17 - Indiana Association for Community Economic Development

o Differentiate between multiple types of inspections, difference betweenappraisal & inspectiono Discuss “life cycle” of homeownershipo Discuss insurance of all typeso Include information on flood insuranceo Include information on personal life insuranceo Include information on wills/powers of attorneyo Include section on budgeting/planning for maintenance costs, tools, etco Include section on how to find trustworthy inspectors, appraisers, andrealtors, and the role of each (3)o Include section on ID thefto Include section on mortgage exemptiono Make “life as homeowner” section more in-depth, especially the homemaintenance sectiono Tax implications of homeownership• Minimum hours of instruction may need to vary depending on the size of the groupand individuals’ prior knowledge• Need for “teeth” in housing programs—ability to get clients back for post-purchasecounseling• Need for adequate technology• Need for listing of available resources• Pre-qualification should take place early in process• Public transportation to services is a challenge in rural areas• Track outcomes (5)o Include outcomes beyond home purchase itselfo Need for data collection tools (2)o Pre-tests and post-tests should be administered for measurable results (2)• Varying perceptions of CCCS’ programming—often depends on the individual lender• What happens to those whose needs may not be entirely met by counseling?o Client self-assessment is keyo Assessment process should include referrals for those who need it12Comments on Components of Homeownership Counseling Programs:• Basic banking skills should be part of assessment• Begin with financial literacy for those who require extensive assistance• Clarify difference between referrals to other agencies and coordination of serviceswith those agencies• Communication with lenders is helpful, but not always easy to do• Consider the pros and cons of clients’ using Debt Management Program or similarcredit counseling programs (2)• Dedicate time for one-on-one counseling• Ensure client is working actively toward their goalo Accountabilityo DeadlinesIndiana’s Homeownership Education & Counseling System (HomeEc) Report — XXXIV