HUD Approved Counselors

How to Find an HUD Approved Counselor Before Foreclosure
HUD Approved Counselors - If you are experiencing great financial distress and are concerned about foreclosure in your future, then you may wish to speak with an HUD approved counselor. Speaking with an HUD approved counselor will help you figure out which options you have as an alternative to foreclosure. An HUD approved counselor often knows which government programs exist and that can help you manage a difficult financial situation. You may be eligible to qualify for lowered monthly payments or a decreased principle balance on a loan when you work with an HUD approved counselor.

Finding Your Local Branch - The first step to find an HUD approved counselor who can help you is to discover your local HUD branch. You can visit the website for the U.S. Department of Housing and Urban Development (HUD) to find a local branch near you. There is also a telephone number that you can use to find your local branch, and that is 888-995-HOPE. You can call this phone number for 24 hours a day.

Helping You Avoid Foreclosure - When you schedule a meeting with an HUD approved counselor, you will not have to pay any extensive fees. This is a major benefit of working with HUD approved counselors, since you usually have to pay a high fee to work with financial advisors. The HUD approved counselor will also explain which mortgage documents you need to gather in order to decide which option is best for your case. The government has stated that an individual is twice as likely to avoid foreclosure if he or she works with an HUD approved counselor.

Using Government Programs - One of the major benefits that you will receive from working with an HUD approved counselor is knowledge about government programs. The Making Homes Affordable program is one example of how a homeowner can reduce his or her monthly payments. This program is aimed at helping homeowners to modify their mortgages with lenders. Lenders will most likely modify a mortgage that an individual has, because they receive incentives under this program. A lender is able to receive up to $1,000 for modifying a person's mortgage.