If you dream of owning your own home someday, we can help make that dream a reality. Through our free Housing Education Program home buyer counseling and workshops, we provide information about the homebuying process, how much home you can afford, how to qualify for a mortgage, and how your credit report affects your ability to borrow.
Affordable Housing Programs for First-Time Buyers
The number of programs designed to help first-time home buyers is on the rise. What's available varies from place to place. To find out about the programs in your community, contact the city mayor's office, or, in unincorporated areas, the county housing authority. When you call, ask for information about special affordable housing programs for first-time home buyers and add your name to their mailing list. The various programs will have different requirements, but if you qualify, you just may become a homeowner sooner than you think.
If you have missed mortgage payments or think you will miss future payments, you may find yourself in danger of foreclosure. It is important to understand that lenders do not want to "repossess" your home -- they are much more interested in seeing that payments are made each month as agreed in the mortgage terms. As a general rule, lenders only begin foreclosure when all else fails. Therefore, the best way to avoid foreclosure (besides making all your payments) is to address the issue as soon as it occurs and to keep the lender informed at all times. As a HUD-certified housing counseling agency, we can help you understand your options when you are having financial difficulty. Call us at 800.777.PLAN for more information or to make an appointment with a professional counselor.
A reverse mortgage is a way for senior homeowners to access the money they have built up as equity in their homes. A homeowner at least 62 years old whose mortgage has been paid in full (or with a very low mortgage balance remaining) can “borrow" funds against the value of the home. The bank does not require that any of the money be repaid until either the home is sold or the owner moves out permanently or dies. At that point, the heirs can choose to keep the house and pay off the loan from their own funds or take a different type of mortgage out on the property. Or, the home can be sold. The bank will take what is owed them; if anything is left, it is passed along to the estate. The FHA insured reverse mortgage program and Fannie Mae reverse mortgage program both require counseling before the loan is approved. Our Housing Education Program is HUD-certified to provide reverse mortgage counseling. The fee is $200, but it may be waived in cases of financial hardship.