Date Published: November 2013
Effective August 23, 2013, any homebuyer that enters into a written agreement for HOME assistance (e.g., downpayment or closing cost assistance) or enters into a sales contract for the purchase of a HOME-assisted unit must receive housing counseling. See §92.254(a)(3).
While the HOME regulation does not specify the type or duration of counseling that the homebuyer must receive, HUD recommends that participating jurisdictions (PJs) review and adopt the benchmarks for counseling established by the National Industry Standards for Homeownership Education and Counseling.
When implementing this requirement, PJs should consider: