HERO Alliance, Inc.

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Impact Statement

In 2008, over 110 persons with disabilities purchased a home through one of the disability loan programs, with loans totaling over $9.5 million. Of these loans, 80% of them were to individuals with incomes that were less than 40% of AMI (Area Median Income).

Over 20 persons utilized a Section 8 voucher to assist in the purchase of their home. The average income of Section 8 homeowners is $12,400.

The HERO Alliance information and referral resources assisted over 2900 individuals and professionals in 2008. Our outreach and education efforts reached over 1500 individuals and professionals, including three Realtor Continuing Education classes to 55 Real Estate Professionals.
In 2008, HERO partnered with the Denver Board of Realtors and the HERO Continuing Education class was invited to be part of the Denver Certified Affordable Housing Specialists Certified course.

2009 Goals and Activities
- Continue to support people with disabilities and their families in Colorado who may be potential home buyers through our phone line, website, education /outreach, and advocacy activities.
- Expand outreach and education programs
- Increase HERO’s outreach, education, visibility and resources outside Denver Metro.
- Increase HERO’s contacts at disability and housing organizations to address staff-turnover and increase knowledge of all working with persons with disabilities.
- Update marketing materials and utilize on-line marketing resources to reduce costs.
- Present four Continuing Education courses for Realtors including one outside of the Denver Metro area.
- Implement the post-purchase homeownership support program and continue to seek funding for an emergency assistance loan fund.
- Develop stronger partnerships with local businesses, corporations and nonprofit organizations.
- Reach out to disability advocates and people not connected to disability service providers.
- Continue developing and strengthening financial resources for homeowners including down-payment assistance.
- Encourage more housing authorities to participate in the Section 8 homeownership program.

Needs Statement

The greatest need that the HERO Alliance faces right now is funding for post-purchase support. Specifically, the HERO Alliance is seeking support for an emergency assistance fund to help disabled homeowners with large-item costs that they are unable to cover. Many HERO homeowners receive Medicaid and are unable to save more than $2000 due to asset limits or they will lose their services. This revolving loan-fund will help clients remain in their homes as long as they are able.

Background Statement

In 1992, Supportive Housing and Homeless Programs surveyed approximately 1,600 participants of its Section 8 program to find out what services they would like to see included. A large number of those surveyed indicated that they would like assistance in purchasing a home since lenders generally would not consider a person with significant disabilities at that time. Pilot programs funded through HUD’s Hope 3 program and Wells Fargo Bank demonstrated the success of individuals with cognitive or significant physical disabilities becoming homeowners.

In 1996, a small task force of individuals from state and federal agencies, nonprofit service providers, lenders, and Realtors expanded the concept of assisting individuals with any ADA defined disability in Colorado. They networked with other lenders and agencies to encourage the housing industry to make homeownership more available to individuals with disabilities. By 2001, the task force secured stable lending sources and took the steps necessary to become a 501(c)(3) nonprofit organization. The HERO Alliance has since become a true collaborative alliance, whose members have assisted over 1,800 persons with disabilities to become homeowners.

Executive Director Statement

Homeownership provides stability, security, self-sufficiency, and freedom. It offers hope of prosperity and provides a sense of pride and accomplishment. For low-income persons with disabilities in Colorado, the dream of homeownership was out of touch until the HERO Alliance developed innovative and affordable programs to assist them with their goal. These programs provide people with disabilities access to the dream of owning their own home and becoming a true part of the community. Since 1994, over 1800 individuals and families have achieved their goal of homeownership thanks to the efforts of the HERO Alliance.

Board Chair/President Statement

The HERO Alliance helps Coloradoans with disabilities negotiate the complex path to sustainable homeownership. We help them find the resources they need, specialized lenders and prime lending products, including some Section 8 products, and down payment and closing cost assistance. We also train Realtors, service providers and individuals interested in helping people with disabilities become homeowners.

“What does homeownership mean to me? As someone who is disabled, who has always had a sense that they were less than others, I can now become part of the community.” Chris

“Finally I can sleep soundly knowing the things I treasure are safe in my own home.” Louise

“HERO has been extremely generous in supporting me in my path towards homeownership and pursuing my options. The amount of care and detail has been wonderful. Working with HERO, I have felt like a person, not just a number. They have worked with me with respect and compassion, but with a realistic approach.” Judy