Regardless of the sustained recovery of the real estate market, people continue to struggle. Foreclosures are still happening across the country, and this continues to be a drag on home values. There are lots of ways to end up in foreclosure, but it doesn’t have to happen to you. Not if you understand your real estate options in Philadelphia.
The problem most people who end up in foreclosure have is they do not know these options. When you want to buy or sell a home, you go to a realtor. Who do you go to too save your home? Most people do not realize the answer is a home counselor.
While it may not seem like it, banks do not want people to go into foreclosure and neither does the government. This is why the U.S. Department of Housing and Urban Development (HUD) sponsors approved home counselors to assist people in need of their rights and options when it comes to foreclosure.
If you are in danger of losing your home, a check with the HUD website can find you a certified home counselor who will assist you in knowing what steps to follow to keep your home out of receivership. They will help you go through your bills, debts, and obligations and help work out a budget and payment plans which will satisfy all parties.
They also can help you defend yourself from pushy creditors who take advantage of the lack of knowledge of all the legal options home owners have. Thus a HUD certified housing counselor can not only help keep you in your home but reduce the daily hassles of aggressive bill collectors.
For more information to help you understand your real estate options in Philadelphia, be sure to contact us today!