Hi John,

You’re right you have to have someone give you a chance to rebuild your credit but the heavy lifting has to be done by you. You also have to convince a loan officer that you mean business and you’re seriously trying to get out of debt and get ahead financially.

Most individuals think that you get out of a mess by borrowing money and that’s not true. You get out of debt by paying off bills not just transferring or consolidating into one larger bill. It means a lifestyle change. You have to want to start saving, budgeting, and closely watching where you spend your money. This is the hard part but the only way I know for individuals to get out of debt.

I have five children and when they tell me they don’t make enough money, I ask them if they know where they spend the money they make. And they don’t -so I tell them to write down every time they spend money even if it is only a quarter. This is the part they never want to do. I don’t think they really want to know where they spend there money. One of my boys smokes and that costs…My son-in-law has to have a bottle of soda with him at all times. And then when they take the kids to a store with them, they can’t say NO if the kids want to put money in one of the rip off machines by the door and try to win a prize that they never do. They say we only spend a dollar or two but those add up over a week and over the entire month.

So John, do you really want help or are you looking for an easy way out. There are no easy ways out that I’m aware of, hard work and sacrifice is the only way I know to get head.

If you’re serious and in our area, stop in and see me. I can introduce you to a member service associate that can help and I’ll be there with you.



Why Hopewell Federal for Your Mortgage?

Hi Amy, 

Thank you for your question. The mortgage loan crisis is a hard fact for many to come to grips with. Everyone who obtained a mortgage was given disclosures as to the rates and terms of the agreement. The law requires this. Unfortunately, too many consumers do not read or understand what they are signing. I also believe they have been taken advantage of by the mortgage originators who earn their salary on commission. The more they sell- the more they benefit. Their first goal, many times is to see how much they can make and not what’s in the best interest of the consumer. Are all mortgage originators included in this group? Absolutely not.  As with most situations- it’s a chosen few that spoil things for the rest.

When I look at the local community, we have some very good mortgage originators and brokers. They do look out for their customers or in our case, the member. Most credit union in Ohio and around the country are not subprime lenders. It does not fit with our mission of helping members get ahead financially. The credit union motto is and always has been “Not for Profit, not for Charity but for Service”. I like to believe that at Hopewell Federal we live up to that motto.

In the years that Hopewell Federal has been making mortgages to members we have only had two foreclosed properties and both were bankruptcy surrenders. We pride ourselves in making affordable mortgages to our members. If we do anything less, we fail our members.

So why should you come to Hopewell Federal for your mortgage? Because we will help you chose a mortgage that meets your needs and not one that adds the most profit to our bottom line. Our rates are very competitive with the mortgage companies but our fees most likely will be less. You’re a member owner at Hopewell Federal not a customer and we take pride in serving our owner/members. We cannot always say yes, but we will always give you our best advice and will not sell you a product we know you will not be able to afford, down the road.

Thanks again, for your question and if you want to consider refinancing, give Jeff Harris a call here at the credit union.