Apparently, the Department of Housing and Development took notice of this happening and now requires that individuals who are applying for home purchase grants or any programs designed to assist first time buyers attend a HUD-approved financial counseling class as part of the procedure for applying for these funds. The class is designed to help people get their finances in order.
This class also assists the would-be buyer to arrange his or her finances in such a way that he or she is most likely to be able to qualify for a mortgage when the time comes to do so. Some buyers wish to be pre-approved for a mortgage before they even begin to shop for a house. This way they know exactly what type of funds will be available for their particular financial situation.
