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Build Wealth Through Home Ownership Motivational Workshop America Saves Talking Points Brief introduction of self and America Saves. Explain that America Saves is a broad coalition encouraging Americans to save and build wealth. Sample ice breakers to engage audience: o What is wealth and what did you do to build it last week? o How will homeownership help you build wealth? Why does America Saves promote homeownership o Homeownership is main path to wealth. o Home equity represents more than 80% of most family’s wealth How homeownership builds wealth o Highly likely that home value will increase. o By paying off your home loan, you own an appreciating asset. Preparing for Homeownership o Develop savings plan to accumulate money for a down payment. o Reduce credit card debt Purchasing a home o Get pre-qualified for a home loan before looking for a home. o Contact at least three lenders to be sure to get the least expensive loan for which you qualify. Make loan payments on time o Avoid penalty fees. o Maintain an emergency fund. Am erica Saves Build Wealth, Not Debt Build Wealth Through Home Ownership If you have difficulty making payments, seek help o Contact your lender immediately. Don’t wait until you’ve missed a payment to seek help. o Consider contacting a local nonprofit housing counseling organization. Be cautious about using home equity o Legitimate uses of home equity: big medical bills o Least appropriate uses of home equity: unneeded luxuries Become a Philadelphia Saver and build wealth through homeownership o Philadelphia Savers receive benefits such as a quarterly newsletter, opportunities to attend workshops, and access to special savings accounts at area banking institutions. o Choose a goal and complete the enrollment form today!