Mrs. Wu Achieves the American Dream
Mrs. Wu has been a long-term client of Philadelphia Chinatown Development Corporation (PCDC) since November 2015. She and her husband were newly-arrived immigrants when they first came to PCDC for assistance. Our housing counselors provided one-on-one housing counseling to teach Mrs. Wu the process of buying a home. She came to us with no credit history, so we developed a financial plan to build her credit history. Together we developed a budget to reduce expenses and increase savings. PCDC assisted the Wus in applying for utility assistance programs, LIHEAP and PECO CAP. The Wus qualified and applied for Medicaid. For over two (2) years the Wu family steadily built credit and increased savings by 50% for their future home purchase.
Last summer, Mrs. Wu was ready! Her credit was good. She secured pre-approval for a mortgage. She had savings for a down payment, but she needed some help. HSBC Bank stepped in and offered $7,000 in assistance to pay for closing costs. The Wus have marked their one-year anniversary in their Northeast home.. This past quarter, Mrs. Wu came back to PCDC for post-purchase homebuyer counseling. PCDC again developed a unique plan for the Wu family that fit their budget. PCDC applied the Wu family for LIHEAP, PECO CAP and Water customer assistance program to save on utility bills. Mrs. Wu and PCDC succeeded due to the built trust and relationship that had developed over the two (2) years. We overcame the many hurdles together. Congratulations to the Wu family!