1,000 Homeowners Closer to Rebuilding Their Lives After Hurricane Katrina

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RISMEDIA, August 16, 2007—Today the Enterprise Corporation of the Delta (ECD) announced that one-thousand homeowners on the Mississippi Gulf Coast are a giant step closer to rebuilding their lives in the aftermath of Hurricane Katrina as a result of free Phase II Homeowner Counseling services.

The Mississippi Development Authority contracted with ECD to provide financial counseling to homeowners who receive funds from Phase II of the State’s Homeowners Assistance Grant Program. Operations have been underway since June.

“Home repair and rebuilding is challenging in the best of circumstances,” said ECD CEO, Bill Bynum. “Having access to experts whose sole objective is to help residents navigate their way through the maze of post-Katrina obstacles will pave the way to success for thousands of homeowners. The Governor is to be commended for making sure families get the help they need to implement a viable recovery plan.”

Before homeowners receive their Phase II grants, they must attend a small group meeting for a general overview of the program; immediately following is an individual session between the homeowner and an ECD counselor to review the homeowner’s specific circumstances. At the conclusion of the individual session, the homeowner will leave with a recovery plan based on their individual situation.

Getting families back into their homes is vital to ongoing recovery efforts on the Gulf Coast. Business and industry leaders recognize the critical role permanent housing plays in stabilizing local communities and fostering economic development.

“Having financial support to rebuild is only part of the solution; people need to know how to accomplish the rebuilding goals they set with the resources available to them,” said Dan Zoble, senior vice president and manager of Hancock Bank’s mortgage division. “It’s important that hurricane victims understand the implications of the various options open to them. It lets them get back on their feet with the least amount of effort and helps
them find sustainable solutions.”

“With all of the chaos and confusion facing coastal residents, financial counseling is invaluable to families who are struggling to put their lives back together,” said Martha Murphy of Murphy Oil. “ECD understands the obstacles and how to work through them. Since Katrina they have helped put dozens of Pass Christian families back in their homes.”    

Free counseling is available on a voluntary basis to homeowners after they complete the two mandatory sessions. Voluntary counseling offers assistance on a range of matters including mediation and resolution for construction issues, contractor selection, financial counseling, insurance considerations, foreclosure prevention, financing solutions, building code/elevation compliance, fair housing, and alternative solutions for
housing recovery.

“I thought I had a pretty good idea how to move forward after the storm, but it was so helpful to sit down with someone and review my options based on real numbers and my personal needs,” said Susan Knowles, a resident of Pascagoula and participant in the Phase II program. “With the counseling sessions, I understand all the issues I might have to deal with and I know that the plan I’m working with is a real way to reach my goals.”

NeighborWorks America assisted ECD with developing the curriculum and training the counseling staff. The program uses advanced tools, software, and materials to accurately assess participants’ needs and provide appropriate solutions.

Reginald Esteen, a counseling supervisor at the Harrison County counseling site says, “We see every day that these services are making a difference. You hear the personal stories and you know that spending time with these families is giving them hope that they finally have a roadmap that will lead them toward recovery.”

 The Enterprise Corporation of the Delta (ECD) is a community development financial institution dedicated to strengthening communities, building assets and improving lives in economically distressed areas in the Mid South. ECD accomplishes this by providing access to affordable financial products and related services, and by leveraging private, public, philanthropic and community resources to tackle development hurdles facing
low-wealth communities (such as jobs, housing, health care, etc.) that cannot be addressed with the resources of any one sector by itself.    

ECD also sponsors Hope Community Credit Union, which provides a range of financial products and services that meet the needs of low- and moderate- income residents in its three-state service area. Since 1994, ECD/HOPE has generated more than $300 million in financing for entrepreneurs, home buyers and community development projects, and directly benefited more than 30,000 individuals in Arkansas, Louisiana, Mississippi,
and Tennessee.

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Sunday, March 21, 2010