Alternatives to Foreclosure for Housing Counselors
Description:
This 1-day workshop provides housing counselors with an understanding about analyzing default situations to determine possible alternatives to foreclosure. It provides information about workout options (with an emphasis on short payoffs and mortgage modifications), applying Freddie Mac requirements, and exploring options that can help keep borrowers in their homes.
Prerequisites:
You must be an employee of an approved housing counselor agency to attend.
Objectives:
Participants successfully completing this workshop will be able to:
Evaluate a borrower for involuntary inability to pay or the reason for default
Pursue a workout with emphasis on mortgage modifications and short payoffs
Identify and assist the homeowner to qualify for standard programs
Topics:
The loss mitigation process
Determining if a borrower has involuntary inability to pay or a reason for default
Foreclosure alternatives and how to select the appropriate one
Alternatives to Foreclosure for Housing Counselors