Pre-Purchase Housing Counseling

Member Cost:

Pennsylvania:  No Charge 
 NJ and DE:  $125

Before you get the keys to your new home, let’s make sure you are ready and there are no surprises. We want you to understand every penny you’ll commit to your loan, taxes, insurance, maintenance and other monthly expenses.

Here’s what to expect at your counseling session:

  • Complete a budget and credit analysis to determine your affordability to borrow
  • Discuss the advantages and disadvantages of homeownership
  • Review the cost involved and the available cash needed for down payment and closing costs
  • Review the types of mortgages available, including financial assistance and grants through First Time Homebuyer programs
  • Review your credit report and discuss ways to improve credit
  • Determine if you are ready for homeownership
  • Review the importance of a home inspection and how to use as a negotiating tool
  • Develop an Action Plan
  • Provide continued education and follow up until closing

Members receive a certificate that can be used to fulfill requirements of a number of area credit enhancement and down payment assistance programs.



Foreclosure Prevention and Mortgage Default Counseling

Member Cost: No Charge

We work with you to identify all options available so you can become current on your mortgage and stay in your home.  We’ll start with a current budget analysis and establish a realistic household budget. We review loan modifications, repayment plans, forbearance and other workout solutions.

Here’s what to expect at your counseling session:

  • Obtain a clear understanding of objectives
  • Determine your objectives and the time frame available to accomplish them
  • Complete a current budget analysis and work with you to establish a realistic budget
  • Help bring your mortgage current if only budget concessions are necessary
  • Determine the reason for your default
  • Work with your mortgage servicer to help obtain a loan modification, repayment plan, forbearance or other workout solution
  • Develop workout proposals to prevent foreclosure under state specific programs where you may be eligible
  • Discuss your options and what is best for you
  • Create your detailed case Action Plan

 

Pre-Rental Counseling

Member Cost: No Charge

Because home ownership isn’t right (or even possible) for everyone, we’re ready to help you rent happily ever after. It starts with rental smarts, understanding your goals, building a budget, knowing what’s really affordable and living securely without fear of eviction.

Here’s what to expect at your counseling session:

  • We’ll look at your budget, check your credit and talk about where you live now.
  • If you’re behind on your rent now, we'll get you back on track with a real budget plan.

 

Reverse Mortgage Counseling 

Member Cost: $100

You’ve been good to your home for all these years. And now it can be good to you, as a potential source of income with a reverse mortgage. To make sure you understand this potential solution, lenders require a session with a HUD-certified counselor.  A reverse mortgage is only available to seniors 62 and older.

Here’s what to expect at your counseling session:

  • One-on-one counseling about your reverse mortgage from the inside out
  • How it’ll work, what it costs, how you might benefit, all the risks, and whether it really makes sense for you
  • What are all the options? We'll lay them out and ponder carefully
  • We'll compare plans, create the best budget and give you all the tools with which to decide
855-761-4975