The Undeniable Benefits of Housing Counseling Are Worth Every Cent

The case for the widespread use of housing counseling in America’s residential housing marketplace is both simple and straightforward: virtually everyone who has a hand in the construction, financing and sale of an American home today is made better by the presence of U.S. Department of Housing and Urban Development (HUD)-certified housing counseling at some point within the process, whether it takes place months before the purchase of a home, or even in the weeks and months after moving day. Pre- and-post purchase housing counseling performed by HUD-certified professionals leads to better-performing loans made to better-qualified borrowers in practically every economic class, and stronger communities with healthier economies and far fewer foreclosures.

For example, HUD’s Pre-Purchase Counseling Outcome Study in 2012 tracked 574 participants at 12-to-18 months after receiving pre-purchase counseling. What the HUD study found was stunning, to say the least: only one out of 574 purchasers had fallen at least 30 days behind on their mortgage payments.

If we are at all serious about strengthening our national housing marketplace, while also expanding the opportunity of homeownership to all who legitimately qualify, then these findings cannot be ignored.

Read the full article here.

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