Foreclosure prevention counseling for homeowners
Consolidated Credit is here to help you achieve sustainable homeownership through foreclosure prevention counseling. Our experts are HUD-certified housing counselors, so they know the ins-and-outs of foreclosure prevention. They can go through all your available options and help you identify the best solution for your situation. Your counselor will also help you create a personalized action plan to get through this challenging situation.
On top of this, your housing counselor can help you understand solutions for foreclosure, which can either help you save the home or help you make a graceful exit should you decide that is the best option. Your counselor will also be able to provide information on all the government relief programs that may be available to help you, such as the HAF.
Homeowner’s Assistance Fund (HAF)
What may come as a surprise is that most people are unaware of the resources available to them like the Homeowner Assistance Fund (HAF). The purpose of the HAF is to prevent mortgage delinquencies and defaults, as well as foreclosures, loss of utilities, and displacement of homeowners experiencing financial hardship after January 21, 2020.
The Homeowner Assistance Fund can be used for mortgage payments, homeowner’s insurance, utility payments, and many other specified purposes. The law also prioritizes the allocation of funds to homeowners who have experienced the greatest hardships.
Here is a quick look at how the U.S. government has allocated funds through the HAF:
- A minimum of $50 million for each state, the District of Columbia and Puerto Rico.
- $498 million for Tribes or Tribally designated housing entities and the Department of Hawaiian Home Lands.
- And $30 million for the territories of Guam, American Samoa, the U.S. Virgin Islands, and the Commonwealth of the Northern Mariana Islands.
Rental counseling to prevent eviction
Rental counseling does the same thing for renters that foreclosure counseling does for homeowners. It helps you develop a realistic budget and identify programs that can provide relief money if you’re facing eviction.
Often low-income households encounter a gap between what they can afford to pay and the local housing market prices. This is where a counselor will help a client find rental assistance to fill that gap.
Consolidated Credit’s rental counseling team can help prevent evictions by going over tenant rights and responsibilities, working with landlords to preserve stable housing, developing sustainable household budgets, as well as connecting clients to eviction prevention and rental resources.
Here is how the process works:
- A counselor will assess your housing and financial situation.
- From there they will help you create a personalized budget and set realistic financial goals.
- Counselors will also guide clients on how to improve credit scores and manage debt.
- From there, they will connect you with resources that may assist with back rent, current rent payments, and utility bills.
- They will also teach you about your rights as a renter and can even help resolve landlord and tenant disputes.
- If you face a situation where eviction is unavoidable, they can help you create an action plan to transition out of the property.
If you need assistance as you work to save your home, Consolidated Credit’s housing counselors have the necessary experience to help you develop your own personal housing stability plan. Call us today at 1-800-435-2261 to speak with a HUD-certified housing counselor or request a consultation online now.
