Sustaining Homeownership Through Education and Counseling
Contributing Organization(s): Neighborworks America
Author(s)/Creator(s): Mark Wiranowski
Publishing Date: 2003-10-01
Issue Areas: Housing and Homelessness
Ownership/Rights Info: Copyright 2003 Mark Wiranowski. The Neighborhood Reinvestment Corporation (dba NeighborWorks® America) has full rights to use and distribute this document.
File info: 60 pages; 461.58 KB file size
This paper addresses a two-fold problem. First, some families are struggling to sustain their home ownership, yet market responses are inadequate. Second, postpurchase education and counseling, potential tools to assist vulnerable homeowners, are inadequately provided. This paper presents a conceptual framework for the effect of postpurchase education and counseling in assisting homeowners. It then examines information needs and strategies that can drive the provision of postpurchase services. In particular, the analysis assesses the current effectiveness and implementation of postpurchase programs. It also draws implications from prepurchase counseling and private sector loss mitigation. Finally, current stakeholders in home-ownership outcomes are identified. This paper recommends postpurchase education and counseling that are integrated into the lending models of the financial services industry and comprehensive over the timeline of the mortgage. A series of models ranging in scope are suggested, including potential actors and challenges involved.
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Intended Audience: Advocates; Policy Professionals; Researchers
Type/Format: Whitepaper
Language code: English
Type/Format: Whitepaper
Language code: English
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