FOR THE LAST SEVEN YEARS, Americans have been struggling through one of the worst housing crises this country has ever experienced. Millions have lost their home to foreclosure. Neighborhoods have been torn apart. Many are unemployed or underemployed. [paragraph] Yet there are some hopeful signs: The unemployment rate is steady at under 6 percent. Businesses have added 10.3 million new jobs. People are doing a little better.
However, there are new challenges looming. There are many Americans--disproportionately those in minority and low-to-moderate-income communities--whose dreams of homeownership are being shattered because they cannot obtain a mortgage due to weakness in their credit and financial profiles.
They include millennials overwhelmed with school loans who do not see homeownership in their future. They are older Americans who want to age in place but are struggling. They are those who lost their homes during the crisis and who are ready to re-enter the market but cannot. They are millions of families across the country who want to be part of the American dream but are being shut out.
The Homeownership Preservation Foundation (HPF) is expanding our services to help aspiring homeowners gain access to the market and be successful in managing the risks and responsibilities of homeownership. We are uniquely positioned to help families as they strive toward their dream. We have helped more than 2 million Americans avoid foreclosure and learned a lot through the process.
We are leveraging what we learned to help families as they begin to recover and look toward a more financially secure future.
HPF is nationally known for our trusted and effective programs that put families on the path to sustainable homeownership and financial empowerment. We deliver innovative, national programs that are developed by our team of experts and executed by some of the best counselors in the housing counseling industry.
We are leveraging our national platform and the extensive work done during the crisis to ensure that all people have access to life-of-loan housing counseling and financial coaching. Our Achieving the Dream campaign builds on the aspirations of potential homebuyers and connects them with a high-quality support process designed to facilitate achievement of their dreams. The campaign is in the development process now and will launch in the summer. A comprehensive housing counseling protocol for consumers who have received a modification...