Head Start Homes welcomes $30,000 Grant from the Mercy Foundation
Head Start Homes is delighted to be the recipient of a $30,000 grant from the Mercy Foundation’s Grants to End Homelessness 2018-2019.
Head Start Homes will use these funds as guarantee contributions to assist up to 5 community housing families to achieve their home ownership dreams. This will then free up an additional 5 community housing homes for households on waiting lists and likely to be homeless.
“The Mercy Foundation is thrilled to be supporting this new project. We hope it proves to be successful so that it may be able to expand in the future. We really want to see people who are currently homeless have the opportunity to move into permanent housing,” said Felicity Reynolds, CEO of the Mercy Foundation. She added “there is very good evidence that one of the best ways to lift families out of poverty is to assist them into home ownership”
Head Start Homes Founder, Stephen Woodlands said “we are delighted to have the Mercy Foundations support especially during this crucial time as we approach the commencement of our pilot. The Mercy Foundation has a long history of helping to end poverty and homelessness across Australia and we are thrilled to be working together as we strive for an Australia where there’s a “safe and stable home for everyone with fair and practical pathways into home ownership”
Karen Walsh, Chair of Head Start Homes stated “ to receive this grant is something worth celebrating as it will help to change lives by providing pathways and opportunities for up to 10 households, including people who are currently homeless”
About Head Start Homes
The Head Start Guarantee is a world leading innovative solution whereby Head Start Homes provides a pathway into home ownership by acting as guarantor for community housing tenants who can afford a home loan but are locked out due to the need for a large deposit and mortgage insurance. Head Start Homes effectively acts as ‘bank of mum and dad’ for those who can’t rely on their parent’s wealth. By providing this new pathway Head Start Homes has a multiplier effect on ending poverty as it always helps the following 2 households at once:
the community housing tenant who needs to overcome structural disadvantage to purchase a home; and
the family or individual on an approved waiting list who is likely to be homeless and moves into the newly vacated community housing home.
If you would like to know more about Head Start Homes and its world leading innovative solution for helping to end homelessness and poverty, please visit www.headstarthomes.org.au