If you are experiencing problems with your mortgage and need help with foreclosure prevention or a mortgage modification, our agencies can help. Members are HUD certified and can help with your housing needs. Agencies also assist as needed with pre-purchase certifications or Reverse Mortgage Counseling (HECM).
Pre-Purchase Homebuyer Education and Counseling
Member Agencies' Pre-Purchase programs assist borrowers looking to purchase a home for the first time, as well as those who may have faced challenges in a previous homeownership experience. Borrowers learn terminology involved with real estate purchases, how to better understand paperwork and loan documents and to recognize their rights and responsibilities during the purchase process as well as the on-going homeownership experience.
Post-Purchase Homebuyer Education and Counseling
This service helps homeowners address changing circumstances. Home Maintenance & Financial Management education addresses actual home maintenance issues to lower homeownership costs and expenses. Financial Management helps home owners address issues related to non-mortgage credit and debt management allowing for ongoing stability in the housing situation.
Housing counselors assist clients who are facing foreclosure by seeking modifications to loan agreements and mitigation to reduce risk.
Frequently Asked Questions
What housing services do Agencies provide?
Members' Housing Counseling and Education Services include the following areas:
- Homebuyer Education
- Predatory Lending Education
- Pre-purchase Counseling
- Post-purchase (non-delinquency) Counseling
- Mortgage Delinquency and Default Resolution Counseling
- Foreclosure Mitigation
- Renter’s Housing Counseling (and Fair Housing)
- Homlessness Prevention and Counseling
How much do Agencies charge for housing counseling?
Agencies provide housing counseling without charge to persons who demonstrate they cannot afford the fees. (No person shall be turned away for services based on the inability to pay or financial hardship*.)
Fees MAY be charged for the following:
- Pre-Purchase Certification (1st Time Homebuyer)
- Homebuyer Education
- Post – Purchase (non-delinquency)
- Renters Assistance
There is NO CHARGE for the following services:
- Homelessness Prevention
- Fair Housing
- Foreclosure Prevention counseling
*Financial hardship is determined only after a complete budget has been developed and reviewed with the client documenting household financial circumstances including all household income, expenses and all debt. Clients who can afford fees shall be charged whatever portion of costs incurred for certain programming, that are not covered by grant funding, including from HUD or other financial support sources such as community funds, creditor/lenders and other program fees.
I’m late on my house payment. Can I be helped?
Agencies can help by assisting you to contact your lender/servicer. They also guide you through the application process for assistance, delinquency resolution and foreclosure mitigation.
I am thinking about buying a home. Where do I start?
First, if you haven’t already, open a savings account to begin saving up your down payment. Next, call an agency. The Agency will help you review your goals, budget and financial stability to make the best housing decisions for your family. They will help you determine if owning a home is right for you and how much home you can truly afford. Homebuyer Education will help you understand the homebuying process, navigating underwriting, and recognizing the documents you will be asked to sign at closing.
Contact an Agency Now 888-326-8026 Find an Agency
Information courtesy of Member Agency Credit Advisors Foundation