HUD Counseling for the Back to Work - Extenuating Circumstances Program

By
Mortgage and Lending with Caliber Home Loans NMLS# 242952

HUD LogoALAMEDA CA - Back to Work - Extenuating Circumstances Program, the new FHA program that allows for shortened waiting periods is a great opportunity for people looking to get back into the housing market after short sale, bankruptcy or foreclosure.  The first thing a home buyer needs to do to get qualified for this program is take a counseling class.

The counseling must address the cause of the economic event and the actions taken to overcome the economic event and reduce the likelihood of reoccurrence. The housing education may be provided by HUD-approved housing counseling agencies, state housing finance agencies, approved intermediaries or their sub-grantees, or through an on-line course, and be completed a minimum of thirty (30) days but no more than six (6) months prior to submitting a loan application to a lender, as application is defined in Regulation X, implementing the Real Estate Settlement Procedures Act, 24 C.F.R. §3500.2(b).

 

The lender must verify and document that the borrower has completed the required pre-purchase housing counseling by obtaining a letter from the borrower issued by the Participating Housing Counseling Agency on agency letterhead and that includes the agency’s Tax Identification Number (TIN). The letter must state: the borrower’s name, the counselor’s name, that counseling was delivered in accordance with ML 2013-26 requirements, the date upon which counseling was completed, borrower’s signature and the signature of an authorized official of the counseling agency providing the counseling, and the borrower received the proper disclosures (C. Required Disclosures) from the housing counseling agency.

 

List of Local Counseling Agencies:

 

NID-HCA SAN LEANDRO- CHAMBERS    

250 Macarthur Blvd.

San Leandro, CA 94577

Phone: 510-430-9020

Email: N/A          

Website: site.notavailable.org

                                                                            

NDI-HCA RIVERA                             

Phone: 510-268-9792     

The Towers- 2200 Powell Street # 530

Emeryville, CA 94608

Email: N/A                                                          

Website: site.notavailable.org                  

 

NACA (NEIGHBORHOOD ASSISTANCE CORPORATION OF AMERICA) OAKLAND, CA

3801-3805 Broadway

Oakland, CA 94611

Phone: 510-652-6622

Toll-free: 888-297-5568

Email: wgant@naca.com

Website: www.naca.com

 

MONEY MANAGEMENT INTERNATIONAL CONCORD

1070 Concord Ave #105

Concord, CA 94520

Toll-free Phone: 866-232-9080

Email: counselinginfo@moneymanagement.org                                              

Website: www.moneymanagement.org

 

MISSION ECONOMIC DEVELOPMENT ASSOCIATION

2301 Mission Street #301

San Francisco, CA 94110

Phone: 415-282-3334, xtn. 112

Email: mmartin@medasf.org

Website: www.medasf.org

               

For more information or to apply contact Garrick Werdmuller at 510-282-5456 or Garrick.werdmuller@fpfmail.com.

Related Article:

FHA Back to Work Economic Event Brings New Opportunity to Boomerang Buyers

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
Mortgage / Finance
Location:
California
Groups:
Alameda California
Oakland California
Berkeley California
San Francisco Bay Area Real Estate
Tags:
bankruptcy
foreclosure
guidelines
short sale
boomerang buyer

Spam prevention

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?