1. Homebuyer Education: Sustaining the American Dream

2. Overview Program began in early 90’s Required for DPA or rate discount
55 counseling agencies across the state of Tennessee;
120+ counselors
All partners NeighborWorks® Center for Homeownership Education and Counseling (NCHEC) Certified
HBEI Program Guide

3. New MCC Online Education
Education Classes
Face to Face
Minimum of 6 hours (classroom setting) OR
Four hours plus 1 hour counseling session, per individual household
$25, per person
Online Education
eHome America - $99
One hour counseling session required
New MCC Online Education
Express eHome America – free
30-45 on-line only session

4. Realizing The American Dream topics
Are you Ready to Buy A Home
Managing Your Money
Understanding Credit
Obtaining a Mortgage Loan
Shopping for a Home
Protecting Your Investment
These are the topics that all three of our classes cover

5. Investing in our Counselors
Continuing education
Annual “Train the Trainer” & “Peer Session”
Expense of Training materials
Assist With Promoting the Courses
Housing Education Advisory Board
Strategic Implementation Group

6. The Influence of Homebuyer Education
Published in the Journal of Policy Analysis and Management.
Comparison of data from the first half of 2002 to the second half of the year
Only difference was the requirement of HBE
Odds of foreclosure were 42% lower
Percentage of default was not significantly different
Odds of “First Pmt Default” would escalate to foreclosure reduced by 55% by taking HBE.

7. The complete study was recently published in the prestigious Journal of Policy Analysis and Management and is available:

8. Homebuyer Education Makes a Difference

9. Other Items of Interest
Pilot Program For Post Purchase Counseling
State Employee Initiative
Leadership Academy - mobile application for the “unbankable” providing financial literacy
Education Campaign with “Morty”

10. Questions