MINNEAPOLIS, MN, March 14, 2016 — Seventy percent of homeowners who receive housing counseling are more likely to avoid foreclosure.
Counseled borrowers were 67 percent more likely to remain current on their mortgage.
Counseling reduces the delinquency rate of first-time homebuyers by 29 percent.
On average, those who completed HPF’s six-to-nine month financial coaching program saw their credit scores increase – with monthly cash flows rising to a $300 surplus.
These are some of the positive outcomes of HPF’s phone hotline housing counseling and coaching during the last two years, summarized in HPF’s just-released report to the community, “Preserving the American Dream: Building Strong Communities.”
Results that have led to the development of a new, national model of one-on-one coaching supported by cutting-edge technology that HPF believes will begin to transform the housing counseling industry starting in 2016.