4 Reasons To Use A Government-Approved Housing Counselor

Here are several reasons why consulting a counselor is a smart move.

1. Housing counselors make a complicated process easier to understand.

There are a ton of steps and paperwork involved in renting or purchasing housing. With a HUD-approved counselor, you can get one-on-one personal counseling to navigate you every step of the way. This can increase your chances of getting a home to fit your needs, while also saving you money in the short and long term.

Depending on your situation, you can get a housing counselor at a low cost or even free. They can then keep you well-informed via appointments, access to resources like informational videos, classes, workshops, and referrals.

Some of the most common topics covered by housing counselors include:

• Making the most of your finances now and in the future.
• How to rent like a pro.
• The whole story behind homebuying.
• How to deal with a default.
• What to do to prevent foreclosure.
• If a reverse mortgage is ideal for you.

If you aren’t informed on any of those topics, you will be once you consult with a housing counselor so you can make informed decisions down the line.

2. Housing counselors can help with a wide variety of situations.

Regardless of your age or income status, a government-approved housing counselor in your area can help. It doesn’t matter if you want to rent or own, either.

Some situations where having a housing counselor comes in handy include when you’re:

• Looking to buy your first home.
• Already own a home, but want help with upgrading your situation.
• Close to jumping into a reverse mortgage.
• Homeless and without adequate housing.
• The victim of a natural or human-made disaster.
• At risk of foreclosure and financially distressed.

3. You can save money.

As mentioned, a government-approved housing counselor can help you keep more money in your pocket. This is achieved not only by showing you affordable housing options, but also by helping you boost your credit score, teaching you how to budget, and more.

According to the HUD Office of Housing Counseling, hiring a counselor has made a significant difference in the following ways by advising over one million households per year:

• Created 1.1 million budgets to help people manage their money.
• Prevented 200,000 foreclosures to help people stay in their homes.
• Improved the finances of over 541,000 households.

Saving money can be a particularly daunting task when buying your first home. With a counselor, you’ll know exactly how much home you can afford, what down payment you’ll need, how to budget for your mortgage payment, and more.

By having this helping hand, the HUD Office of Policy Development and Research reports that over half of those counseled were able to buy their home within a year.

4. Housing counselors are easy to find.

HUD-approved housing counseling agencies number in the thousands, and since they’re spread all across the country, the likelihood of finding a counselor in your area is high. Communication with counselors is flexible as well, as you can reach them via the Internet, phone, or in person.

To find the government-approved housing counselor in your area, go here or call 800-569-4287.