Money Smart Week Explained–- Money Smart Week is designed to promote Consumer Education.
Course Titles/Information: Forum Mortgage Bancorp will be providing two classes as part of Money Smart Week.
1) Reverse Mortgage/Make Living Affordable/Retire in Your Home with No Mortgage Payments. This course is designed for those 62 & older but anyone can attend. A Reverse Mortgage can be used to make your retirement years more comfortable. You can supplement your income; eliminate mortgage payments and payoff existing debt. This is a Government insured program that allows you to make use of existing equity without selling your home. Current income is not a factor in the qualification process.
2) Be a Smart Home-Buyer/Learn about Conventional, VA, & FHA Mortgage Financing will be discussed. This course is appropriate for anyone who plans on buying a home in the near future. General loan requirements are discussed as well as differences between the loan programs. Information about buying a foreclosure will also be available.
Background: The purpose of Money Smart Week is to educate consumers about money management as well as create awareness of financial education programs on topics such as saving, using credit wisely, and financial education for youths. The educational events are coordinated by the Federal Reserve Bank of Chicago and its partner organizations,
More than 450 free classes, seminars and activities will be offered this year. The educational activities will be carried out by local community groups, financial institutions, not-for profit organizations, businesses, schools, libraries, local and national government agencies.
This year’s Money Smart Week has events that offer something for people of all ages and personal financial needs. We look forward to having Chicago-Area consumers and children taking part. A calendar of events for this year’s Money Smart Week can be obtained at local Public Libraries. You can also check back on this site for more information. Additional updated information is now available on the Chicago Fed’s Web site:
www.MoneySmartWeek.Org
