Homebuyers workshop offered

Starting in early 1994, I worked for my first-ever newspaper, The Northern Student, the student newspaper at Bemidji State University, where I attended and received my bachelor's degree in mass communication. Over three years, I would be a staff writer, news editor, managing editor and editor. I wrote everything from news stories to feature stories to sports stories to opinion pieces. It was the greatest training ground a journalist could ever have, and I am grateful to the many talented people I worked alongside in my years at The NS.

Sept. 21, 1994

By Devlyn Brooks

News Editor

The dream of home ownership could be one step closer for 50 local area residents, possibly including BSU students.

Thanks to a series of workshops for home buyers sponsored by the Minnesota Housing Finance Agency and several area organizations, 50 people have the opportunity to attend a series of workshops that will teach ways to purchase a home through a variety of financing options. The seminars also will include information on credit reports, income budgeting and home maintenance or repair.

MHFA Program Coordinator Donna Fairbanks said the Bemidji seminars will resemble home buying seminars that have existed in the Twin Cities/Metro area since 1990. "Our Metro area program has been very, very successful," said Fairbanks.

The program was initially intended to provide home ownership opportunities to Bemidji Native Americans. the state statute governing "urban Indians" was amended to include the Bemidji region with the exiting urban areas of Duluth and a seven-county metro region. Fairbanks said the amendment was needed because Bemidji Native Americans didn't feel there as "appropriate financing" available for them to purchase homes.

Needing a local organization to help implement the system, Fairbanks presented the program to the Bemidji Race Relations Task Force. It was decided at this point that it might be helpful, not just for Native Americans, but for other Bemidji area residents to take a look at the home financing process. Betty Christ, the chair of the housing committee for the task force, said in support of the program, "People have to realize that when they buy a car it depreciates almost immediately, whereas when you buy a home, it appreciates almost immediately."

However, the program isn't only open to people interested in purchasing a home. Fairbanks and Christ stress that the program could be beneficial to college students because it is never too early for students to start developing a credit history. The seminars can teach students just how to accomplish this.

Fairbanks added, "In fact, the biggest (percentage) of the families that come through our program aren't ready to purchase a home." A number of people do come back to the program for help with purchasing a home a year or two later.

Christ also mentioned that students have to realize that when it comes time to purchase a home, their student loans are a big concern to a bank. "They have to pay back (their student loans)," she stressed.

An area bank official added that it is very important to a student to have any credit history. "A loan of $1,000 is better than no loan," he said. "This program can help them."

the program will consist of three Saturday workshops to be held October 1, 8, and 15. The seminars will be located in the Bi-County CAP office, 2715 15th St. N.W., Bemidji. Interested persons should call the Bi-County CAP office at 751-4631 or toll free 1-800-332-7161.