Despite home loan modifications, alternative mortgage assistance through in-house modifications, and other foreclosure prevention initiatives by the Making Home Affordable Program and mortgage servicers, homeowners still continued to struggle with their mortgage payment in certain cases. Yet, there have been many suggestions made by a variety of sources that range from mortgage servicers to governmental representatives who are in favor of homeowners seeking assistance from home loan counselors.
While there are warnings about scams perpetrated against homeowners by fraudulent companies, there are housing counselors available to help homeowners who may be struggling with the possibility of foreclosure or who might be in the modification program, attempting to get an affordable monthly mortgage payment.
Homeowners can consult resources like the Making Home Affordable website, the Department of Housing and Urban Development, and other governmental resources to find HUD-approved housing counselors or reputable counselors they can help homeowners avoid foreclosure and find an affordable solution to their mortgage difficulties.
Housing counselors, while they can be quite beneficial, are no guarantee for a homeowner who may face foreclosure but rather they are simply being suggested by officials to assist homeowners in finding the mortgage aid they seek or at least getting the best mortgage assistance plan for their situation.
Again, HUD housing counselors and the HOPE Hotline and website are some of the safe resources that have been consulted by homeowners over the past months when they have found foreclosure to be a real possibility in their financial life. Understandably, some homeowners may be unable to benefit from these housing counseling opportunities, but for many, this type of assistance has helped guide them through the modification process or as aided them in their pursuit of a more affordable home loan payment.