Housing Counseling

If you dream of owning your own home someday, it’s never too early to start planning. When you will be able to purchase the home, where it will be located, and what it will look like will depend largely on your qualifications for a mortgage. The down payment you accumulate and your debt to income ratio will affect the amount of money you can borrow.

By reviewing your cash flow, savings plan and credit history and score, you will be prepared to make any necessary adjustments to qualify for the mortgage you need. An understanding of the mortgage loan process will also enable you to have all of your necessary information ready when the time comes.

Foreclosure Prevention

If you have missed mortgage payments or think you will miss future payments, you may find yourself in danger of foreclosure. It is important to understand, however, that lenders do not want to "repossess" your home -- they are much more interested in seeing that payments are made each month as agreed in the mortgage terms. As a general rule, lenders only begin the foreclosure process when all else fails.

Therefore, the best way to avoid foreclosure is to address the issue as soon as it occurs and to keep the lender informed at all times. BALANCE can help you understand your options when you are having financial difficulty.

Call BALANCE at 888.456.2227 to speak with a counselor. Or review their publication Early Delinquency Intervention: Saving Your Home from Foreclosure.

BalanceTrack Course

Buying a home is at once an exciting and challenging venture. With commitment, planning, and learning, you can become a successful homeowner. This program covers everything you need to know to start the homebuying process off right, click here to get started.