4/3/2013

Buyers who went through counseling before purchasing their homes were nearly one-third less likely to miss payments within the first two years of homeownership than those who did not receive counseling, according to a study by the NeighborWorks America community development agency. However, David Stevens, Mortgage Bankers Association CEO and a former Federal Housing Administration commissioner, cautions that all counseling is not equal. "The one thing we have yet to see is what's the model that works," he said.

Related Summaries