The funds provided to the local agencies can help families find a quality, affordable mortgage on a home and local agencies can also help potential homebuyers avoid predatory lending practices. When OWHLF funds are involved in the transaction, the family is required to attend classes which outline the responsibilities of homeownership, including mortgage obligations, budgets, and maintenance, to assure successful home ownership. Challenges The Olene Walker Housing Loan Fund faces new challenges that affect low to moderateincome constituents. A growing number of working families are finding that the increased cost of living is limiting their opportunity for maintaining safe and affordable long-term housing. Housing providers across the country have seen the wait time for applicants seeking affordable rental units increase to an average of more than two years. The OWHLF staff and supporters must focus major efforts toward expanding funding sources, partnering with private banks, and finding creative ways to increase the number of constituents served.
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