An Examination of Participation in Homebuyer Education and Counseling Services
Shawn R. Moulton,
Laura R. Peck,
Nichole Fiore,
Debbie Gruenstein Bocian and
Donna DeMarco
Journal of Consumer Affairs, 2019, vol. 53, issue 3, 825-847
Abstract:
Homebuyer education and counseling aims to help potential homebuyers understand benefits and risks of homeownership, choose a home and an appropriate mortgage, and build the financial know‐how needed for sustainable homeownership and financial health. U.S. Department of Housing and Urban Development's (HUD's) First‐Time Homebuyer Education and Counseling Demonstration found that women and individuals with greater education were generally more likely to participate in services. Enrollees referred to in‐person services are more likely to participate if they are early in the homebuying process or if they planned to purchase a home without a coborrower. They may perceive benefits of services to outweigh the costs of scheduling, traveling to, and attending in‐person services. Enrollees offered remote services (phone, online) are more likely to participate if they are “better off,” having higher mortgage literacy and credit scores. Results may inform agencies' messaging, outreach, and approach to providing services and meeting consumers' needs, federal policy, and interpretation of future impact estimates.
Date: 2019
References: Add references at CitEc
Citations:
Downloads: (external link)
https://doi.org/10.1111/joca.12236
Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:bla:jconsa:v:53:y:2019:i:3:p:825-847
Ordering information: This journal article can be ordered from
http://www.blackwell ... bs.asp?ref=0022-0078
Access Statistics for this article
Journal of Consumer Affairs is currently edited by Sharon Tennyson
More articles in Journal of Consumer Affairs from Wiley Blackwell
Bibliographic data for series maintained by Wiley Content Delivery ().