Housing Counseling

Housing Counseling

The addition of a comprehensive housing counseling program has significantly enhanced CRC's commitment to providing affordable housing opportunities to low and moderate Income families. As a HUD approved agency, staffed with certified Housing Counseling professionals, consumers receive guidance and advice in obtaining and retaining housing. The program services are free and offer participants access to the various housing homeownership assistance programs that HUD sponsors.

Pre-purchase: Homeownership
Counseling and programs in this area prepare clients for eventual homeownership, guiding them through the process of home selection, the mechanics and procedures of buying a home, and the responsibilities of homeownership. Other topics discussed are budgeting and debt management, credit reports, financing options and down payment assistance programs. Comprehensive pre-purchase sessions are conducted in group and individual settings to provide education to assist individuals in making well planned decisions when purchasing a home.

Post-purchase: Delinquency and Default
This program is designed to work individually with clients who have experienced problems in maintaining their mortgage obligations, and includes a full financial assessment of the client's ability to cure the problems. Various mitigation tools are reviewed, and counselors work with lenders to arrange forbearance agreements, reinstatement plans, mortgage modifications, or, when necessary, pre-foreclosure sale.

Reverse Mortgage
The reverse mortgage, an FHA and Fannie Mae product, is designed to enable homeowners age 62 and older to use the accumulated equity in their home in a way that brings them greater financial flexibility and independence. The counseling component consists of an individual assessment to determine eligibility, financial benefits and the costs of obtaining a reverse mortgage. Counseling provides the senior adult homeowner with the information needed to make an informed decision.

Rental Counseling
For those individuals and families who are in need of rental housing, this program provides an individual budget assessment and review of possible barriers to obtaining rental housing. Recommendations are made for overcoming barriers and counselors provide information on or direct access to affordable rental housing in the area.