Support Homeownership

One way to increase families' buying and borrowing power is homeownership education and counseling. Pre-purchase homeownership education helps families navigate the complicated home-buying process and improve their credit and debt profile so they can access more private-market mortgage capital at reasonable rates. It is important to marry this "pre-purchase" strategy with a "post-purchase" homeownership education and counseling strategy designed to help existing homeowners retain their homeownership status in the face of confusing mortgage products, home maintenance challenges, rising interest rates, and rising property tax bills. Especially in light of the rising use of complex adjustable-rate and non-conventional mortgage products, the longevity of families' buying and borrowing power may be at risk without foreclosure prevention programs designed to help keep them in their homes. Finally, communities can help families afford the full costs of their homes by reducing the amount of money families spend on home energy needs.

Expand Homeownership Education and Counseling

Homeownership education and counseling offers important benefits that help families to both attain homeownership and sustain it once they're in place.

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Create and Expand Downpayment Assistance

By structuring downpayment assistance as a loan that is due upon refinancing or sale of a home, rather than as a grant or forgivable loan, communities can recapture their initial investments to help more families achieve homeownership.

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Prevent Foreclosures and Help Affected Owners

Foreclosure prevention strategies can help stem the tide of rising foreclosures. Legal protections and other assistance for renters and owners affected by foreclosure can help families manage the transition. Communities can also take action to stabilize impacted neighborhoods.

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Create & Expand Homeowner Renovation Assistance

Providing assistance to facilitate the rehabilitation of existing homes creates neighborhood stability and pride as well as leverages private investment.

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