Housing Counseling FAQ
Q

What is "Homeownership Counseling"? (The Final Rule states that all agencies participating in HUD's Housing Counseling Program that provide "Homeownership Counseling" shall address the entire process of homeownership.)

Date Published: December 2016

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A

The Final Rule defines Homeownership Counseling as Housing Counseling related to homeownership and residential mortgage loans when provided in connection with HUD's Housing Counseling Program, or required by or provided in connection with HUD Programs. Homeownership Counseling is housing counseling that covers:

  • The decision to purchase a home,
  • The selection and purchase of a home,
  • Issues arising during or affecting the period of ownership of a home (including financing, refinancing, default, and foreclosure, and other financial decisions), and
  • The sale or other disposition of a home.

In HUD's Housing Counseling Program, types of Homeownership Counseling are:

  • Pre-purchase/home buying,
  • Home maintenance and financial management for homeowners (non-delinquency post-purchase),
  • Resolving or preventing mortgage delinquency or default, and
  • Reverse mortgage counseling.

Tags: Housing Counseling Program Additional Program Requirements - Homeownership Counseling Counseling Delivery

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FAQ ID:

3075