Is housing counseling required for a modification under HAMP?
Homeowners, especially delinquent homeowners, are strongly encouraged to contact a HUD-approved housing counselor to help them understand all of their options and to create a workable budget plan. These services are free. Housing counseling is required, however, for homeowners whose total monthly debts are equal to or greater than 55% of their gross monthly income.
Related Questions
- Can an applicant enter this program to receive budget counseling services only and wait to obtain housing until he/she is ready?
- Is housing counseling required for a modification under the Home Affordable Modification Program?
- Why is the HUD Housing Counseling Program valuable to lenders with customers facing foreclosure?
