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A Work of Art Emerges Over Time
When a teacher becomes the student

Wendy Drew had owned several homes during her 20–year marriage, but her husband was the one making the decisions. A financial wiz, he took care of all the family's money matters leaving Wendy with only one responsibility—to sign at the X. When her marriage ended, she quickly realized how much she had to learn.

Although she lived affordably as a renter for six years, Wendy knew that paying rent was not contributing anything to her future. So in her late 40s, with thoughts turning to her ability to retire comfortably when the time came, Wendy determined that owning a home was as important to her retirement planning as her 403B and pension.

"I've been very lucky," Wendy says. "I step on gold sometimes." One golden moment happened when a colleague suggested that Wendy contact NHS Phoenix if she was serious about buying a house. "I met Bill Slater, the HomeOwnership Center Manager, and the sky just opened up for me."

Wendy paid close attention in Homebuyer Education class, then asked a realtor friend to help her to find a home closer to the inner–city school where she teaches art. She was careful to choose both a house she could afford and a mortgage that worked for her.

When interest rates dropped a year later, she knew she would be wise to refinance. But the interest rate her mortgage company offered was not as low as she expected, and the fees seemed too high. "I couldn't put my finger on it," Wendy says, "but the loan terms just didn't seem right to me." So she visited Bill Slater at NHS Phoenix again. Once Bill confirmed her suspicions, she looked for a different mortgage company and refinanced at 5.5% without any add-on fees.

"Time is on my side," she says knowingly. "It takes time to acquire and absorb knowledge, and it takes time to come to know what makes you happy." This house, Wendy's first house as a single woman, clearly makes her happy. It is a labor of love—not a perfect, finished place when she moved in, but an older home with great potential. Her first labor, pulling out the "awful blue carpeting" and laying beautiful wood floors, makes a great first impression. Her next labor, painting the walls in warm yellows and rich blues, adds to the welcoming and comfortable atmosphere.

Although Wendy would tell you she is an art teacher, not an artist, her home itself is a work of art in progress. "The crown molding will go there, and baseboards there, new closets there and there. . ." The front yard is also in process, with piles of dirt being spread one wheelbarrow at a time by Wendy as she prepares for a low–water desert landscape. When a neighbor asked what she had in mind, Wendy told her, "Soon you're going to see my dream."

Her dream is emerging, slowly but surely, as time allows. She is now working with Damon Jeffrey, NHS Phoenix's new Construction Manager, to draw up plans to remodel a currently unusable portion of the 1,100 sq. ft. house. The remodel will add another bedroom, a second bathroom, and some much-needed closet space. The plans, right now, are still in her head. But once Damon helps her put them on paper, she will use them to complete the next piece of her big picture.

She's done her homework. The value of her home has increased over the last two years, and her home equity credit line is already approved. Now it's just a matter of time. And time, Wendy will tell you, is on her side.

Written and photographed by M. Rooney