Role of the Counselor

1
Role of the Counselor

• Partnering for a Workable Solution

Homeowner
Counselor
Lender/Servicer
Government
2
The Counselors Role

• Assist homebuyers purchase homes
• Help eligible homebuyers obtain affordable
  housing
• Assist homeowners to avoid foreclosures
• Report fair housing and discrimination complaints
• Address housing problems

3
The Counselors Role

• Help the borrower sort through their financial
  situation
• Get a realistic picture
• Provide advice about budgetary decision
• Understand the servicers perspective
• Explain the foreclosure timeline and the need for
  action

4
Loss Mitigation Options

• Keeping Your Home
• Repayment Plans
• Special Forbearance Plans
• Loan Modifications
• Partial Claims
• Not Keeping Your Home
• Pre-foreclosure Sale
• Deed-In-Lieu of Foreclosure