All Services are FREE
Hundreds of thousands of Southern California residents experience housing, credit, bankruptcy and related financial difficulties. Each year, our trained and certified housing and financial counselors assist hundreds of first-time homebuyers, homeowners at risk of losing their homes, and individuals with credit problems Our education and counseling services include preventive education and training in the following areas: Housing Counseling, Mortgage Foreclosure Prevention, Mortgage Delinquency Counseling, Reverse Counseling, First-Time Homebuyer Education, Credit Counseling, and Bankruptcy Counseling.
Did you know that even if you're far behind on your monthly payments, you may be able to keep your home? Haven Neighborhood Services will work with your lender to establish possible solutions. We may be able to negotiate a lower interest rate and/or lower monthly payments. Haven Services’ certified housing counselors assist existing and aspiring homeowners with a wide range of issues, from first-time homebuyer education and counseling to foreclosure intervention services. Our housing counseling services include: Foreclosure Prevention, Mortgage Delinquency, and Reverse Mortgages.
Foreclosure Prevention and Mortgage Delinquency Counseling
Homeowners who find themselves in unforeseen circumstances such as a job layoff, an unexpected variable interest rate or sub-prime mortgage, sudden illness, medical expenses, a divorce, or simply having little or no savings or discretionary income at the end of the month to cover unexpected expenses, may be at risk of foreclosure. Haven Neighborhood Services provides foreclosure prevention counseling and services. Our trained and certified counselors will help you develop a plan to manage your debt. Haven Neighborhood Services connects homeowners at risk of imminent foreclosure to programs such as Making Home Affordable (MHA) that provides lower monthly payments, and more stable interest rates; Home Affordable Modification Program (HAMP), that enables homeowners to reduce their monthly payments to not more than 31% of their net monthly income.
Reverse Mortgage Counseling
Prospective borrowers who are 62 years of age or older and have substantial equity in their home may consider a reverse mortgage. A reverse mortgage is a loan taken against your home that you are not required to pay back during your lifetime. Upon the earlier of (a) moving out of the home permanently, or (b) the last surviving borrower passing away, your heir will be required to pay back the loan or purchase the home. Reverse mortgages allow seniors maintain financial independence, supplement social security income, and to have the available resources to cover day-to-day living expenses and unanticipated medical bills and prescriptions on a fixed income.
A Home Equity Conversion Mortgage (HECM) is a type of reverse mortgage loan that is insured by the Federal Housing Administration (FHA), which is part of the U.S. Department of Housing and Urban Development (HUD). The costs and fees associated with an HECM loan are limited and the borrower is assured that the lender will meet its obligations. HECM loans usually have lower interest rates, provide the highest loan advances, and generally cost less than other types of reverse mortgages. Lenders require that borrowers receive counseling from a HUD-approved counseling agency prior to receiving their loan. Haven Neighborhood Services housing counselors possess the knowledge and expertise to provide reverse mortgage counseling.
First-Time Homebuyer Education Courses
For the average person, a home is among the largest investments you'll ever make, and for that reason, you should be well-advised with regard to the choices that you make around purchasing a home. Haven Neighborhood Services’ certified housing counselors will describe the steps you need to take to prepare yourself for home ownership. Our counselors review your current budget and credit report with a view toward directing you to a house that you can afford; inform you of the advantages and disadvantages various financing options and assistance programs; and navigate you away from predatory lending practices.
Credit Counseling and Financial Literacy
Haven Neighborhood Services’ credit counselors can help you eliminate credit card debt and to work out affordable repayment plans for student loans while also providing instruction in how to build credit and manage debt. Haven Services trains consumers on how to understand credit report and scores, and assists consumers in developing plans to take control of their finances and manage their credit wisely.
You may be able to keep your home, even if you're far behind on payments. Haven Neighborhood Services will work with your lender to establish possible solutions. We may be able to negotiate lower interest and lower monthly payments. Filing for bankruptcy is a decision that should be taken very seriously. In fact, the legal system takes bankruptcy so seriously that counseling is a prerequisite to filing bankruptcy. While neither Haven Neighborhood Services nor any other credit counseling service can offer legal advice, the bankruptcy process requires Pre-Filing Credit Counseling. Haven Services’ bankruptcy counselors provide expert counseling and can issue the required bankruptcy counsel certificate that you must acquire in order to move forward with your bankruptcy filing. Haven Neighborhood Services also provides the mandatory Post-Filing Debtor Education.