Examples: The organization can review the client’s credit report, when available, to provide a greater understanding of how lenders evaluate credit and determine mortgage readiness.
Education and counseling prepare clients to shop for and select a home by providing information about:
the professionals involved in the real estate and homebuying process;
making an offer;
having a purchase contract;
home inspections; and
NAThe organization does not provide pre-purchase homebuying counseling and education.
Housing education and counseling address home maintenance and financial management topics including:
homeowner rights and responsibilities;
organizations that provide resources to assist with financial issues;
costs associated with utilities, taxes, insurance, and maintenance;
refinancing, reverse mortgages, home equity loans, and home improvement loans; and
calculating home equity.
NAThe organization does not provide home maintenance counseling and education.
Clients receive information to prevent or resolve mortgage delinquency that addresses, as applicable:
identification of the status of the client’s mortgage;
a budget that includes a review of income, living expenses, and other debts;
the repercussions of a defaulted mortgage and foreclosure;
the client’s options to resolve the mortgage crisis; and
services available that can provide assistance and relief for the client’s current crisis.
NAThe organization does not provide mortgage delinquency counseling and education.
The organization provides information regarding rental options, including:
HUD rental, rent subsidy programs, and other federal, state, and/or local assistance;
landlord tenant laws;
rent delinquency; and
housing search resources.
NAThe organization does not provide rental counseling and education.
Clients receive counseling and education regarding reverse equity mortgages that includes:
the benefits and disadvantages of a reverse equity mortgage;
the fees and associated costs of the reverse equity mortgage product;
time sensitivity issues related to the mortgage; and
indicators for foreclosure, such as death, sale of the property, or insurance or tax delinquency.
NAThe organization does not provide reverse equity mortgage counseling.
Organizations assist homeless individuals, as needed, and provide information and services, either directly or through referral, regarding transitional housing, emergency shelters, and other emergency services.