Counseling Overview
The counselors for the 888-995-HOPE™ Hotline are provided through nine leading HUD-approved nonprofit allies:
- Auriton Solutions
- ByDesign Financial Solutions
- CredAbility
- Consumer Credit Counseling Services of Greater Dallas
- Consumer Credit Counseling Services of San Francisco
- Greenpath Debt Solutions
- Money Management International (MMI)
- Novadebt
- Springboard Nonprofit Consumer Credit Management
A 2009 Urban Institute Study found that homeowners who participate in housing counseling services are 60 percent more likely to avoid foreclosure. HPF provides third-party counselors who are certified and trained to set up a plan of action designed just for you and your situation. Counselors are available 24 hours a day, 7 days a week, to help you in over 160 different languages. When you talk to us, you won't be judged and you won't pay a dime. This service is free to homeowners.
We don't just offer general advice, we help you take action. Over 80 percent of homeowners counseled through the Hotline remain in their homes two years later (HPF Survey 5.1.10). Representatives will arm you with education and support that assists you in overcoming immediate financial issues.
Once the counselor completes the session, he or she will work to conduct a three-way telephone conversation with you and your servicer. Your servicer will then determine available options regarding any modifications or changes to your mortgage agreement.. The Hotline process is best summed up by these five, simple steps:
- A counselor will listen to your story.
- A counselor will review your finances.
- You and a counselor will explore options for resolving your housing problem.
- A counselor will present you with a plan for action.
- A counselor will connect you with a servicer.
Counseling Process
Homeowners need answers to their questions and need solutions to their problems. And housing counseling can provide that sort of solution. The problem was not created over night, and neither is the solution. We use a 5 step process to get find the best solution to your problem.
1. We answer the phone AND we listen. The homeowner needs to know that someone can help and wants to tell the story to someone who will listen. We do that, and in some cases the information that the homeowner reveals is the key to finding the solution.
2. We review the Finances. Counselors go beyond the facts and figures to examine the homeowner’s complete financial picture and to ultimately reveal the underlying issues resulting in the current financial situation.
3. EXPLORE OPTIONS FOR RESOLVING THE HOUSING PROBLEM - After reviewing the finances, we discuss the homeowner’s commitment to making changes and examining the realities of the existing loan. From this review, the counselor develops recommendations for the homeowner to consider in resolving their housing problem.
4. PRESENT AN ACTION PLAN - The counselor reviews an itemized action plan over the phone, and sends the plan in writing to the homeowner. This helps them make choices about the future, and helps them be more financially secure.
5. And Finally – we connect the customer with the mortgage company. It’s important to remember that the company servicing the loan is the only ones authorized to make changes to the mortgage, and the servicer also may need to get approval from the actual lender, investor or even a government agency. So, connecting the homeowners to the servicer and – with the home-owner’s consent – sharing information with them is vitally important to resolving the homeowner’s mortgage problem. In addition, the counselor briefs the homeowner on when to expect a servicer call and what to do if that call doesn’t come.
This process can take time, but we can work with you through the process and increase the chances of it being successful. Call 888-995-HOPE to get help reviewing this process.
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