Thursday, July 30, 2009
Center Undertaking Cost Analysis Study with Mpls Fed
The Center is excited to be embarking on a research study with the Federal Reserve Bank of Minneapolis to understand the true cost of education and counseling services for Home Stretch, Pre-Purchase Counseling and Foreclosure Counseling. We will be researching the average cost per household served for the following variables: program area, geographic location, type of agency, and markets served (traditional & emerging).
One of the Minnesota Home Ownership Center's goals is ensuring that the services offered through our network partners can be sustained into the future. In order to ensure sustainability, the Center needs to understand the true cost of providing homeownership education and counseling. Data that demonstrates the costs associated with services can then be used as a foundation for discussions about the cost/benefit analysis for the work our counselors do.
While some research has been done on the national level... this is a first of its kind study of the costs associated with offering homeownership education and counseling in Minnesota. The complete report of findings will be available later this year. Stay tuned!