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).
(1) Home maintenance (including care of the grounds);
(2) Budgeting and money management;
(3) Credit counseling;
(4) How to negotiate the purchase price of a home;
(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;
(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. 2601et seq.) (RESPA), state and Federal truth-in-lending laws, and how to identify and avoid loans with oppressive terms and conditions.
(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.
(e) If the PHA is not using a HUD-approved housing counseling agency to provide the counseling for families participating in the homeownership option, the PHA should ensure that its counseling program is consistent with the homeownership counseling provided under HUD's Housing Counseling program.