June is National Homeownership Month and HUD and the FHA have been sponsoring activities across the country. The theme this year, "Promoting and Protecting Homeownership," emphasizes
consumer education about loans and the lending process. Homebuyer Education is the first and one of the most important step towards successful homeownership This week, Rich and Steve spoke with Christine Hannifan, executive director of
The Housing Network of Rhode Island. 10 of its Associate members run the
Homeownership Connection, A homebuyer education training program In addition to promoting National housing Month, June marks the 15,000
th graduate completing the education program at The Connection. No matter what stage of homeownership you are in, from just thinking about it to homeowners looking for help to stay in their home, The Homeownership Connection offers a range of classes, counseling and workshops to low and moderate income residents throughout the state. The Homeownership Connection offers a range of pre- and post-closing programs including:
- Homebuyer education
- Counseling
- Home repair and maintenance
- Landlord training
- Lead law informational training
- Financial Fundamentals
- Foreclosure prevention
- Predatory lending prevention and awareness campaign
- How to Buy a Foreclosed Property
- Foreclosure Prevention Workshops
This Week's Real Estate Insight: Teaching prospective homebuyers about the home buying process and basic financial literacy skills creates more mortgage-ready buyers and helps those buyers become successful long-term owners. Freddie Mac states that education and counseling help lower mortgage delinquency by 19% and improve most borrowers' credit picture.
