Homeowners seeking mortgage foreclosure prevention assistance may benefit from home loan counseling as approved and reputable counseling organizations may be able to either help homeowners through assistance programs, like home loan modifications, or provide options to homeowners which can help them find affordability in their monthly mortgage payment and avoid the loss of their home. Yet, many homeowners may have not used a housing counselor for a variety of reasons, but there are officials who say that homeowners who work with a reputable housing counselor may have a higher success rate at mortgage foreclosure prevention.
Understandably, home loan counseling is not a guarantee to homeowners who face the loss of their homes. However, recent reports have stated that the Department of Housing and Urban Development is providing grants for housing counselors in the hopes of assisting homebuyers who are looking for a home for the first time or preventing the loss of homes when homeowners face personal financial problems.
Opportunities for homeowners to work with housing counselors can be available through resources like the Making Home Affordable Program website or, again, the Department of Housing and Urban Development and many of these counseling agencies are deemed to be reputable so homeowners may be guarded against scams. There are individuals who feel that homeowners may have been hesitant to seek housing counseling assistance due to the fact that there have been fraudulent organizations that have put homeowners in a difficult financial position by offering housing counseling assistance.
Typically, homeowners can find free assistance from housing counselors, but advisers have often suggested that any company who offers a troubled homeowners the option to either assist them in finding more affordability in their home loan or help them through assistance plans like home loan modifications should be researched by the homeowner. Obviously, governmental websites and running a simple Google search can offer not only suggestions for reputable housing counseling agencies but can also warn homeowners against fraudulent companies or can provide feedback from homeowners who have worked with a specific organization.
While, again, homeowners are not guaranteed to find the foreclosure prevention assistance they seek by simply working with a housing counselor, but as more homeowners complain of difficulties when dealing with mortgage servicers or simply going through home loan modification processes, more housing counselors are being called on to assist these individuals who fear the loss of their home through foreclosure.