Mortgage counseling services on the rise
Consumers looking for relief from foreclosures, short selling, or credit card debt are receiving help as many cities are now offering homeownership workshops.
The classes, which cover topics such as time lines for buying a home, legal processes and home mortgage questions are popping up with increasing frequency in cities like Urbandale, Iowa, Boston, Massachusetts, and Palm Beach, Florida.
The events in South Beach are sponsored by various non-profits, big lenders such as Chase and Bank of America, and government agencies, including the Making Home Affordable Program, put in place by President Barack Obama, The Miami Herald reports.
At these round table financial discussions, consumers facing imminent foreclosure and default can get information by bringing samples of financial information such as monthly mortgage statements, pay stubs, expense estimates or proof of account balances, Florida’s Sun Sentinel says.
In some instances, consumers may even be able to fill out the necessary paperwork for mortgages and meet with certified counselors. The events are typically free, although most require some form of prior registration.