CBC Mortgage Agency, a nationally chartered housing finance agency and a down payment assistance source for first-time homebuyers, extended its post-purchase counseling for borrowers from one year to 18 months. The extension is being made due to the lengthy financial hardships being experienced by borrowers as a result of the COVID-19 pandemic.
Through CBC’s Borrower Success Program, borrowers have been receiving counseling for one year after using down payment assistance for a home purchase from CBC. The counseling is provided through Money Management International, a HUD-approved non-profit counseling service. It checks in with borrowers each month to offer encouragement, assistance, and support to sustain their path to homeownership.
In recent weeks, it has become clear that the impact of COVID-19 on the U.S. economy
Read More At: Article Source