A Pennsylvania Housing Finance Agency study released Tuesday highlights the potential of education and counseling to reduce delinquencies.
Underscoring the need for more homeownership counseling, the study participants generally thought that many residents might avoid foreclosure if they were better educated about default and delinquency prevention.
According to the studys findings,“Too many foreclosed properties remain vacant, leading to vandalism and increased costs of rehabilitation for re-occupancy. Some out-of-state buyers of foreclosed properties are inexperienced and unfamiliar with mainetenance and management responsibilities.â€
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