Homeowners who are facing default on a mortgage can avail themselves of this HUD counseling program. The initial counseling session focuses on determining the amount and extent of the default, cause of the default and whether there is a reasonable possibility that the mortgage holder would be able to bring the account current. If it appears that the account can be brought current, the counselor works with the client and the mortgagor to arrange a mutually agreeable and realistic payment plan.
Let Us Show You Your Options
There are other ways to get out of debt. Options that won't put everything you have worked for at risk. And we will make sure you understand all the options open to you. Our help is free. LIHP's HUD certified housing counselors will help you understand your options, organize your finances and represent you in negotiations with your lender, if you need this assistance.
Don't Ignore The Problem
- Contact your lender as soon as you realize that you have a problem.
- Open and respond to all mail from your lender.
- Know your mortgage rights.
- Understand foreclosure prevention options.
- Contact a HUD-approved housing counselor (LIHP is HUD approved).
- Prioritize your spending.
- Use your assets.
- Avoid foreclosure prevention companies.
If you have questions about what you are signing, call us for advice.
Homeowners who are facing a default on a mortgage can take advantage of this counseling program. If LIHP determines that there is a reasonable possibility of bringing the homeowner's account current, the counselor arranges a mutually agreeable payment plan between the client and the mortgagor.