24 CFR 982.630 - Homeownership option: Homeownership counseling.
(a) Before commencement of homeownership assistance for a family, the family must attend and satisfactorily complete the pre-assistance homeownership and housing counseling program required by the PHA (pre-assistance counseling).
(5) How to obtain homeownership financing and loan preapprovals, including a description of types of financing that may be available, and the pros and cons of different types of financing;
(6) How to find a home, including information about homeownership opportunities, schools, and transportation in the PHA jurisdiction;
(7) Advantages of purchasing a home in an area that does not have a high concentration of low-income families and how to locate homes in such areas;
(8) Information on fair housing, including fair housing lending and local fair housing enforcement agencies; and
(9) Information about the Real Estate Settlement Procedures Act (12 U.S.C. 2601 et seq.) (RESPA), state and Federal truth-in-lending laws, and how to identify and avoid loans with oppressive terms and conditions.
(c) The PHA may adapt the subjects covered in pre-assistance counseling (as listed in paragraph (b) of this section) to local circumstances and the needs of individual families.
(d) The PHA may also offer additional counseling after commencement of homeownership assistance (ongoing counseling). If the PHA offers a program of ongoing counseling for participants in the homeownership option, the PHA shall have discretion to determine whether the family is required to participate in the ongoing counseling.
Title 24 published on 2013-04-01
no entries appear in the Federal Register after this date.