Housing and Financial Counseling
The mission of Housing and Financial Counseling is to help homeowners who have housing and/or financial issues related to housing.
Default Loan Counseling
- Default Loan Counseling helps homeowners understand the various foreclosure avoidance options. We help you apply for the options for which you might qualify. Typically these options include:
Making Home Affordable Program
- The Making Home Affordable Program (also known as the HAMP program) is a federal government loan modification program. It is the most popular loan modification program in the country today. Over 1.4 million homeowners have started a trial modification under the Home Affordable Modification Program (HAMP), and over half a million homeowners have received permanent modifications reducing their mortgage payments by an average of over $500 every month. In total, homeowners have already reduced their mortgage burden by over $4.5 billion through HAMP permanent modifications.
Home Affordable Foreclosure Alternative
- The HAFA (Home Affordable Foreclosure Alternative) program is an option available to individuals who qualify for HAMP but either failed in the trial phase or defaulted on the HAMP modification.
Home Affordable Refinance Program
- If your home value has fallen while your mortgage payments have increased, and Fannie Mae or Freddie Mac owns or guarantees your mortgage, the government’s Making Home Affordable program may have a refinance option for you. It’s called the Home Affordable Refinance Program (HARP).
- HARP Refinancing is only available to financially stable borrowers who already have a Fannie Mae or a Freddie Mac mortgage and have been keeping it current for at least the past 12 months.
Deed in Lieu of Foreclosure (DIL)
- Standard DIL transfers title back to the bank in lieu of foreclosure. This option is available if the debtor has no other financial encumbrances on title.
Standard Short Sale
Sell property and walk with earned equity and start fresh.
Other Homeowner Counseling
- Refinance counseling
- Equity building
- Housing rehab referral
- Increase curb appeal
- Make your home more appealing to buyers
- Budget and saving for home maintenance
Pre-home Buying Counseling
- The true cost of being a homeowner
- Credit pull/review/repair/dispute/LOE (letters of explanation)
- Budgeting and saving for the down payment
- Strategies to avoid mortgage default once you are a homeowner
- Explain the home buying process (finding an agent/ selecting lender/ pre- qualifying for a loan/ loan approval/ title and escrow/ underwriting and appraisal/ closing the loan
- Private Mortgage Insurance (PMI)
- Predatory lending
Other…
- Budget counseling, one-on-one counseling
- Credit counseling one-on-one
Please contact: (707) 269-2031
for more information about services.
Housing Rehabilitation
