Hawks, Leona K.

McCay, Tawnee

English

DigitalCommons@USU

HOME OWNERSHIP FACT SHEETSCharacteristics of Households Experiencing Housing Instability Leona K. Hawks, Professor, Extension Housing Specialist                Tawnee McCay, Family Life Center Director FL/HO-06 March 20021. They use more than 20% of take home pay for debt repayments.2. They have very little knowledge of how much money they owe to creditors or haveavailable for household expenses.3. Savings are used to meet current expenses.4. They frequently borrow money.5. They rely heavily on overtime income and other sources of “unstable” income.6. Typically they spend 50% or more of their income on housing.7. Home equity lines of credit are often used to consolidate consumer debt.8. Troubled households that could have been helped were unaware of housing assistanceprograms.9. Poor money management was a major contributor to housing problems.10. Health is often neglected because when jobs are lost, health insurance is lost.  When newemployment is secured, the job is often of a nature that health insurance can not berestored.**Each USU County Extension Office has programs for people experiencing financialinstability.  One program that can help consumers is a debt reduction computer program called“PowerPay” that analyzes multiple debts and the amount paid in interest for loans.Source:  Virginia Cooperative Extension Service “Some Characteristics of FamiliesExperiencing Difficult Maintaining Housing Stability.”Utah State University is committed to providing an environment free from harassment and other forms of illegaldiscrimination based on race, color, religion, sex, national origin, age (40 and older), disability, and veteran’s status. USU’spolicy also prohibits discrimination on the basis of sexual orientation in employment and academic related practices anddecisions.Utah State University employees and students cannot, because of race, color, religion, sex, national origin, age,disability, or veteran’s status, refuse to hire; discharge; promote; demote; terminate; discriminate in compensation; ordiscriminate regarding terms, privileges, or conditions of employment, against any person other wise qualified. Employees andstudents also cannot discriminate in the classroom, residence halls, or in on/off campus, USU-sponsored events and activities.This publication is issued in furtherance of Cooperative Extension work. Acts of May 8 and June 30, 1914, incooperation with the U.S. Department of Agriculture, Jack M. Payne, Vice President and Director, Cooperative ExtensionService, Utah State University (EP/DF/03-02)

Characteristics of Households Experiencing Housing Instability

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Characteristics of Households Experiencing Housing Instability

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