A Typical Foreclosure Prevention Counseling Session
What to expect
When you call the Homeowner’s HOPE™ Hotline, 888-995-HOPE™, you can expect to speak with a respectful, non-judgmental counselor who is trained to provide information to help you with foreclosure prevention counseling. After an introduction and an explanation of your counselor's role in the process, you'll be asked about the reason you called. Although it may be difficult to share your financial situation, especially if you feeling distressed, it might help you to know that you are not alone. When you talk with your counselor, you will need to discuss your situation with complete honesty. The more focused a picture we have of your financial situation, the better equipped we are to help you deal with it.
Once your counselor accurately restates your challenge, your counselor will review your entire financial picture to help determine the steps you need to take in order to stabilize or resolve your situation. As part of the counseling process, the counselor will perform a detailed budget analysis, work with you to create a step-by-step action plan, and refer you to additional nonprofit or governmental resources if you need more assistance.
In summary, HPF’s foreclosure prevention counseling process will include these five, simple steps:
- A counselor will listen to your story.
- A counselor will review your finances.
- You and a counselor will explore options for getting help with foreclosure.
- A counselor will present you with a plan for action.
- A counselor will connect you with a servicer, if you choose.
Once the foreclosure prevention counseling session is completed, the counselor will work to conduct a three-way telephone conversation with you and your servicer, if you choose, and will stay on the line with you and your servicer. Your servicer will review the information provided by HPF during your counseling session, review your situation, and then determine available options regarding any loan modification programs or other mortgage assistance options, to help you avoid foreclosure or resolve your situation.
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