Housing counseling assistance has benefited homeowners in various ways as some may get advice on how to best work their way through the federal home loan assistance program, while others are getting advice on opportunities that may go beyond this federal initiatives to help homeowners find more affordable monthly payments or get assistance when it comes to making payments altogether. Yet, there are still some homeowners who are either unaware of or not taking advantage of these counseling assistance programs, despite the fact that there were some positive numbers recently released here in October showing how these plans have been used.
Data from the month of August indicates that homeowners who contacted the HOPE Hotline increased from the previous month as Treasury Department reports show 29,405 homeowners received free housing counseling aid in July while 31,572 had received this assistance in the month of August. Also, about half of the homeowners who are contacting this hotline are receiving assistance as a result, which can be helpful in streamlining the application process, helping homeowners understand what modifications will entail, and how alternative programs may be able to help more thoroughly.
Problems that have arisen in terms of housing assistance have been issues that both homeowners and mortgage servicers have caused, but for homeowners to have a less frustrating experience when it comes to getting assistance it will be vital for them to make sure that they submit all of their documentation properly, fill out applications effectively, and cite financial hardships so that they can better make their way through this application process. In some ways there are housing counseling assistance representatives that can help homeowners with understanding what will be required of them in this process, and it may help homeowners reduce mistakes or problems that could potentially hinder their qualification for mortgage assistance.
Homeowners are still seeing problems when it comes to dealing with their servicer though as trial modification plans have lasted too long for some homeowners, but there are homeowners who have to deal with the stress of applying for and waiting to hear from these assistance plan, and this can create a great deal of concern for those who are facing the potential loss of their home. Yet, this stress can be made even worse if a homeowner is denied or must submit more paperwork, but again not all of these problems have always fallen to the homeowner.
However, the way that homeowners have used this housing counseling assistance to their advantage is by simply getting the information and the understanding they need so that any problems that do arise will not be of their own actions, and homeowners may also better understand if they will even qualify for certain types of mortgage assistance plans. While state housing agencies can also offer foreclosure prevention assistance to homeowners in need, these housing counseling resources may better help these men and women who are struggling from financial setbacks and looking for ways to keep their home make the best choice of what assistance plan to pursue and be in a better position to work their way through an application process.