Assistance With Getting A Home Loan Modification–Housing Counselors Aid Homeowners Through HAMP

Numerous homeowners have been seeking a lower monthly mortgage payment through home loan modification programs from various mortgage servicers. While there have been homeowners who were able to take advantage of these modification plans to get a more affordable home loan payment, there have been homeowners who have struggled through the Making Home Affordable modification process or have had difficulty with in-house mortgage assistance options available directly from financial institutions.

However, many homeowners have turned to housing counselors as a way to assist them through the modification program. While housing counselors are no guarantee to a home loan modification, there are numerous representatives who have aided homeowners in their search are more affordable homes over the past months.

Housing counselors which are approved by the Department of Housing and Urban Development are often the suggested by financial advisors who are dealing with homeowners that may be traveling on a difficult road to a home loan modification. The Making Home Affordable Program’s HOPE hotline has been made available to assist homeowners who are seeking a home loan modification by offering, in some cases, consultations with HUD-approved housing counselors.

While homeowners are cautioned to lookout for scams from fraudulent companies who may seek to take advantage of homeowners that are struggling with their mortgage, these housing counselors that are approved by the Department of Housing and Urban Development have typically guided homeowners to the best modification they can receive for their financial situation. Again, there are homeowners who still struggle with their mortgage payments and are denied a modification, but more recommendations are being made that homeowners seek out these housing counselors if they have trouble dealing with their mortgage servicer or are simply unsure about how to proceed in the modification process.