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Homebuyer education workshop successful

August 5, 2014

By Donna Summerall
life@dailytimesleader.com

A Homebuyer Education Workshop was hosted from 8 a.m.-4 p.m. Saturday at City Hall. More than 50 people attended the workshop sponsored by the City of West Point, Bancorp South, USDA Rural Development and the University of Southern Mississippi Institute for Disability Studies. The 8-hour workshop covered money management, understanding credit, getting a mortgage loan, shopping for and keeping a home.
“We had at least 55 people take advantage of the workshop,” said Dorothy Ryland, West Point housing coordinator. “Sometimes we worry about filling a class, and this time we had a full room. Normally we plan on about 25. We had to turn people away.”
Ryland said the attendees were very excited to be taking a step toward home ownership. The information that was made available helped future home buyers understand the terminology banks and other loan agencies use, Ryland said. Some people don’t know the difference between a fixed rate mortgage and an adjustable rate mortgage, she said, but the workshop clarified the pros and cons of each type of mortgage.
“Certification for the class made the attendees eligible for down payment assistance,” Ryland said. “It also taught money management, understanding credit and gave advice on making homes energy efficient. Everyone seemed to enjoy the class and learning the basics for becoming a home owner.”

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