Mortgage Default Counseling
With the unprecedented increase in foreclosures, homeowners need to understand their options more than ever before. At ClearPoint Credit Counseling Solutions, our housing counselors are trained to assist you in foreclosure prevention.
Your counseling session will provide you with the information you need to understand the loan modification process. Our specialists are in contact with the largest mortgage companies on a daily basis, assisting homeowners in communicating with their lenders and in understanding the steps required for an effective resolution.
After a thorough review of your income and expenses, as well as your debt and causes of delinquency, your Housing Specialist will familiarize you with the various timelines and the different programs for which you may be eligible. Loan modification programs are continually changing, and programs that were in effect yesterday may no longer be available today, so working with an experienced specialist who is up-to date on those changes will help save time.
Among the options your housing specialist may discuss with you are:
- loan modification
- leaseback
- forbearance
- a repayment plan
- a partial claim
- reinstatement
- a short sale; and
- a deed-in-lieu of foreclosure.
Although not all of these options are available to all homeowners , your Housing Specialist will guide you in the workout options relevant to your particular situation.
ClearPoint’s housing specialists receive ongoing training on internal programs specific to different lenders, as well as on the federal foreclosure assistance programs. These programs include:
- Making Home Affordable (MHA);
- Home Affordable Mortgage Program (HAMP);
- Home Affordable Foreclosure Alternatives Program (HAFA);
- Home Affordable Refinance Program (HARP);
- Cash for Keys;
- Deed for Lease Program; and
- for California residents, the Keep Your Home California Program (KYHC).
In cases where foreclosure is unavoidable, our specialists will help you organize an effective exit strategy that minimizes the detrimental impact on your future financial outlook.
ClearPoint Credit Counseling Solutions is a nonprofit, HUD-approved housing agency, accredited by the COA (Council on Accreditation) and the NFCC (National Foundation for Credit Counseling).
To schedule your free appointment for a Mortgage Default Counseling session, call 800.750.2227 (CCCS).
Related Articles:
- Shopping for free, trustworthy foreclosure prevention counseling.
- Spotting foreclosure scams.
- When to walk away from your home.
