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Cow Flop for Affordable Housing

Good Old Fashioned Fun Benefiting OnTrack and MHO

What do a Saturday morning in the mountains, a wandering cow in a pasture, and affordable homeownership have in common?  They are all part of the Fourth Annual Cow Flop fundraiser held by the Mortgage Bankers Association of WNC (MBA of WNC).  The concept is simple; the MBA of WNC sold raffle tickets that matched designated plots in the cow’s pasture.  Then, on a bright Fall Saturday morning, ticket holders waited in anticipation to see if the celebrity cow decided to make her morning “deposit” in their space on the pastoral grid.

Annually, the MBA of WNC hosts the Cow Flop Raffle to support OnTrack Financial Education & Counseling’s Homebuyer Education Program and Mountain Housing Opportunities’ (MHO) Annual Ramp Festival.  In 2009, the Cow Flop raised $2,000 to support these local housing initiatives.

CelesteCollinsandScottDedmanCowFlop

2008 Photo: Scott Dedman, MHO Executive Director, and Celeste Collins, OnTrack Executive Director

OnTrack Homebuyer Education Program

“Today, education for prospective homebuyers is more important than ever. The Mortgage Bankers Association realizes that a well informed buyer is most likely to buy a house they can afford and maintain in the long run. OnTrack's Homebuyer Education classes support this goal,” commented David Lee, MBA of WNC member and Cow Flop enthusiast.

OnTrack’s HUD-certified course provides a step-by-step explanation of the homebuying process to help consumers make informed decisions about their home purchases.  “In the midst of a foreclosure crisis, it is increasingly evident that consumers who attend homebuyer education classes are more confident and adept at making smart homebuying decisions,” commented Celeste Collins, OnTrack Executive Director. 

As of September 2009, OnTrack has educated 181 potential homebuyers; seven of every ten participants earn 80% or less of area median income.  To date, no graduate of OnTrack’s Homebuyer Education program has experienced foreclosure.  

Mountain Housing Opportunities

“For years the Mortgage Bankers Association has supported us in this important mission through their light-hearted fundraiser, The Cow Flop,” commented Scott Dedman, MHO Executive Director “Their contribution goes to our annual Ramp Festival in which community volunteers build wheelchair ramps for elderly or disabled homeowners in Buncombe County.”

Since 1988, MHO has promoted affordable housing in the community, making significant strides in building and improving homes, neighborhoods, communities and lives while also helping to build hope and dignity in the people they serve. 

In 2009, MHO’s affordable housing programs have made a considerable impact, serving over 530 households in one year in its combined programs, expanding its home lending activity by providing loans to 30 households in the Downpayment Assistance Program, and serving more than 160 households with home repairs and home rehabilitation.

MBA of WNC Contribution to Western North Carolina

“As the local Association, we are committed to making a difference in our neighbors’ lives.  Through our volunteer efforts, we hope that our work will be an example that can – in essence – trickle up to our state and national associations, demonstrating that we are invested in going the extra mile for our community,” commented Kaye Thompson, President of the MBA of WNC.   The Association’s 15 year participation in MHO’s ramp festival is a great example of this commitment.  

“What surely began as a creative and quirky idea in the mind of a local mortgage banker has evolved into a dependable source of fundraising and demonstrates the MBA of WNC’s genuine dedication to promoting affordable homeownership in our community.  We are honored to be one of the recipients,” commented Collins.

United Way NFCC Council on Accreditation