1st personal loan

Janet A. Harnaga, Senior Vice President Mortgage Services at City & Suburban Federal Savings Bank reported on the successful completion of the 1st Time Home Buyer's Workshop held on Oct. 23.

Thomas W. Schettino, president of C&S said that Harnaga represented the bank in cooperating with the Kingsbridge-Riverdale-Van Cortlandt Development Corporation to conduct the program.

As stated in a release made prior to the Workshop, Harnaga said, "Part of the corporation's mission is to create home ownership opportunities by educating prospective home buyers in the process of buying a home. Our job at City & Suburban is to provide financial counseling to guide them through the process and to provide home mortgages to those who are qualified."

"The 35 people who attended the Workshop made it easy for 'one-on-one' audience participation," she said. "The workshop helped to eliminate of a lot of misinformation the participants had received from various sources. We accomplished many things, among them, helping the individuals to overcome their reluctance to come into a bank and discuss their personal financial affairs. The audiences questions, and our answers, covered all aspects of obtaining a mortgage, from establishing an initial savings account, right up to the final closing," she added.

City & Suburban announced their participation in the Federal Home Loan Bank of New York's First Home Club Program. After establishing a savings account for a minimum of 10 months, qualified low income families (those earning $50,000 or less annually) can receive a $3 match for every $1 saved up to a maximum of $5,000 grant, provided the funds are being used for the purchase of a home.