Serving Scott County for
More Than 104 Years!

RADA Offers Financial Programs for Those in Need

A local community action agency is offering classes for folks wanting to purchase a home or just learn more about financial management.

Since 1965, Rural Areas Development Association, Inc. (RADA) has responded to the needs of the community by providing quality services and programs to the folks in Lee, Wise and Scott Counties and the City of Norton.  RADA offers a variety of different programs including Housing, Weatherization, Homeless Intervention, Child Care Connect, Emergency Services, Chore Service, Workforce Investment, Water/Wastewater, Free Tax assistance, Home Ownership and the VA Individual Development Accounts.   One of the primary goals at RADA right now is to assist clients with building assets.   This can be achieved by taking a homebuyers education/financial management class with one of the Certified Housing Counselors on staff. You can learn simple steps like how to save money, prepare a spending plan and manage your budget. With proper financial management, folks can see their dream of owning a new home or simply having a better credit score become a reality.

One way to get a jumpstart on saving money is through the Virginia Individual Development Accounts (VIDA). Once a client enrolls in the VIDA program, that person can save money towards a down payment on a home, pay for school, or start a business.  Clients start a special savings account and for every dollar that the person saves in this program the VIDA program will match that with $2. Once the person saves up to $2,000, the VIDA program will match that and the person will have saved up $6,000 towards a down payment on a home. You have to be in this program a minimum of eight months, attend a monthly financial management class and be working for at least one month with the ability to save $25 a month.

RADA has also started a new program to help folks that are facing foreclosure on their home. As the link between sustainable homeownership and counseling/education becomes increasingly clear, now more than ever the housing industry recognizes the need to ensure high quality education and counseling for households throughout the country.  The agency also offers a Foreclosure Intervention program, which helps folks understand the options they have when facing foreclosure and can help families remain in their homes.

Are you having trouble paying your rent or mortgage? RADA offers the Homeless Intervention Program (HIP), which offers financial counseling to lower income individuals and families who are experiencing a financial crisis and are at risk of homelessness or are currently homeless. HIP counselors provide necessary counseling to allow families to obtain or maintain permanent housing.

HIP is a temporary assistance that may be utilized by families experiencing a temporary and unavoidable financial crisis, which is outside of their control.

Clients must have clearly demonstrated their capacity to be self-sufficient and willing to work cooperatively with the HIP staff to improve their financial situation. Eligible clients may receive either grants or loans for rent or mortgage payments, rental security deposits, and utility deposits.  The HIP program seeks to prevent the displacement of individuals and families from their homes as a result of eviction or foreclosure, assist individuals in securing permanent housing and provide training and educational components to help ensure self-sufficiency.  Applicants must be in a temporary financial crisis due to an unavoidable circumstance such as a temporary illness, job layoff, loss of day care or transportation for employment, delay in approval of benefits, homelessness or domestic violence.

All applicants must have been self-sufficient prior to their crisis and the crisis must not be a chronic problem. Total client annual income cannot exceed the HUD mandated lower income limits for the area they reside in. Clients must have exhausted their own resources and all other available resources before they apply for help through the program.  RADA does not discriminate against any person because of race, color, religion, sex, handicap, familial status or national origin.  The income guidelines vary from program to program so call the RADA office for more information.  I For additional information about each program offered, call 386-6441. 

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