House Refinance Center
How To Get Housing Counseling Help
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Housing counseling should be mandatory. Lenders should insist that if a home
buyer needs a loan he has to take a class in pre-purchase counseling. Also, if a
homeowner is facing foreclosure he should take a class in foreclosure
prevention counseling before asking for a formal loan modification.

Can housing counseling really help a home buyer or a homeowner facing
foreclosure? We certainly think so. The topics covered by many companies in
this field are important and current. Here are some issues that the "student" will
find worthy.

Foreclosure Prevention Counseling.

Understand the foreclosure process and become familiar with the terminology
used in the foreclosure documents.

Find out what programs are available at the state level of government.

Prepare a budget.

Prepare an action plan.

Become familiar with the various options facing a person in foreclosure.

Learn how to interact with the mortgage lender or loan servicer.

Understand the benefits of having a professional housing counselor speak to the
lender on your behalf.

Have a professional housing counselor review your mortgage.


Pre-purchase Counseling.

Prepare an estimate of your closing costs.

Prepare a spreadsheet with the general recurring expenses involved with
homeownership. For example, you should have an estimate of your water bill,
your electricity, house insurance, appliances warranties and property taxes.

Discuss the types of mortgages available on the market today.

Help you decide which is the best mortgage for your specific needs.

Understand what a prepayment penalty is and how to avoid it.

Decide how much house you can afford.

Understand why you should never buy the maximum, just because the bank is
willing to lend you the money.

Calculate the amount that you should have as a safety net. Some people like to
save three months worth of expenses. Others prefer to save four months or
more. If your job is one that it takes a year or more to find another one, you
should set aside six months minimum.

When you are ready to buy a house, a home buyers workshop is the place to
start. At the end you will get a grasp of points, indexes and margins, and even
the complexity of the Good Faith Estimate (GFE).
Housing Counseling: Helping You
Get A Home, And Keep Your Home
Questions You MUST Ask
The Mortgage Lender Or
Broker
Not all mortgages go smoothly. There are
always bumps along the road. You must find out
how jump over or move around these obstacles
before you sign your life away.

The two big questions are one, how do I get out
of this deal? And number two, how much will it
cost me to cancel the deal.

Why would I want to cancel the mortgage. There
are a hundred reasons including, divorce,
buying a different house, the current lender
sucks when it comes to service, a better rate is
offered across the street and "I don't have a
job".
Watch the slideshow.
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