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Homeownership Education and Counseling: Do We Know What Works?

52 Pages Posted: 26 Apr 2011  

J. Michael Collins

University of Wisconsin - Madison - Center for Financial Security

Collin O'Rourke

University of Wisconsin - Madison

Date Written: April 26, 2011

Abstract

Over the past decade, concerns have been raised about the extent to which Americans as a whole are sufficiently financially literate to make the complex decisions required in the ever-changing financial marketplace. In response to these concerns, financial education, which aims to make consumers more informed decision makers, has proliferated. Homeownership education and counseling (HEC) has emerged from the same basic impulse - namely, that giving consumers more information (in the case of education) or advice (in the case of counseling) can improve their decision making when it comes to purchasing a home, managing a mortgage, and dealing with setbacks that limit their ability to make monthly mortgage payments. Research about the effectiveness of HEC remains underdeveloped, however.

Keywords: Counseling, Mortgage Performance, Homebuyer Education

Suggested Citation

Collins, J. Michael and O'Rourke, Collin, Homeownership Education and Counseling: Do We Know What Works? (April 26, 2011). Research Institute for Housing America Research Paper No. 1102. Available at SSRN: https://ssrn.com/abstract=1823429

J. Michael Collins (Contact Author)

University of Wisconsin - Madison - Center for Financial Security ( email )

United States
6082620369 (Phone)

Collin O'Rourke

University of Wisconsin - Madison ( email )

716 Langdon Street
Madison, WI 53706-1481
United States

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