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Education and Counseling - The Punctual Payment Program's financial counseling and education is administered; before the home is purchased, during the purchase process and continues several months after the home purchase.
Mortgage Payment Reimbursements - Beginning with the first month the mortgage payment is due, homeowners are reimbursed for making their on-time mortgage payments. The monthly mortgage reimbursements promote positive financial behavior patterns and savings plans for long-term financial wellness.
Communication and Relationship Building - Before the loan closes, we reach out to homebuyers to introduce ourselves, explain who we are and ensure they understand the services that are now available to them.
Pre and Post Mortgage Counseling - At lender's request, homebuyers are provided with an effective approach to prepare for homeownership. Our follow-up counseling demonstrates a realistic view of their current expenses and the creation and implementation of their specific personal savings strategy.
Out-bound Personal Phone Calls - Continuing for the duration of the Program, we personally call the homeowners to review the services that are available to them, gauge their current financial state and to validate that their mortgage payments will be made on time.
On-going Communication and Education - Before the homeowner's first mortgage payment is due, and continuing each month for up to two years, we provide sound financial tips and informational resources to assist the homeowner in maintaining financial stability.
Alerts - If the Program's staff does not receive verification of mortgage payment within 20 days after the mortgage payment's due date each month, then a letter is sent and an outbound call is made to the homeowner to uncover any potential issues of a missed payment.
Completion of Program - Homeowners may be contacted up to 3 months after the reimbursement period discuss the effectiveness of the Program, suggest the continuance of budget practices and long-term savings, solicit their personal input and capture the amount of savings that the homeowner realized.
The Program is designed to educate the homeowner, assist to control debt associated with the initial year of homeownership, provide financial protection services, establish a solid savings plan with cash reserves and create positive long-term financial habits and wellness. No other program offers this complete financial services platform to ensure the financial wellness of the homeowner.
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