Frequently Asked Questions - Homebuyer Ed.
Q.) What is MYM?
A.) MYM is Money in Motion - a HUD approved course for people who need homebuyer education. The course contains 10 chapters and is completed online.
Q.) Does the online MYM course have the same information as the book?
A.) Yes, the book and the online course have all the same content. The benefit of taking the online course is that you can complete it at times that fit into your schedule. It also comes with audio, for people who prefer listening to information rather than reading it.
Q.) When I finish the course, I understand that I'll get a certificate. What do I do with it?
A.) Keep it in a safe place, and ask your lender if he or she needs a copy of your home-buyer education certificate. Make Your Move meets HUD and Fannie Mae standards for home-buyer education. Depending on the loan program or product you have, completing an approved home-buyer education course may be a requirement. Your lender may request a copy of your certificate.
Q.) I'm downsizing and moving from a house to a condo. I've been through the home-buying process before. Do I need this course?
A.) Many changes have occurred since the housing crisis began in 2008, and even though you've bought a home before, you'll want to have current information – and refresh your knowledge about the home-buying process. Make Your Move also contains copies HUD's current Good Faith Estimate and Settlement Statement forms, which you'll want to review thoroughly before you buy a house.
Q.) I'm a Realtor. Is this a course I should suggest to my clients?
A.) Taking Make Your Move can benefit you and your clients. "The home-buying process can be confusing and overwhelming," said Bill Towey, Realtor/broker, GRI/ABR/CRS. "Buyers who have taken a home-buyer education course are easier to work with, since they have a better understanding of what decisions they will have to make, what is expected of them, and what they can expect from the professionals involved. The detailed information provided in Make Your Move makes it an excellent reference tool for any buyer."