Steamboat Pilot & Today

Steamboat Springs — For anyone planning on purchasing a home, an upcoming course could clear up some confusion that often is part of the home-buying process.

The Yampa Valley Housing Authority is offering three homebuyer education courses starting at the end of this month.

The Housing Authority was created by an agreement between the Steamboat Springs City Council and the Routt County Board of Commissioners. The Housing Authority is involved with several affordable housing programs in the region.

The course will review renting versus owning, money management, understanding credit, getting a mortgage loan, the purchasing process, maintaining a home and personal finances after the purchase.

The state requires that anyone who applies for grant and loan assistance take a homebuyer education class. The requirement stems from the link between the classes and foreclosures, said Elizabeth Black, executive director of the Housing Authority. The foreclosure rate for low-income households drops when someone in the household has taken a homebuyer education course.

Black will teach the classes; she earned certification last summer.

Black said the Housing Authority is holding the classes now because it's shopping season for homes. She said there are some units on the market that people with low to moderate incomes can purchase.

"In light of the fact that it's home-buying season, we thought it was a good idea to have a variety of classes this summer," she said.

Black enjoys teaching the classes, and she thinks they are very valuable.

"I hope people who are interested in learning what they are getting into will take the time to come to one of our classes," she said.

-- To reach Dana Strongin, call 871-4229

or e-mail dstrongin@steamboatpilot.com.