Based on the review of nine organizations that offer post-purchase programs and interviews with national experts, post-purchase programs can be divided into two major types: (1) programs for preventing foreclosures and (2) programs for sustaining homeownership. Foreclosure intervention programs offer assistance for troubled borrowers facing foreclosure; whereas sustainable homeownership programs provide education for homeowners on how to maintain and build the value of their housing investment. This report is divided into two sections by the major post-purchase program types: foreclosure intervention and sustainable homeownership. It identifies and describes the key program components that should be included in each program model. These components represent a compilation of promising practices currently offered by the nine programs we studied that were identified by national experts. The report also examines related implementation issues for each program model, including staffing needs, budget considerations, roles of partner organizations, and measures of program effectiveness.
By Christi Baker, based on the work of Lucy S. Gorham, Roberto G. Quercia, and William M. Rohe of the University of North Carolina.