The
New Century Individual Development Account (IDA) Program
helps working residents of Forsyth County become first-time
homeowners. This program combines asset building and
education to teach participants how to manage their money
wisely, how to search for and obtain financing for a
home, and finally how to find and purchase that home.
The IDA program helps individuals and
families in Forsyth County become more financially stable
by helping them build assets that will continue to grow
in value, rather than depreciate. Participants in the
New Century IDA Program receive economic literacy training,
first-time homebuyer's training, and support every step
of the way, from opening a savings account to the closing
table, and beyond. The IDA Program can help low-income
families gain a stake in their community and in so doing
help eliminate generational poverty.
View
pictures from our
IDA
Graduation Ceremony
IDA Team
News & Events
NEWS
FLASH Jackie
Baldwin, a former client and new employee of Experiment
in Self-Reliance (ESR) recently shared the podium at
Winston-Salem State University (WSSU) last week with
Michelle Obama, who was campaigning for her husband,
presidential candidate Sen. Barack Obama (D-Ill.),
in advance of North Carolina’s
primary election coming up on May 6.
New Century IDA would like to acknowledge
our
collaborative partners
*No Open Orientation
Sessions will be held until January 2009
Who
Qualifies
Winston-Salem/Forsyth County residents who would like
to participate in the IDA program must meet specific
income guidelines. Credit problems can be worked with
to an extent, and an individual's credit history should
not discourage them from applying to participate in the
program. The IDA program is structured so that low-income
households can buy a home, and be successful in paying
for and owning their own property. Overcoming credit
and debt issues is part of this process. Those with credit
issues that cannot be cleared in the two years of program
participation are given the option to participate in
other programs that will help them clear some of these
issues before getting started in the IDA program. The
program's goal is not only to get Winston-Salem/Forsyth
County residents in their own homesbut also to help them
be able to stay there.
Program applications
are screened for eligibility, and applicants are informed
of the results. Those who are accepted are assigned a
Success Coach whose job is to guide them throughout their
time in the program. Those who are denied are counselled
as to the reason for the denial of the application, and
ways to improve their eligibility for the program, and
they are encouraged to reapply if there is the possibility
that they will qualify at a later time.
The
New Century Individual Development Account (IDA) Program
helps working residents of Forsyth County become first-time
homeowners. This program combines asset building and
education to teach participants how to manage their money
wisely, how to search for and obtain financing for a
home, and finally how to find and purchase that home. 
Jackie
Baldwin, a former client and new employee of Experiment
in Self-Reliance (ESR) recently shared the podium at
Winston-Salem State University (WSSU) last week with
Michelle Obama, who was campaigning for her husband,
presidential candidate Sen. Barack Obama (D-Ill.),
in advance of North Carolina’s
primary election coming up on May 6. 