Homebuyer Education Offers Keys to Stability
Christiansburg, Va. â As the nation has learned in the past several years, buying a home and keeping a home are two very different propositions. But the homeownership team at Community Housing Partners (CHP) wants people to know that pre-purchase counseling can help prevent buyers from taking on more house than they can afford. According to a recent study provided by NeighborWorks America, homeowners who receive pre-purchase housing counseling from NeighborWorks member organizations such as CHP are nearly a third less likely to fall behind with mortgages than those who have not. This is based on a comparative study conducted by Experian examining 75,000 loans that originated between 2007 â 2009 at the height of the nationâs financial crisis. The findings are well-timed as CHP and others across the country celebrate June as National Homeownership Month in order to raise awareness about the vital role homeownership plays in improving lives, creating jobs and economic opportunities, and strengthening Americaâs neighborhoods. A nonprofit organization that has assisted families with their housing needs for almost 40 years, CHP helps homeowners hold on to the American dream by providing trusted, unbiased homebuyer education and counseling from trained, professional advisors. âOur approach to homeownership is based on three major principles: We prepare individuals for homeownership by helping them become educated homebuyers, we teach them how to make wise and affordable home investments, and we help with home retention by offering home maintenance and financial management education,â explains CHP Director of Homeownership and Principal Broker Kamilia Lawson. About NeighborWorksÂ® America: NeighborWorksÂ® America creates opportunities for people to improve their lives and strengthen their communities by providing access to homeownership and to safe and affordable rental housing. In the last five years, NeighborWorks organizations have generated more than $19.5 billion in reinvestment in these communities. NeighborWorks America is the nationâs leading trainer of community development and affordable housing professionals.