HUD Counselor FAQ
What is a licensed HUD Counselor?
If you're facing foreclosure, or need a loan modification a licensed HUD counselor is one of the best resources to assist you with communicating with your lien holder and sorting out the best options for you.
A HUD-approved housing counselor is specially trained and certified by the government to help you assess your financial situation, evaluate options if you are having trouble paying your mortgage loan, and make a plan to help you with your mortgage.
HUD stands for Department of Housing and Urban Development, a government agency that helps people get and maintain quality affordable housing.
Not all HUD Counselors are created equal! W&L Consulting (contact info below) is dedicated to helping homeowners, licensed to serve in all 50 states. They have helped many of my clients.
How can a HUD counselor help me?
HUD approved counselors provide foreclosure prevention counseling FREE of charge. They also can help you talk to your mortgage servicer, review and understand any options your servicer has offered.
A licensed HUD counselor CAN NOT receive any payment for their services! There are many firms, including lawyers, who practice predatory services, charging high fees for assistance with your loan modification application for instance. A HUD Counselor will help you with no fee.
But I'm already talking to my bank?
When a homeowner falls behind on payments, lien holder representatives do call. However, often you're speaking to the debt collection department - not the true representative for loan modification options.
In our experience, lien holders often do not document information in your file from their convesations. What you may have been told by one individual may not show in their system. It helps tremendously to have our HUD-counselor speaking on your behalf.
Because of their training, and years of experience, they know how to navigate the complicated beauracracy of mortgage companies, document negotiations on your behalf and escalate through management structures as needed to resolve complicated issues.
Recommended HUD Counselors
W&L Real Estate Consulting (licensed in all 50 states)
Lia Hendricks (Chambers)
- Society Hill Luxury Townhome
- Bryn Mawr Short Sale Success
- Merion Station Luxury Buyer
- Surge - First Time Homebuyer
- Main Line Luxury Buyer
- Troy B - Rittenhouse Square Luxury