Study On Neighborworks Counseling Out.

PR about report conducted by Urban Institute is HERE; actual report is HERE.  

Four findings highlighted by Neighborworks: 

• NFMC counseled homeowners had almost 70%– or 1.7 times—higher relative odds of curing their foreclosure than if they had not received NFMC counseling.
  
• Urban Institute estimates that on average NFMC clients who received loan modifications reduced their loan payments by $267 more each month – or more than $3,200 per year –than they would have without NFMC counseling.
  
• Counseling helped homeowners who obtained a loan modification remain current on their loan modification payments. For clients in serious delinquency or foreclosure who were counseled in 2008 and received a loan mod after counseling, there was a 45% percent increase in the relative odds they would remain current on their loan mod payments through the end of 2009.
  
• Homeowners who got NFMC counseling before obtaining a loan mod were more likely to cure their loan defaults. For clients in serious delinquency or foreclosure who were counseled in 2008 and who received a loan mod after counseling, there was a 53% increase in the relative odds that they would bring their loans current.

Originally created and posted on the Oregon Housing Blog.