Are you looking for an affordable rental home?
Perhaps you’ve decided that now is the time for you to purchase your own home.
Maybe you already own a home and have concerns about your ability to make the monthly mortgage payment?
Are you facing foreclosure and don’t know where to turn?
Are you 62 or over, own your home and want to learn more about reverse mortgages?
Whatever your question or situation, FCAA HUD approved member agencies have the expertise and are ready to help.
There are many programs available for homebuyer assistance on the state and local level. Let a HUD approved FCAA member agency work with you to help you find those much-needed resources.
Rental counseling is ideal in many situations. It will help you prepare a realistic budget, help you to understand your credit report, implement plans to improve your credit score and help you learn your rights and obligations as a renter. You will also gather insights that could be useful in resolving tenant/landlord disputes. You may be eligible for rental assistance; a HUD approved credit counseling agency can explain all of that to you.
Pre-Purchase Homebuyer Education
Whether you’re a first-time homebuyer or looking for a new place to call home, there’s a lot to think about when it comes to the purchase. How much do you know about the process? Do you have money for a down payment? How’s your credit score? Can it use some improving before you apply for a mortgage? (Keep in mind your credit score plays an important role in a lender’s decision to extend credit to you; not just whether or not you’ll get the loan, but also the interest rate on the mortgage.) It’s just as important to understand the initial steps to homeownership (i.e.: shopping, legal documents, mortgages) as it is the ongoing maintenance of keeping your home in excellent condition. If you’re taking advantage of a homebuyer assistance program in your state, then pre-purchase homebuyer education will be mandatory. No matter the question, a certified housing counselor can guide you through the homebuying process.
Life is great in your home. What’s next? You want to make sure you stay on budget so that your home is well maintained with needed repairs taken care of in a timely manner. You also need to ensure the mortgage and taxes are paid in a timely manner. Creating a post purchase budget will allow you to keep on track with all your monthly payments and enable you to account for any potential home repairs and maintenance.
Reverse Mortgage Counseling
A Home Equity Conversion Mortgage (HECM) is the only reverse mortgage insured by the federal government. An option for individuals 62 or older who have equity in their homes, a reverse mortgage enables you to withdraw a portion of the equity that has built up in one’s home. No more monthly mortgage payments, as the loan gets repaid when the homeowner dies or moves out. Taxes will still need to be paid as well as any homeowner association fees (if applicable). Reverse mortgage counseling is mandatory to receive a loan.
Foreclosure Prevention, Mortgage Delinquency and Default Counseling
Foreclosure prevention, mortgage delinquency and default counseling is for those who are either in default or concerned about their ability to make the mortgage payments. Because foreclosure is not always the best option, it is important that if you find yourself in this situation you reach out to a foreclosure prevention counselor to review your budget, discuss your current financial circumstance and find the solution best suited for your situation.
FCAA member agencies are ready to answer your housing questions.