The various United States agencies who are involved in housing released a comprehensive Homeowner’s Guide to Success. Among the agencies, involves are ICYMI , HUDgov, FHFA, DeptVetAffairs, USDA, MBAMortgage, USTreasury, CFPB and housing counseling agencies. The guide aims to help borrowers understand options when they cannot pay their mortgage.
Why read the Homeowner’s Guide to Success?
Having a new home is really exciting but maintaining it can be difficult. There might be times when you do not know what to do in a difficult situation. What will you do if you have late payments? What will you do in case of calamities or if suddenly you lost your job and cannot pay your loan?
Homeowner’s Guide to Success helps you with various problems on your home loan. It provides important contact information, advises and solutions to key problems that you might face in your loan. Among the helpful contents of the guide are:
- Information about your mortgage servicer
- Guide on housing counselor
- Mortgage assistance options available to you
- Understanding your home loan
- Helpful mortgage terms
- Fair housing information
One of the main aims of the Homeowner’s Guide to success is foreclosure prevention. When there is a danger of foreclosure it also means that the government will have to pay your loan and that is why they are helping you become a responsible homeowner. This is one of the contents which we find very useful.
Most of you may not know it but a HUD-approved housing counselor is free. There is absolutely no charge to work with a HUD-approved housing counseling agency when you’re having trouble paying your mortgage. ALso, the U.S. Department of Housing and Urban Development (HUD) supports a network of housing counseling agencies throughout the country. Housing counseling is available in many languages. The HOPE Hotline provides assistance from a housing counselor by telephone 24 hours a day, 7 days a week at (888) 995-HOPE (4673).
Finally, you can read the full Homeowner’s Guide to Success at THIS LINK.
For events which can educate you on responsible homeownership, you can check this schedule.