Pre-Purchase Counseling Op-ed In American Banker
One of HPF’s core objectives is to support sustainable homeownership by offering professional guidance to homeowners who need help understanding their mortgage obligations. For the past 10 years, HPF has offered this support mainly in the form of foreclosure prevention counseling. Last year alone, HPF counseled over 250,000 distressed homeowners and, in doing so, brought understanding and financial expertise to so many Americans living in a confusing housing limbo.
While we continue to offer foreclosure help to financially struggling homeowners, HPF is also looking ahead to see what role we can play in helping to prevent another housing crisis. This is largely the reason behind an op-ed I wrote, recently published by American Banker, which explains that counseling homebuyers before they purchase a home increases the likelihood of them staying current on their mortgage. And current, financially healthy homeowners are good for everyone – the family who remains in their home, the communities that exist around them, and the banks that can lend to better-prepared borrowers.
For more information on the benefits of pre-purchase counseling, please read the op-ed on the American Banker website: “Pre-Purchase Counseling Benefits Banks and Homeowners.”