The Vang Family

Thomas Vang and his family were longtime homeowners. That changed when Thomas contracted lung cancer and was unable to work during his treatment. The combination of his medical bills and no stable income resulted in the family losing their home despite efforts to work with their lender. Thomas, his wife, and their two children moved into a rental property and worried they never would own a home again. But the Vang family understood the benefits of home ownership and began to “ask around” about programs that might help them.

The Vang family was referred to SHOP™ Home Mortgage by a satisfied customer. They applied, attended both a home buyer course and a budgeting session conducted by Anoka County Community Action Program (ACCAP). They worked hard to resolve credit issues, but conventional lenders wouldn’t work with them because of the foreclosure.
With their income stable, credit on the mend, and funds available for some of the costs involved, SHOP™ was able to qualify the Vang family for a special Contract-for-Deed program and get into a home that had been totally rehabilitated by Greater Metropolitan Housing Corporation.

The family is together in their home and is working towards refinancing the Contract-for-Deed into a less expensive, fixed rate, thirty year mortgage.