ProsperityNow stands as a national non-profit focused on asset building for low and moderate income households. Our HomeReserve initiative provides Detroit homeowners who have purchased between January 2017 and now `with an incentive to save for emergencies after closing on a home, through a savings match of $400 per household, along with additional services to build savings and preserve homeownership from a trusted community partner.
We expect that participants can use mortgage reserve accounts to reduce their risk of mortgage default by helping them build savings to address unexpected expenses or disruptions in income, particularly within the first two years of homeownership.
How it works:
- Interested homeowners reach out to either Bridging Communities, Inc. or Central Detroit Christian CDC and fill out an application.
- Once approved, they will be provided an initial distribution of $100 to their savings or checking account.
- Homeowners can earn up to $300 more by making deposits of $50 or more by September 30, 2021. Total household match distribution will not exceed $400.
We ask you support by spreading the word to your networks and any potential clients you believe would be interested. For more information contact Bridging Communities at (313) 361-6377 or email bcigeneral@bridgingcommunities.org or Central Detroit Christian at (313) 873-0064, x22.
