Monday, March 11, 2013

Home Buyer Education: Online

As we enter into the busier spring time home buying season, I begin to get calls from clients and Realtors who ask about Home Buyer Education.  Community, County and State Grant programs vary in amount of money offered, but many require home buyer education BEFORE the Grant can be offered to the home buyer. 


And there seems to be good reason for this requirement as discovered in results of a study I read about today:

"CDCLI has announced the results of new research on the effectiveness of NeighborWorks pre-purchase housing counseling and education that shows that homebuyers who received such advice were one-third less likely to fall behind on their mortgages 90 days or more, two years after taking out the loan, compared to homebuyers who didn’t receive similar counseling and education.

The research was done for NeighborWorks America, a national nonprofit affiliated with CDCLI, by Neil Mayer and Associates and Experian, and is based on approximately 75,000 mortgage loans originated in 2007, 2008 and 2009.

Interestingly, the NeighborWorks America research shows that even repeat homebuyers benefit from receiving NeighborWorks pre-purchase housing counseling and education. According to the report, repeat homebuyers who received the services also are about one-third less likely to fall 90 days or more behind in their mortgages than repeat homebuyers who didn’t receive NeighborWorks pre-purchase housing counseling and education."

Here is the link to NeighborWorks which will explain about an online Home Buyer Education Program: NeighborWorks

Here is the link to take you directly to the online Home Buyer Education Program:
Register for online home buyer education

I can help with any questions you may have about home buyer education courses, Grant Money, First Time Home Buyer mortgage financing programs (Utah Housing Finance Program), FHA, VA or Conventional financing options. 


 

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