Housing Counseling For Troubled Homeowners Seeking A Modification–Does Counseling Aid Homeowners?

Troubled homeowners who worry about missing payments, have become delinquent, or are seeking home loan modification assistance do have opportunities for housing counseling from various sources, and many advisers often suggest trouble homeowners tap into these resources. Over the past months, many individuals who have had difficulty in their personal lives surrounding their finances have often found that meeting their mortgage payment has become problematic.

Obviously, in these cases, homeowners have turned to options like a home loan modification, but these assistance plans have not always been easily obtained and, for some homeowners in a particular situation, alternative assistance may be available. Sources for housing counseling assistance come from institutions like the Homeownership Preservation Foundation and the Department of Housing and Urban Development, but there may be local counseling agencies which can help homeowners with issues like avoiding foreclosure, the home loan modification process, and other issues related to homeownership.

However, housing counseling is not something that should be rushed into by homeowners without proper research. There have been fraudulent organizations which have perpetrated scams against homeowners who were in a difficult financial situation, and obviously, these companies have done more harm to homeowners than good. For this reason, many advisers suggest that homeowners research a housing counselor or make sure they deal with a reputable organization which can help address their home loan difficulties.

While there are also resources like the Making Home Affordable website that can also be consulted, homeowners who are attempting to find a solution to their mortgage payment difficulties may also contact their mortgage servicer as well. Many housing counseling services may offer their assistance for free, but if a fee is required there are advisers who suggest researching a particular organization and asking for a complete listing of fees which may be required up front.

Also, homeowners who may be attempting to sell their home should practice caution as there are also scams which have been used to get homeowners to transfer the deed to their home to a fraudulent organization. Understandably, the difficulties that many homeowners are facing are complex and troubling, but there are resources to provide assistance for individuals who are facing the loss of their home, but again, caution must be practiced on the part of homeowners so that their housing troubles will not be made worse by deceitful organizations.