Free Independent Debt Counseling

Each year the government spends about $65 million to provide free counseling services in every community to help people purchase a home, keep their home or manage their debt. “If you are rich or poor and have an adjustable rate mortgage, the best thing you can do is get free expert advice from a trained counselor who is paid just to help you and not to sell you anything. The sooner you do this the more options you will have." “A couple of million households are at risk of losing their house, and they can avoid the problem if they start as soon as possible to take advantage of free counseling services.” “50% of the folks who are now in a sub-prime loan can probably get out of the loan and get a good loan that is a lot cheaper.” “This is a good time to get out of your Adjustable Rate Mortgage.”

“People who put ads on TV about refinancing are going to make a lot of money in refinancing your mortgage-probably $8,000, $10,000 or $15,000. Avoid people who are putting ads on TV and radio. A prime or responsible lender will only have total fees of about $3,000.”

“GET FREE INDEPENDENT COUNSELING BEFORE YOU REFINANCE no matter how many quotes you get.”

1) To Find a U.S. Department Of Housing and Urban Development (HUD) Counseling Office Near You… Go to http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm or call 1-800-569-4287 (TTY 1-800-877-8399). Most counseling services are free, some may ask for a modest fee to help to pay for obtaining your credit information from the credit bureaus to send to lenders.

2) To Find Free Telephone and On-Line Help From Government Supported Counselors The Ownership Preservation Foundation has a single mission: to help homeowners avoid foreclosure. They are an independent non-profit that provides HUD-approved counselors dedicated to helping homeowners. The help they offer is free. Call 888-995-HOPE or go to http://www.995hope.org/

3) To Learn More About Free Help And Money Programs In Your Area Pennsylvania has a program called the Homeowners Emergency Mortgage Assistance Program that offers $6,000 to help with your mortgage. Seattle has a program managed by the local Urban League that offers $5,000 to low-income people facing foreclosure. Massachusetts has a program called the Home Saver Foreclosure Preventions that helps low-to moderate-income borrowers pay their mortgage. In Ohio, the Cuyahoga County Foreclosure Prevention Program offers up to $5,000 to help people get their mortgage back on track. And people making up to $80,750 can go to the Ohio Housing Finance Agency to learn about refinancing to a 30-year, fixed-rate and get reimbursed for out-of-pocket expenses for appraisal, credit report and other costs. The Maryland Department of Housing and Community Development offers loans up to $15,000 to pay delinquent mortgages payments, taxes and other arrearages.

Contact your state housing office, your state attorney general’s office and your elected officials to learn about all the programs in your area. Remember, no one office knows everything and it is best to contact as many sources as possible.

Your State Housing Authority Office… http://www.ncsha.org/section.cfm/4/39/187 Your State Attorney General’s Office… http://www.naag.org/ag/full_ag_table.php Your Elected Official (put in your zip code on left)… http://www.congress.org