During this difficult time you may be overwhelmed with contact from your bank*. You may receive phone calls from collection departments demanding mortgage payments immediately. You may come home to find your mailbox filled to the brim with letters and documents requesting that you contact your bank* immediately. There may even be individuals that drive by your house and take pictures on a regular basis. All of this activity may leave you with feelings of stress and despair. However, you can TAKE ACTION TODAY! by contacting a Housing Counselor and by identifying and responding timely to Notices that are being sent by your bank*. By seeking assistance and responding to notices your rate of success will increase.
Why a Housing Counselor
A HUD-Certified Housing Counselor can be an invaluable resource for you and your family during this difficult time. A HUD-Certified Housing Counselor is a trained and experienced counselor that can advise you of all the options that are available to you to “prevent unnecessary foreclosure.” Your HUD-Certified Housing Counselor has received extensive training in the foreclosure process and has signed the “National Code of Ethics” for Housing Counseling.
Your Housing Counselor Can:
- Increase your rate of desired workout success to 86% versus 12% success on your own
- Does NOT charge fees for their services (there maybe fees for credit reports)
- Provide valuable knowledge and will assist you in identifying bank* specific programs that you may qualify for
- Assist you in developing a plan of action
- Work as your advocate with you bank*
- Clarify documentation that is required by your bank* to be considered for a workout option
- Review documentation prior to submission to the bank* to ensure that the documents are: complete, accurate and correctly filled out
- Assess your financial situation and make suggestions for budget changes that could lead to better financial health for your family
- Contact your bank* regularly to provide status updates and ensure that your documentation is under review and that no additional documentation is needed
- Provide you will a list of local and National resources that may benefit your specific situation
Contact the Washington Homeownership Resource Center immediately
to be connected with a Housing Counselor today!
* Bank, Lender, Servicer, Credit Union, Mortgage Holder