Mortgage Default & Foreclosure Avoidance

Pre-Purchase Homeownership Counseling

Greenfield Institute provides comprehensive homeownership assessments to help future homeowners determine if they are ready to own a home and get on their path to homeownership.

There is more to purchasing your first home than simply saving for a down payment. Becoming a homeowner is an enormous undertaking and the financial ramifications extend beyond your new monthly mortgage payment. 

Our certified housing professionals will help you determine if home ownership meets your lifestyle, help you determine mortgage affordability, review your credit report, and develop an action plan to overcome obstacles and achieve your homeownership goals. As part of your counseling session, your counselor will explain the full costs of homeownership and help you create a budget that balances your new obligations. Your counselor will also highlight available resources that may be useful in meeting your financial needs.

Additionally, based on recent amendments to the Home Ownership and Equity Protection Act (HOEPA), borrowers of certain types of mortgages are now required to complete pre-purchase housing counseling with a HUD-approved agency before closing the loan. As a nonprofit HUD-approved housing counseling agency, Greenfield Institute can provide borrowers with the needed certification in order to obtain a mortgage.

Down Payment Assistance

Here are some programs available for low to moderate income individuals looking to purchase a home.

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Post-Purchase Homeownership Counselor

Post-Purchase education and counseling is a vital part of the new home buyer education process because it supports successful long-term self-sufficiency.

Counseling is essential to homeowners who may be adjusting to the new lifestyle and our post-purchase counseling focuses on the physical aspects of keeping on top of maintenance, energy-effective measures, financing home improvements, refinancing options, money management and foreclosure prevention. Our certified housing counselors will work with you to develop a household budget which includes saving for critical housing-related expenses such as maintenance and home improvements with the goal to set up a stable financial position in order to stay future late payments and/or foreclosure.

The session will also include what to do if you think you will be late with a mortgage payment, understanding various loan features such as interest only loans, adjustable rate mortgage and balloon payments as well as any state related rights you have as a homeowner.

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Mortgage Default & Foreclosure Avoidance Counseling

Greenfield Institute offers confidential counseling to help consumers who have fallen behind on their mortgage payments to avoid foreclosure.

If you are delinquent on your mortgage payments or if you anticipate that you might have problems making your payments in the near future, please contact us as soon as possible to meet with one of our HUD certified housing counselors to learn about the options available that may help you preserve your home. When you come to us for help, you will receive honest guidance from a certified housing counselor who will help you prepare an assessment of your financial situation, and prepare a plan of action.

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