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First annual TRP Back of the Yards Home Ownership Fair puts families on the path to home ownership
Story by Rachel Gittleman. Photos by Lyndsi Barboza
More than 50 families came out to the Richard Daley School in Back of the Yards on Saturday, June 22 for The Resurrection Project’s (TRP) first annual Home Ownership Fair. The goal of the event was to promote homeownership within the Back of the Yards community and introduce families to the home purchase process. For families who believed that homeownership was an unattainable dream, the event was a chance to see the exact opposite: that owning a home was possible with smart choices and the right planning.
“We want to expand our presence in Back of the Yards to help more people find the homes they want,” said Rodrigo Carrillo, TRP Financial Services Manager. “This event helped us do that. We’re promoting home ownership, which in turn promotes neighborhood stabilization because it gets communities to care for their own communities.”
Families at the event were able to meet one-on-one with a TRP Home Purchase Advisor, who helped them determine their next steps and establish the relationships necessary for purchasing a home. During each meeting, the advisors reviewed the family’s credit, determined whether they would need credit counseling, and scheduled a follow-up appointment back at TRP’s offices. Eight families were pre-approved for home purchase on the spot, which meant they could immediately connect with TRP Realty, TRP’s new home brokerage service. A few families were even taken on a real estate tour of Back of the Yards. Those families who were not pre-approved were still able to determine tangible next steps towards becoming pre-approved in the future.
After meeting with a home purchase advisor, each family was able to talk to a variety of lenders and credit counseling agencies, as well as a representative from La Casa Student Housing. Some families met with TRP’s Property Management specialists, who discussed the option of renting an affordable home or apartment instead of or until home purchase. TRP staff also presented mini-workshops, which were shortened versions of the 8-hour workshops TRP provides on a variety of financial topics including rental rights, credit, and budgeting. There were even children’s activities so that kids could have fun while their families met with TRP specialists.
After the event, each family was asked to follow up with TRP’s Financial Education and Counseling team in order to assess where exactly they were in the process. Because many families did not bring the necessary paperwork to the event, this follow-up appointment will allow the advisor to better establish the family’s exact next step. For those families that were pre-approved at the event, following up will involve confirming their pre-approval. They will then have the option to start their home search through TRP Realty.
More than half of the families who attended the event have now begun their home purchase journey in earnest.
“We didn’t know what to expect,” said Alejandro Chaidez, TRP Financial Services Counselor. “But the event was a great success, and it proved a very good learning experience everyone.”
TRP will continue to hold this event each year to make sure that more people know that owning a home isn’t just a dream: it’s an attainable reality.