In an effort to provide affordable housing for Military Veterans, Soldier On and HLP kicked off their new “Homes for Veterans” program this past weekend at the National Fantasy Football Convention in Fort Worth, Texas. The two nonprofit organizations have joined forces with mortgage companies to receive donations of foreclosed homes. Once the homes have been renovated, they will be offered for sale at deeply discounted prices to Military Veterans and their families.
Citi Mortgage has provided the first two homes, one each in Beaumont, Texas and Brownsville, Texas. Working with a variety of suppliers in the housing industry, Soldier On will renovate the homes and make them “move-in ready” for Veterans. Soldier On will also lead the evaluation and selection process of potential Veterans for the program.
Once a Veteran is selected for the home, HLP will provide financial coaching to prepare the families for homeownership. The coaching involves developing a monthly budget, paying down debt and building their credit score and savings. HLP will continue work with the new homeowner to keep their financial plan on-track, ensure mortgage payments are made on-time and offer ongoing support. Soldier On will provide transitional services and connections to other Veterans’ programs to the new homeowners.
“Since our founding almost 25 years ago, we’ve helped about 25,000 Military Veterans get their life back on track by moving them into permanent housing,” said Bruce Buckley, Soldier On’s Chief Executive Officer. “This program fits perfectly with our mission to end homelessness for Veterans.”
“Like all homeowners, Veterans need to have the financial skills to buy and sustain homeownership,” said Mark Cole, HLP’s Chief Executive Officer. “By providing them with financial education and coaching both before and after homeownership, we can help them change the end of their story.”