Top Housing Counseling Questions
- I’m looking to purchase a home for the first time, what information can Consumer Credit Counseling Service offer me?
- I recently purchased a new home and need advice on financial planning and/or home maintenance.
- The bills are piling up and I’m not sure if I can make my next mortgage or rent payment, what should I do?
- I am one month or more behind on my mortgage payments, how can I prevent having my home foreclosed on?
- Does Consumer Credit Counseling Service offer Pre-Homebuyer Education workshops?
- I’m a renter and need help resolving a problem; does Consumer Credit have information for me?
- I’m 62 or older and own my own home. I’ve been considering applying for a Reverse Mortgage loan but would like more information about it first. Can Consumer Credit offer help?
1. Pre-Purchase Homebuyer Counseling
Purchasing your first home can be a daunting task and Consumer Credit is committed to helping consumers understand the challenges and rewards of purchasing a home. During a Pre-Purchase counseling session our counselors will:
- Administer a pre-qualification worksheet to determine if a client is financially ready to purchase a home.
- Following the pre-qualification worksheet, clients complete a REACH approved Homebuyer Education Pre-Test to gauge their knowledge of the home buying process.
These counseling sessions are offered by appointment only and are free of charge.
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2. Post-Purchase Homebuyer Counseling
Post-Purchase counseling serves many roles. It looks to ensure that the homeowner will have ongoing support once they’ve purchased a home; and that the homeowner’s homeownership experience is successful and positive. Additionally, counselors will provide:
- Assistance to help homeowners handle budgeting and financial planning.
- Information on routine and preventative repairs and maintenance on their home.
These counseling sessions are offered by appointment only and are free of charge.
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3. Delinquency Prevention
Many first-time homeowners may need help adjusting to the financial responsibilities of homeownership. For this reason CCCSN offers a comprehensive program that:
- Assesses the reason for delinquency
- Works with you to contact your lender in order to discuss a possible solution or other options.
These counseling sessions are offered by appointment only and are free of charge.
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4. Foreclosure Prevention
If you’re one month or more behind on your mortgage payments, you may be thinking that foreclosure is just around the corner. This is the time you are most vulnerable to being taken advantage of by predatory lenders. Don’t answer those ads that promise you an easy way out of your situation – as the saying goes, “if it sounds to good to be true, then it probably is.” Instead, come in and speak with a Consumer Credit counselor who will provide you with information you can use to successfully improve your financial situation. In the counseling session your counselor will:
- Assess the reason for delinquency
- Work with you to contact your lender in order to discuss a possible solution or other options
- He or she may suggest you enroll in our Debt Management Program in order to get your unsecured debt under control and free up more of your income to pay towards your mortgage.
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5. Homebuyer Education Programs – “A Place of My Own”
The “A Place of My Own” program offers you, as a future homebuyer, basic knowledge and information about the buying process, so that you can go through the actual steps of home buying more successfully and confidently. This free Homebuyer’s Education program will help you:
- Determine if the time is right for you to buy a home.
- Budgeting and homeownership goals.
- Credit how it will affect the purchase of your home.
- Mortgage products and guidelines.
- The right questions to ask you Lender and Realtor.
- Understanding the application thru closing process.
- How to protect your new investment.
- Life as a new homeowner.
For a complete list of when and where these classes are offered, please visit the Calendar of Events page.
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6. Rental Counseling
The primary goal of rental counseling is to help clients help themselves prevent and resolve problems through education about:
- Legal and practical aspects of the situation
- The importance of communication
- Community resources and options
These counseling sessions are offered by appointment only and are free of charge.
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7. Reverse Mortgage Counseling
CCCSN is an AARP and HUD approved Reverse Mortgage Counseling Agency. One of the first questions most consumers ask regarding a Reverse Mortgage loan is, “What is a Reverse Mortgage”? The answer is both simple and complex, which is where Consumer Credit steps in. In simple terms, a Reverse Mortgage is a specialized loan that allows you, the homeowner, to convert part of your equity into tax-free funds. However, there are many factors to be considered before you obtain Reverse Mortgage loan and your counselor will help you to fully understand:
- The features and benefits of a Reverse Mortgage product
- Your eligibility
- The products and payment options that best fit your needs using a Reverse
Mortgage product
- They will also dispel misconceptions about Reverse Mortgages.
After attending this session you will receive Certificate of Counseling which is re-quired before obtaining a Government Guaranteed Reverse Mortgage (HECM). These sessions are free of charge, last no more than two hours and are offered at all Locations listed on the Calendar page. Call individual locations nearest to you or our toll free number 1-877-494-2227 to set up your appointment.
