Fair Housing
What is 'housing counseling' under federal fair housing and how might it help Hawaii buyers?
AA. Psychological counseling provided to buyers who experienced discrimination
BB. HUD-approved counseling services helping buyers and renters understand their rights, navigate the purchase process, and avoid predatory lending—especially valuable for first-time buyers in Hawaii's complex market✓ Correct
CC. Legal counseling available only to Fair Housing Act complainants
DD. A mandatory requirement for all first-time Hawaii home buyers
Explanation
HUD-approved housing counseling agencies provide education and guidance on buying, renting, and avoiding foreclosure. For Hawaii's high-cost market, housing counselors help first-time buyers understand financing options, programs, and rights.
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Key Terms to Know
Fair Housing Act
Federal law prohibiting discrimination in the sale, rental, or financing of housing based on race, color, national origin, religion, sex, disability, and familial status.
SteeringAn illegal practice where a real estate agent directs buyers toward or away from certain neighborhoods based on the buyer's race, religion, national origin, or other protected characteristics.
RedliningAn illegal practice where lenders or insurers deny services or charge higher rates in certain neighborhoods based on the racial or ethnic composition of those areas.
Loan-to-Value Ratio (LTV)The ratio of a mortgage loan amount to the appraised value or purchase price of a property, expressed as a percentage.
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