No need to carry cash Use of card builds credit history Quick source of funds.

MoneyCounts: A Financial Literacy Series Student Loan Repayment Strategy Dr. Daad Rizk MoneyCounts: A Financial Literacy Series 301 Outreach Building University.

Banking and Credit Cards. Fees ATM Fee- charge for using ATM services from a different bank ATM Fee- charge for using ATM services from a different bank.

A person or company with insufficient assets to cover their debts.

 Credit  Equity  Credit: the ability to borrow money in return for a promise of future repayment. Future repayment usually includes interest.

Let Lenders and Borrowers Be Econ and Me. Financial Intermediaries What are financial intermediaries? What are financial intermediaries? They bring savers.

Coast Guard Mutual Assistance 2014 Fundraising Campaign Stable Steady Ready for another 90.

© Oklahoma State Department of Education. All rights reserved.1 Housing Alternatives Standard Renting vs. Buying.

Health DMA Please take out a piece of paper and complete the following: 1.Write down the vocabulary word and definition. 2. Choose ONE of these options.

Industry experts guiding home owners through the complex issues of our current market.

Savings Accounts Chapter 30. Today’s Schedule Yesterday’s Quiz Review Homework Collection No Homework – Enjoy your break Chapter 30 Quiz.

STRATEGY THREE Debt Recycling Tax Planning Strategies for 2015.

© Family Economics & Financial Education – Revised October 2004 – Credit Unit –Understanding Credit Reports Funded by a grant from Take Charge America,

How do I know if I need to switch supplier?. What information do I need to know before I can compare energy prices? My usage (kWh) and costs (£) for energy.

 Credit  Equity  Credit: the ability to borrow money in return for a promise of future repayment. Future repayment usually includes interest.

LESSON 9-2 BANKRUPTCY CHOICES Learning Goals: - Explain the reasons for and purposes of bankruptcy and list strategies for avoiding bankruptcy. - Describe.

What’s a Credit Report? From age 18 on, agencies collect data about your spending habits. Monitor your ability to handle risks (i.e. loans I installment.

Debt and Risk Management FONTBONNE UNIVERSITY FINANCIAL LITERACY AND DEFAULT PREVENTION FACILITATED BY JAMES “VINNY” VINCENT ASSOCIATE DIRECTOR, FINANCIAL.

Independent Living November 30, Credit: the use of someone else’s money, borrowed now with the agreement to repay later Originally used in the United.

Welcome to our Financial Literacy Workshop Presented by: Maribel Castaneda Kimberly Diaz Brandon Galeano Lucia Machorro Diego Martinez Marbella Pleitez.

CH 1 ALSARHANI YAHYA 1.  A bank is a business.  Banks sell services ALSARHANI YAHYA 2.

Reality Town Wrap-Up Get out your handbook. ® When finished completing the “Reality Town Experience” pages move on to the next slide. Click for next.

Financial Institution Frenzy G1 © Family Economics & Financial Education – April 2006 – Get Ready To Take Charge of Your Finances – Financial Institution.

UGHH… Loans and Repayment. Define or Answer Key Vocabulary Terms Principal Interest Loan  Give 2 examples of types of loans a person can get Loan Term.

Savings Accounts. What is Savings? It is the money put aside for use in the future. Most experts recommend that you put back 10% of your income in savings.

CIRCULAR FLOW Markets Markets are places that allow for the exchange of money for goods or services. Markets make it easier to obtain goods and services.

Chapter 1 Choosing Which Debts to Pay First. First Steps to Dealing with Debt Problems Most people in financial distress will first want to deal with.

Assets vs liability Car Loan The average car payment in America is $450/mo A 2009 Tahoe in Idaho right now is $23,000, $25,000 after tax/registration.

 In your notebook: › Draw › List › Write › Everything you know about credit and credit cards. › When the time sounds, share your list with your partner.

New Payday Loan Lenders and What They Can Offer There can always be times when people need money and this can be down to so many different reasons. When.

Bell Ringer What important financial decisions will you make in the next few years? BRING A CALCULATOR! © Council for Economic Education1.

Chapter 9 Objectives 1.Explain how to dispute errors on billing statements 2. Explain the purposes and types of bankruptcy and list strategies for avoiding.

A Hub of Calculators. Financial Calculators Online Acalculator offering Free Financial Calculators that will help you to perform complex and time consuming.

Coast Guard Mutual Assistance 2018 Fundraising Campaign

(Sources and Uses of Funds) (Flow of Funds Statement)

Presentation transcript:

1

Here to Stay Fund Created by the Co-operative Housing Federation of Toronto (CHFT) In August 1999 Tom Clement Executive Director, Co-operative Housing Federation of Toronto

3 Here to Stay Fund Created as an eviction prevention tool Helps people with financial emergencies When people have nowhere to turn Prevents people from going into arrears and possibly losing their homes

4 Here to Stay Fund Fund provides: Credit counseling A variety of strategies for dealing with arrears Loans for people in one or two months arrears

5 Here to Stay Fund Credit Counseling Service of Toronto offers credit counseling to everyone who approaches the fund

6 Here to Stay Fund To date over 200 people have received credit Counseling Credit counseling also determines when someone qualifies for a loan

7 Here to Stay Fund When a loan is approved the money goes directly to co-op Also helps co-ops by keeping the arrears off the books Encourages co-op to deal with arrears quickly

8 Here to Stay Fund 73 families from 40 co-ops have received interest free loans Loans average $750 Loans range in size from $159 to $1,255 Total loans $56,000

9 Here to Stay Fund Some people did not qualify for loan because they were too far in arrears Had no ability to pay back loan Refused to deal with other debt

10 Here to Stay Fund Total Loans average about $8000 per year Fund stabilizes families Over 90% of the people who receive loans remain in their co-op

11 Here to Stay Fund The value added part of the fund is the credit counseling 44 people found ways of resolving arrears in other ways

12 Here to Stay Fund People received money from government funds People went on debt repayment plans Others were able to put together plans with their co-ops

13 Here to Stay Fund Losses to the fund are replaced by fundraising. This allows the Fund to be innovative by not being dependent on government funds.