So, what makes the Habitat program work when record numbers of homeowners across the U.S. are now facing a real possibility of losing their homes?
In this case, the old adage applies: an ounce of prevention is worth a pound of cure. The initial screening of applicants ensures that only those families are selected who are able to afford the monthly house payments of approximately $300. Habitat selects families who are motivated to “partner” with Habitat to earn their homes. A single-adult family must work 350 hours of “sweat equity;” a two-adult family, 500 hours. This hands-on physical labor requires a serious level of dedication over a period of time that averages about 18 months. Each family is required to participate in a series of workshops that help educate them about what it means to be a homeowner, how to manage family finances, how to make basic home repairs and take care of a yard. In these classes, they learn to make informed decisions about the use of credit and the importance of a credit rating, as well as setting priorities for family spending. Each partner family is assigned a support family—a family from the local
Related Questions
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- The Years to Completion Data for the Clinical Psychology program include some large numbers a couple of years ago. Should I be concerned?
- Are authorization numbers for the current program still valid?
