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August 1, 2022 – Navicore Solutions announced they have collaborated with the Illinois Housing Development Authority on the Federal Home Loan Bank of Chicago’s Housing Counseling Resource Program. The Housing Counseling Resource Program assists housing counseling agencies in expanding services to minority homebuyers in Illinois in an effort to eliminate racial homeownership disparities in the state.
Racial inequality in homeownership has been a longstanding issue throughout the country. Rising home prices and the extremely competitive housing market brought on by the pandemic has only increased the disparities among minority populations.
“The efforts made by IHDA and the Federal Home Loan Bank of Chicago to develop this program is a huge step in the right direction. We wish for every state to follow their lead! We are proud to have been selected as a partner on this program and look forward to increasing the homeownership rate among minorities throughout IL,” said Diane Gray, Navicore Solutions’ Chief Program Officer.
Through the partnership with IHDA and the support of the Federal Home Loan Bank of Chicago, Navicore Solutions will develop new outreach and marketing strategies to connect with minority populations seeking homeownership and offer quality homebuyer education and counseling services.
Navicore Solutions’ Pre-Purchase Housing Counseling Program serves to help potential homebuyers prepare for homeownership and understand what to expect during the home buying process. They offer financial education workshops, both virtually and in person, as well as one-on-one counseling services. Topics covered in their education and counseling programs include building credit; budgeting for mortgage payments; money management; referral to community services; closing costs and settlement procedures; loan product options; third party inspections; and homeowner’s insurance.
About Navicore Solutions
Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy and support.
Navicore counselors provide a wide range of services including: credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.
Lauren Lovett has been with Navicore Solutions for many years serving as a Certified Credit Counselor and Grant Writer. While in these roles, she has witnessed the positive impact that the organization’s counseling services has on improving the money management skills and economic security of individuals and families in need.