Springboard Celebrates National Homeownership Month; Pre-purchase Education Encouraged for Prospective Borrowers

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Essential Steps to Buying and Preserving Homeownership Outlined for Consumers

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Buying a home is likely the single largest investment that consumers will make in their lifetime.

June is recognized as National Homeownership Month, a time when Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) places heighted awareness on the importance of pre-purchase education for prospective borrowers. While low interest rates are attracting consumers to the market, Springboard encourages would-be buyers to first gain knowledge of the home buying process so that they can make wise choices.

“Buying a home is likely the single largest investment that consumers will make in their lifetime,” said Melinda Opperman, Springboard’s senior vice president. “Prospective borrowers should be educated on every step of the process,” said Opperman.    

Springboard offers an eight-hour pre-purchase/first-time homebuyer workshop where prospective homeowners are educated on what to expect in the home buying process. Classes are offered in Riverside and Corona and are free to attend however registration is required. Springboard’s pre-purchase education workshop is approved by the U.S. Department of Housing and Urban Development (HUD).

Springboard also offers a helpful resource guide to consumers that can be downloaded from the agency’s online learning center. The guide outlines essential steps that prospective homeowners should take in order to realize their dream of homeownership.

Springboard encourages prospective borrowers to obtain a free copy of their credit report and address any credit and debt issues before shopping for a home. Springboard offers confidential telephone credit and debt counseling to consumers nationwide.

An 18-month study conducted by HUD validates the value and effectiveness of housing counseling at facilitating sustainable homeownership. The findings suggest that counseling helped a diverse group of low-to-moderate income individuals obtain useful information in connection with preparing to purchase a home and indicate that pre-purchase counseling assists clients make better informed financial decisions regarding homeownership and might help to make homeownership more sustainable. The final reports from the study were published in May 2012 and are available on HUD’s website: Pre-Purchase Counseling Outcome Study and Foreclosure Counseling Outcome Study.

“The decision to purchase a home should not be taken lightly,” said Opperman. “We want prospective buyers to be well-informed about the decision they are making.”

About Springboard Nonprofit Consumer Credit Management
SPRINGBOARD® Nonprofit Consumer Credit Management is a 501(c)(3) nonprofit personal financial education and counseling organization founded in 1974. Springboard is a HUD-approved housing counseling agency and a member of the National Foundation for Credit Counseling, a national organization of nonprofit credit counseling agencies, and a member of the Association of Independent Credit Counseling Agencies. The agency offers personal financial education and assistance with credit counseling, housing counseling, debt and money management through educational programs and confidential counseling. Springboard is accredited by the Council on Accreditation, signifying the highest standards for agency governance, fiscal integrity, counselor certification and service delivery policies. The agency provides pre-bankruptcy counseling and debtor education as mandated by the bankruptcy reform law. The agency offers nationwide phone counseling services and has locations in California, Arizona, Nevada, New Mexico, Texas, Massachusetts, and South Carolina for in-person counseling sessions. Not all types of counseling are available in-person at all locations, please call for details. For more information on Springboard, call 800-449-9818 or visit their web site at http://www.Springboard.org.

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Sheri Stuart
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