BHA's Family Self Sufficiency Program Graduates 92 Voucher Participants, Helps Them Pursue Homeownership, Higher Education, Jobs And Savings

South End MA

09 June, 2022

10:52 PM

Description

Press release from the Boston Housing Authority: June 8, 2022 This year, the BHA Family Self Sufficiency program held a graduation for 92 Housing Choice Voucher (Section 8) participants for the class of 2021. FSS is a voluntary five year program to assist BHA voucher participants in meeting their personal and financial goals. Participants work one-on-one with a Financial Coach from Compass Working Capital, helping them build a customized plan that supports them in their income, credit, debt, savings, and long-term goals. Participants are awarded for increasing their income at work, allowing them to save a portion of their rent increase in a special FSS Savings Escrow Account, and put that money towards education, debt repayment and even homeownership. Learn more about FSS homeownership opportunities in this video. The through the program, this year's graduates saved a combined escrow of $823,054.57. Through the program residents were able to improve credit scores, pay down/pay off debt, buy new cars, increase savings (whether that be for for retirement, children's education), and even buy a first home. The Graduation video is here. Torri is a proud single mother. With the help of the FSS program, she got a better paying job, increased her credit score from the 500's to a credit score in 700's and bought her first house. Hear Torri's story. Markeith earned $30,000 in escrow through the FSS program. He used some of the money to help his daughter get her first apartment, buy furniture and make repairs to her car before she had her first child. He saved the remainder in a savings account for a rainy day fund or for using it as a down payment for homeownership. Hear Markeith's story. BHA residents and voucher participants are strongly encouraged to sign up for the FSS program. Learn more here. To watch all of our our FSS videos, follow these links: FSS Homeownership Guide https://www.youtube.com/watch?v=09EXxNSt3ME 2022 FSS Graduation Video https://www.youtube.com/watch?v=GcFq2FNgVIY Markeith's story https://www.youtube.com/watch?v=MeGtsxbFQTA Torri's Story https://www.youtube.com/watch?v=PWNz9aMtQ6A This press release was produced by the Boston Housing Authority. The views expressed here are the author's own.