Full Version: What characteristics of post-purchase support best foster sustainable homeownership?
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One response to recent constrained mortgage financing is to better prepare low-income people for homeownership. Evaluations of pre-purchase counseling programs that inform low-income households about the rights and responsibilities of homeownership and help them address credit and savings barriers show signs of success. The next generation of programs though will go beyond short-term and narrowly defined pre-purchase counseling and focus on more on more holistic, personalized financial coaching and post-purchase support to ensure loans do not become delinquent or foreclosed.

Questions to address in HUD’s research should center on what characteristics of this holistic approach, including post-purchase support, best deliver lasting results at a variety of income levels.

Dan Petrie
Habitat for Humanity International