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1st Time Home Buyers Education

WCDA, WHN partner to promote homebuyer education
By Business Report Staff

June 3, 2011 --
CASPER - Would you jump out of an airplane without learning how to open your parachute first?

Homebuyers are being asked that question by the Wyoming Community Development Authority (WCDA) and the Wyoming Housing Network Inc. (WHN) in an awareness campaign, titled "First Things First" The campaign encourages first-time homebuyers to complete a Homebuyer Education Course as their first step in the home buying process.

The message then goes on to ask, "Then why would you buy your first home without knowing how the process works? This is probably one of the largest investments of your life."

"We are seeing a definite pattern by homebuyers that may not be completely advantageous for the homebuyer," WHN Executive Director Greg Hancock said. "The pattern is approximately 96 percent of all first-time homebuyers are going house hunting and signing purchase contracts prior to completing a homebuyer education class."

Hancock noted that those homebuyers probably could make more informed and personally beneficial home-buying decisions if they have a better idea about how the whole process works before committing to a purchase.

Mortgage lenders, as well as real estate professionals, throughout Wyoming are being asked to help encourage first-time home buyers to complete education by displaying "First Things First" posters in their offices as well as directing their clients to take homebuyer education early in the process.

"Lenders and real estate professionals are really important in the success of changing the current pattern," WCDA Executive Director David Haney said.

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