May 29, 2013 by chelsielopez
Bridge to Success is unique in two ways: First, it allows individuals and families that have the financial capacity but do not meet other requirements of the mortgage market to become homeowners while they work on repairing the issues that prevent them from qualifying for conforming products.
Second, it transitions a borrower from the Contract for Deed into a conforming product through the Financial Management and Sustainability Programs. The Financial Management Program provides financial coaches that work with borrowers to develop a debt management plan and an action plan. The Sustainability Program provides on-going support and resources to allow families to transition their Contract for Deed into a conforming product. This allows them to mainstream their finances and have access to lower rates on all their credit needs as a result of their improved position.