Week 5 – Kind of Sort of Spring Break

Elle M R -

Welcome back everyone!

I am considering this week as my spring break seeing as I am going out of town on Thursday to Rocky point with my family. I still spent two days at FHR and developed an outline for my final presentation! Seeing as I have now been conducting research, observing FHR practices, building advisory committees and organizing some standard operating procedures I have come to be familiar with some of the biggest hurdles for potential low-income homeowners necessary to receive a standard or FHA loan. With this knowledge I am putting together a last minute IRB form to collect data from the housing counselors here at FHR as to what percent of their clients face some of the highest priority financial issues. This data will help me to develop my “final product” which I am still flushing out in entirety, but I hope to include a financial education session which collects some of my research on how to deal with the most intense issues based on data I collect.

As I have mentioned in previous blogs, I will soon be able to shadow housing counseling sessions. Although I will not be pulling any data directly from these sessions, this will give me an understanding of the housing counseling process. I also hope to interview the housing counselor after the session (also included in the IRB) on whether or not in their professional opinion felt the client had any misunderstandings/unrealistic expectations about the homebuying process. I hope to address these findings in my final product!

 

Thanks for your time and stopping in to read this weeks blog!

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Comments:

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    jude_s
    Hi Elle! Have a great trip and break! What is one of the issues you've noticed so far?
    Anonymous
    Hey Elle, I hope you enjoyed your break! What exactly will be discussed in the mentioned housing counseling sessions?
    thomas_c
    Sorry, I was not logged in when I posted that last question.
    elle_m_r
    Hi Jude thanks for your question, the biggest issue I have observed and discussed with my advisor is a high debt to income ratio.
    elle_m_r
    Hi Thomas! In counseling sessions counselors mostly review budgets, debt to income ratios, other financial issues to client is facing and and how to create a plan to get over those barriers to purchase a home. This counseling often has to continue for a long time before the client can actually purchase a home.

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