Richard Tschernia is a NY-based mortgage banking professional with over 40 years of experience.
Within his industry, Mr. Tschernia has become well known for his charity work and contributions towards helping local community heroes such as teachers, law enforcement officers, first responders, and nurses secure mortgage loans through various programs.
Here, Richard Tschernia of New York includes a few of his insights into the importance of helping the key members of our communities, as well as how his organization continues to provide comprehensive services for these groups through its charitable endeavors.
Exploring the Importance of Mortgage Assistance for Local Heroes
Simply put, Mr. Tschernia acknowledges that there are many ways that local heroes benefit from comprehensive mortgage assistance that is tailored to their needs as they seek to purchase property.
Many are aware that, over the course of the past few years, the real estate market has boomed, causing increases in median existing-home sales across the country.
While key markets are showing signs of slowing down, the fact remains that home ownership currently remains out of reach for many Americans, some of which include many of our heroes such as teachers, veterans, first responders, law enforcement officers, and nurses. These difficulties can be overcome with access to resources that empower them to purchase homes of their own.
Research shows that nearly half a million veterans within our country are severely rent-burdened and paying over 50% of their income in housing.
55% of those severely impacted by housing costs are falling below the poverty level.
Teachers face various economic difficulties in our country as well. Teaching staff make up to 20% less than professionals in other fields with similar levels of education and experience, with those in many parts of the US making below living wages for families. Of the teaching population in the US, up to 25% are leaving the profession annually and around 20% of existing teachers must keep second jobs to stay afloat.
For first responders and law enforcement officers, there are similar challenges. Many do not make a livable wage and can face issues with stress management, burnout, and substance abuse that will leave them vulnerable to a host of other issues that also cause financial burden.
When coupled with the current economic climate, it makes sense that we are seeing the importance in taking steps to help those who have such value for our communities to uphold a positive quality of life. To this end, mortgage assistance is a remarkably effective strategy because it is not shy about addressing the numerous financial challenges associated with working some of our country’s most essential jobs.
CrossCountry Mortgage’s Role in Providing Mortgage Assistance for Our Heroes
Given just how many economic challenges local heroes can face and their impact on the ability to purchase property, Richard Tschernia of New York emphasizes how crucial it is for professionals in finance circles to explore avenues for giving back.
This is why Richard has made a point to leverage his position as a mortgage professional with over four decades of experience to share insights and mortgage relief services with first responders, teachers, nurses, law enforcement officers, and veterans within our communities.
CrossCountry Mortgage’s Teacher & First Responders Program was created to give back to local heroes who have done so much to serve us each day. The firm uses its platform to help those who are interested better navigate the real estate market and provides high-level support with processes such as securing a loan, closing, and more.
CrossCountry can help eligible individuals access a $500 credit at closing, secure down payments as low as 3%, and receive zero-interest loans. Working with CrossCountry Mortgage as a local hero can also empower eligible parties to save time through digital pre-approval and services, match with professionals available to assist with accessing government loans and key real estate insights, and ultimately achieve their dreams of owning homes within the areas that they serve.
One of the biggest motivating factors in Richard Tschernia’s decision to implement solutions for mortgage loan assistance is to make a difference in the lives of those who do so much in service of others already. Mortgage assistance can play a valuable role in ensuring that important members of our communities can continue doing what they have a passion for, which truly benefits us all.
Is it Possible for Other Mortgage Institutions to Get Involved?
Over the course of Richard’s experience with charity, he has had colleagues and collaborators inquire how they can get more involved in the process of giving back.
There are many effective ways that professional mortgage lenders and financial institutions can refine their commitment to charity. One strategy is to provide pro-bono services. A large hurdle for some who need to access mortgage assistance is that they may not have the capital to afford appointments with professionals who can clue them in on the programs available to them. Providing consultations for free or at very low costs can lessen this burden and point local heroes to the many avenues available for achieving home ownership.
Naturally, there are dozens of other ways to give back as well. Donating time or funding to your favorite organizations and causes can go a long way towards helping individuals overcome other challenges that they may face in their day to day lives. It also has the added benefit of making you feel more connected to the diverse people who make our communities so special.
Richard Tschernia of New York encourages professionals within his industry to explore their passion for charity work. By using industry skills to show heroes how they can affordably secure homes, access helpful programs, and experience the safety and security that they deserve, we are well on our way to a better future.
