Whether you are thinking of buying your own home or are already a homeowner, housing counseling can offer valuable help when you need it most. It is a common misconception to believe that housing counseling is only for people whose mortgages are underwater or those who have bad credit.
For those who are interested in becoming a homeowner, housing counselors can offer some compelling arguments to support the decision. While home ownership is not right for everyone, many people can benefit from the sense of privacy and the cost stability that it affords.
A home is an investment and the regularity of the monthly payments is kind of like a scheduled savings program. You are paying for a home that you own instead of paying rent to someone else who owns that home. Also, significant tax benefits exist as mortgage interest payments are tax deductible. Home ownership instills a sense of pride and commitment that helps the community at large.
However, with that being said, home ownership is not an easy path to take, because owning a home offers significant financial and sometimes emotional challenges. There are significant upfront costs and fees when it comes to closing on a home.
It is not so easy to pick up and move if your job or family situation requires it. Let’s not forget about upkeep and maintenance as well; many new homeowners invest a lot of time on home projects in order to save or even make money. Also, every homeowner needs to consider the risk of foreclosure if they are unable to keep up with their payments. These are all subjects that a housing counselor can help you with.
These counseling services also cover the intricacies of mortgage lending. These can be confusing to anyone but there are some things you can do to protect yourself from mortgage fraud. Chances are you know someone who has had a real estate disaster in the last five years. Many of the housing problems faced by so many Americans recently could have been avoided had they sought out the advice of a good housing counselor.
Did you know that there are many programs available today that can help existing homeowners avoid foreclosure? Whether from the government, private businesses or community groups, there is help out there if you know where to look and a good housing counseling agency certainly knows where to look. They can also offer special services for the elderly, disabled, tenants and a host of other things so if you are not sure, why not just ask?
Many housing counselors offer free advice so there is really no good reason to avoid setting up an appointment to talk to someone today. Don’t miss out on the opportunity to get a helping hand!
Knowledge is power and the more you know, the more you can be protected.
Lauralynn Schueckler is the Online Marketing Specialist at Advantage Credit Counseling Service. She is the author for Advantage CCS’s Blog called Dollars & Sense. Advantage Credit Counseling Service is a member of the National Foundation for Credit Counseling. Contact Advantage Credit Counseling at 866.699.2227, or visit them online at www.advantageccs.org.
Views expressed are the personal views of the author, and do not represent the views of the National Foundation for Credit Counseling, its employees, its members, or its clients.