Housing Choice Vouchers are for first-time buyers. You are not required to work with a specific real estate agent or any specific lender when getting a home loan. Ask a real person any government-related question for free.
They'll get you the answer or let you know where to find it. Postal Service Issues. Share This Page:. Making Home Affordable. Homeowners can lower their monthly mortgage payments and get into more stable loans at today's low rates. And for those homeowners for whom homeownership is no longer affordable or desirable, the program can provide a way out which avoids foreclosure.
Under federal law and some state laws, a servicer can't start or continue with a foreclosure while your completed application is pending.
You might end up getting a more affordable mortgage payment for the future or qualify for a loss mitigation option that you hadn't previously considered. To find a counselor near you, go to HUD's website or call If, even after reading about the benefits of using a HUD-approved housing counselor, you decide not to use one, be sure that you have a good understanding of the different types of available loss mitigation options before you talk to your servicer about ways to avoid a foreclosure.
Also, consider talking to a lawyer if you have questions about how the foreclosure process works in your state or you think you might want to fight the foreclosure in court and need to find out whether you have any defenses to a foreclosure. The information provided on this site is not legal advice, does not constitute a lawyer referral service, and no attorney-client or confidential relationship is or will be formed by use of the site.
The attorney listings on this site are paid attorney advertising. In some states, the information on this website may be considered a lawyer referral service. Please reference the Terms of Use and the Supplemental Terms for specific information related to your state. Grow Your Legal Practice. Meet the Editors. HUD-approved housing counselors will work with you, free of charge, to help you avoid foreclosure.
How Housing Counseling Works When you contact a HUD-approved counseling agency, you'll be scheduled for an interview, typically by phone or in-person with a counselor, though w ith some agencies, you can meet via Skype. During the counseling session, the housing counselor will likely: discuss your current financial situation evaluate your current spending habits help you to figure out a budget that will set the maximum amount you're able to pay towards your mortgage each month explore the reasons why you fell behind in payments, which are usually the basis for a hardship letter or affidavit help you figure out what options are best for you, and recommend your next steps.
Because of this, you can have confidence that a HUD-approved housing counselor is well equipped to help you understand and evaluate your options. HUD-approved housing counselors provide foreclosure prevention counseling free of charge. They can also help you talk to your mortgage servicer and understand any options your servicer has offered.
A HUD-approved housing counselor can also help you learn about the homebuying process. This information is generally on your last mortgage loan statement.
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