Mortgage Delinquency & Default Resolution Counseling
We assist homeowners with counseling and loan modification applications, which include assembling loan modification documents, reviewing hardship letters, and follow-up with the lenders. The impact of this service results in homeowners receiving mortgage modification trial periods with reduced mortgage payments and long-term restructuring options. These services prevent homeowners from losing their homes to foreclosure.
Our counseling sessions include a detailed credit counseling financial work-up comparing income to expenses to determine the deficit between the two entities. After making this comparison on a computer print-out, we explain to the client how to effectively create an affordable household budget, develop a plan of action to reduce and consolidate household debts, and identify ways to increase income.
As a result of our efforts, homeowners receive loan modifications which adjusts the original terms of their loan and reduce monthly mortgage payments. The impact of our counseling service allows residents to remain in their homes, relieves their anxiety about paying a high mortgage payment as well as monthly expenses, and creates a realistic family budget.