| Owning one's own home is, for many, the cornerstone of the American Dream. Recent literature and policy discussions link the benefits of homeownership to economic, social, and psychological well-being. However, while these links have been identified, they have not been fully explored with regard to low-income households. Yet, proponents of asset accumulation as an anti-poverty strategy advocate homeownership as a viable option. Homeownership only assists in the development of wealth and welfare benefits if it is sustainable---if low-income households can avoid mortgage foreclosure. The underlying question that guided this research was: is homeownership a viable antipoverty strategy for rural, Central Appalachian households living in poverty?;This study explored the relationships between household, loan, and community-level characteristics of low-income borrower households, and mortgage repayment outcome. Framed within an ecological perspective, it is important to understand how these characteristics are associated with repayment outcomes. Understanding predictors of repayment outcomes may help nonprofit housing providers and policy makers to better serve the needs of rural, low-income households who are pursuing homeownership. Extant research on mortgage repayment performance does not specifically address rural households. Given the many differences between rural and urban households, to study this issue with particular emphasis on a group of rural, Southern households provides a valuable contribution to the literature.;Within social work, housing related research often focuses on homelessness, transitional housing, and affordable rental housing. Given the movement toward anti-poverty policy focused on the creation of assets and opportunities, examining homeownership as a part of the anti-poverty puzzle is timely and important. Is homeownership viable? Does homeownership create opportunity for social and economic benefit? While this research does not attend to these broader questions, it highlights the importance of understanding for whom ownership is viable, and serves as a starting point for scrutinizing the benefit of homeownership for low-income households.;The primary findings from analysis suggest that being a single female head of household at the time of loan origination and mortgaging a home within a rural remote area increase the odds of mortgage foreclosure and loss of the asset. Implications of these findings are discussed.;Keywords. Homeownership, Central Appalachia, Asset-Based Social Welfare Policy, Mortgage Foreclosure... |
