Navicore Solutions Reports Increase in Housing Counseling Clients with Higher Home Equity Amid Rising Costs of Homeownership
9/8/2025
MANALAPAN, N.J. [8 September 2025] Navicore Solutions, a trusted nonprofit credit counseling organization, is seeing a shift in the challenges facing today’s homeowners. Through its HUD-approved Housing Counseling Program, the organization notes that while clients often have considerable equity in their homes, they are increasingly burdened by escalating homeownership costs.
Recent reports show that while home values have appreciated over the past several years, the cost of maintaining homeownership, including mortgage payments, property taxes, insurance, utilities, and routine maintenance, has risen sharply. According to a recent Bankrate study, the cost of owning and maintaining a home is now $21,000/year.
As a result, even homeowners who have built substantial equity find themselves at risk of “cost burden”, defined as paying more than 30% of household income on housing expenses. Lower-income households, older adults, and single-parent households are disproportionately affected.
Navicore Solutions’ HUD Housing Counseling Program provides a crucial resource for these homeowners. Helping clients to assess the value of their home equity and understand their refinancing or home equity options and develop practical budgeting strategies to manage rising housing costs effectively. Additionally, Navicore can help clients explore options for avoiding foreclosure or managing delinquencies, including loan modifications and repayment plans. Clients can also make informed decisions about leveraging equity safely, such as Home Equity Lines of Credit (HELOCs) or reverse mortgages.
“Home equity can be a powerful financial tool, but rising homeownership costs mean that equity alone is not always enough to protect homeowners from financial stress,” said Michael Leon, Senior Director of Counseling at Navicore Solutions. “Our HUD-approved Housing Counseling Program equips homeowners with the knowledge and resources to use their equity wisely, maintain their homes, and safeguard long-term financial stability.”
Navicore Solutions continues to provide its counseling services to meet the evolving needs of homeowners, ensuring clients receive personalized guidance to navigate the challenges of rising housing costs while maximizing the value of their home equity.
About Navicore Solutions
Founded in 1991, Navicore Solutions is a national leader in the field of nonprofit financial counseling with a mission to strengthen the well-being of individuals and families through education, guidance, advocacy, and support.
Navicore counselors provide a wide range of services, including credit counseling to consumers in need; education programs through workshops, courses and written material; debt management plan to provide relief for applicable consumers; student loan counseling for those struggling with student loan debt; and housing counseling services in the areas of rental, pre-purchase, default and reverse mortgage. The agency is an advocate of financial education helping communities achieve and maintain financial stability.
Contact:
Lori Stratford
Digital Marketing Manager
Navicore Solutions
lstratford@navicoresolutions.org
navicoresolutions.org