Value of homeownership counseling debated

homeownership counselingBy Jann Swanson | Mortgage News Daily

Freddie Mac and Fannie Mae have long advocated for homebuyer education but as Freddie Mac points out in this month’s edition of Insight and Outlook, it has been surprisingly difficult to determine how much it actually helps potential homebuyers. “There is widespread agreement in the industry that homebuyer counseling can help prevent some of the mistakes made during the housing boom. However, early studies of the impact of counseling produced sometimes conflicting or inconclusive results and raised questions about the effectiveness of borrower education and counseling.”

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