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 December 01, 2008

Home Ownership Does Not Come With a Manual!
Research shows that educated home owners tend to be surviving the current housing crisis. Data shows that when buyers are schooled as to the possible surrounding issues of homeownership; those buyers have a much greater chance at continuing to be home owners, in spite of the recent housing market and mortgage crisis.
In data from an organization known as NeighborWorks America, a 2008 study of low-income home owners showed that home owners who attended homeownership education classes now show a foreclosure rate which is twenty times less than the rate of subprime borrowers .

Buyers who attend these classes receive quality advice regarding what type of mortgage they should apply for. NeighborWorks America has been successful with helping buyers with lower incomes and less than perfect FICO scores keep their homes in the midst of the current economic crisis.

Educated homeowners have a definite advantage to keeping their homes. Even if you currently own your own home, and feel unsure regarding your ability to keep your home, take a counseling session. The HUD website has information on a wide variety of counseling services that are out there.