High School Homeownership Education

Effective January 2009, Senate Bill 2387 (Public Act 95-0863) requires that school officials add homeownership education, including lessons on mortgages to their consumer education curriculum.

The Senate gave its approval to Senate Bill 2387. This bill adds homeownership, including the basic process of obtaining a mortgage and the concepts of fixed and adjustable rate mortgages, subprime loans, and predatory lending, as a component of consumer education courses taught in Illinois high schools.

As a licensed real estate professional, I believe this is a good addition to consumer education.

One of the very first steps in buying a home is mortgage pre-approval.