Wells Fargo Sales Manager Viola Solomon Explains the Benefits of NeighborhoodLift
Title: Wells Fargo Home Mortgage Regional Sales Manager, Diverse Segments.
Company name: Wells Fargo
Years in the business: Over 15 years
What is the premise of NeighborhoodLIFT?
The NeighborhoodLIFT program is a collaborative effort between Wells Fargo, the Wells Fargo Foundation, local nonprofits and NeighborWorks America. The program was created as a result of the thousands of conversations we have had with customers, community leaders, and elected officials since the start of the housing crisis to encourage homeownership through down payment assistance in conjunction with home purchase loans, large home buyer education events— including neighborhood and home tours — and city-specific initiatives.
Who is qualified to participate?
Applicants must be at 120 percent or less of Area Median Income (AMI) in the city of Houston, they must be approved for home financing, and they must be purchasing a home within the city of Houston in order to qualify for a grant. In terms of the amount of the grant, applicants will work with our nonprofit partners who will qualify them for up to the maximum grant amount based on the individual’s need.
What is Wells Fargo’s role with Neighborhood LIFT?
Our NeighborhoodLIFT program complements our Leading the Way Home® sustainable homeownership initiative and related home preservation efforts, which focuses keeping people in their homes by offering mortgage payment relief. The program is a collaborative effort between Wells Fargo, the Wells Fargo Foundation, local nonprofits and NeighborWorks America. Wells Fargo will work with NeighborWorks America and local nonprofit partners (NeighborWorks America affiliates) to implement the NeighborhoodLIFT program in select markets.
How are the markets selected for the Neighborhood LIFT program?
These cities that were selected have all been deeply affected by the foreclosure crisis. To identify these cities, we relied on a variety of housing crisis impact measures including foreclosures, delinquencies and amount of available housing stock. It’s important to note, that we did not select cities based on the size of Wells Fargo’s business presence or the business development potential for Wells Fargo in those cities.
We recommend that those who are interested in attending register for the event, which will be held May 11-12 event at George R. Brown Convention Center. At the event, they can meet in person with a Wells Fargo and non-profit specialists to apply for down payment assistance grants and homebuyer support programs.
For more information please visit: