Financial & Housing Counseling

Our counselors meet with renters and homeowners alike to discuss needs and financial challenges. This service works closely with you to help give relief from financial stress and help build financial security.

 Counselors will help you access tools and tips that will help you reach your objectives by:

• Creating a budget

• Setting goals

• Tracking expenses

• Paying bills

• Repairing credit

• Reducing debt

FEES

no fee for this service

We offer a managed checkbook service through Liberty Bank Minnesota where your funds are held in a protected “For the Benefit Of” account. 

We also offer management and balancing of your personal checkbook accounts. 

These accounts are managed by the program's Counselors in coordination with you to assure that all monthly bills are paid.

There is no waiting list for this service.

FEES

$50 monthly.

• HECM (Home Equity Conversion Mortgage)

Our HUD Certified Reverse Mortgage counselors are available as a neutral source to answer questions regarding reverse mortgages. A reverse mortgage is a loan against the value of the home that provides cash advances to you, the borrower, and requires no repayment until a future time. To proceed with a reverse mortgage, HUD requires that all homeowners receive counseling. 

In order to be eligible, one must be:

• 62 years or older.

• Occupy the home as a principal residence.

• Own the home or  have enough equity to pay off the existing mortgage at closing.

FEES

The fee is $100. This fee can be paid at the time of the appointment, or it can be financed through the reverse mortgage loan.

• HomeSafe Reverse Mortgage Loans

Our HUD Certified Reverse Mortgage counselors are available as a neutral source to answer questions regarding reverse mortgages. A reverse mortgage is a loan against the value of the home that provides cash advances to you, the borrower, and requires no repayment until a future time. To proceed with a reverse mortgage, HomeSafe requires that all homeowners receive counseling. 

FEES

The fee is $225.  This fee is paid at the time of the appointment.

Our counselors are certified in the Foreclosure Intervention Specialty through the Minnesota Homeownership Center and will work to create an action plan for successful homeownership. This support includes contacting the mortgage company to get you back on track if you've fallen behind on mortgage payments.

Click here to view the Minnesota Foreclosure Timeline

FEES

no fee for this service

MNSure Navigation

Certified MNsure Navigators are able to assist in applying for healthcare and renewing your application.

MNsure is Minnesota's health insurance marketplace where individuals and families can shop, compare, and choose the health insurance coverage that meets their needs. 

Individuals and families are also able to see if they qualify for public health insurance programs like Medical Assistance and MinnesotaCare.

Minnesota Insulin Safety Net Program

Certified MNsure Navigators can help eligible individuals apply for insulin with a valid prescription for the Continuing Need Insulin Safety Net Program which provides up to 12 months of insulin.

FEES

no fee for this service

Our Counselors see a strong need for financial education within the community, and this is why staff conduct financial education on a variety of topics.

Financial Education Topics

• Budgeting and savings strategies
• Building and managing credit
• Debt reduction
• Renting basics
• Reverse mortgage basics
• Senior Fraud and Protection

Do you have a group that would benefit from one of these topics? Call us today at (320) 650-1664.

Creating Financial Stability Through Homeownership 

Catholic Charities is a HUD Approved Housing Agency providing Homebuyer Education and Homebuyer Advising through its Financial & Housing Counseling program.  

Eligibility requirements: 

First-time homebuyer, or have not owned a home in the past 10 years.

Homebuyer Education 

Purchasing a home may be one of the biggest financial decisions you will ever make, and navigating today’s housing market can seem overwhelming. Homeownership education is the single most effective tool for achieving successful homeownership, providing valuable insight into the home-buying process.  Informed homebuyers are successful homeowners. 

Homebuyer Education offers valuable resources to help you get ready for homeownership. Additionally, many lenders require Homebuyer Education to ensure first-time buyers are well-informed about the process and expectations. 

The program features the  Home Stretch Workshop, an eight-hour  homebuyer education course offered quarterly. Upon completing the workshop, participants will receive a certificate. 

Topics covered at a Home Stretch Workshop include: 

• Preparing financially
• Affordability and importance of credit
• Choosing the right mortgage loan
• Shopping for a homemaking an offer
• Loan closing process
• Responsibilities of homeownership

Homebuyer Advising 

The program also offers  FREE Homebuyer Advising and is available at any stage of the homebuying process, whether you’re purchasing a home now or in the future. 

Advising services may include: 

• Reviewing your household budget to determine an affordability
• Identifying barriers to homeownership and steps to address those barriers
• Identifying mortgage loan options
• Explaining down payment assistance options

Email us at financialcounseling@ccstcloud.org for more information on upcoming classes and registration.