Weathering the Storm: Have IDAs Helped Low-Income Homebuyers Avoid Foreclosure?

This report includes data on 831 homebuyers in 17 states who purchased homes using Individual Development Accounts (IDAs) between 1999 and 2007. Data show that low-income homeowners who participated in programs that used IDAs to purchase homes were two to three times less likely to lose their homes to foreclosure. Additionally, IDA homebuyers were able to obtain significantly preferable mortgage loan terms.