Can Post-Purchase Workshops help prevent foreclosure?

ForeclosuresMass President and co-founder, Jeremy Shapiro We've all see pre-purchase workshops for prospective home-buyers that talk about the advantages (and sometimes the pitfalls) of home ownership. Typically these are organized by mortgage brokers, real estate agents and lenders so as to educate prospective homeowners with the idea that when it comes time to buy, the future homeowner will come to the hosts to put together the transaction. That's all good and well, but what about AFTER the folks have moved into their home? How does the lender help their past, and hopefully future, client STAY in their home? In today's "Register" (a Barnstable, MA area paper), the Business Brief mentions a program that Housing Assistance Corporation has been offering that TD Banknorth is now helping to support. "In recent years, we've seen an increase in the number of people contacting us for foreclosure prevention counseling, in part because of poor money management practices," said Nancy Davison, director of consumer education for HAC. TD Banknorth gave HAC $10,000 which will be used in part to create a Portuguese-language session for the Cape's Brazilian community. These workshops seem like a great idea, but do you think post-purchase programs can help homeowners prevent foreclosure? Do you think home-owners should learn how to keep their home before they learn how to obtain their home? Your comments are welcome! Simply click [Post a Comment] below to post your thoughts...

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