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Foreclosure Prevention Counseling
Foreclosure prevention counseling is for those people who are having difficulty paying their mortgage payments. If you are in this situation, it's important to contact a housing counselor as soon as you suspect you may not be able to keep up with your payments, since it's best to begin addressing this concern as soon as possible. Your mortgage does not need to be financed through Idaho Housing and Finance Association to take advantage of foreclosure prevention counseling.
Housing counselors do not provide financial assistance, but can help you determine the best way to address concerns about your housing situation.
To prepare for foreclosure counseling:
Print out and complete these forms:
Foreclosure Mitigation Counseling Agreement
Signature Authorization
Additional documents that may be required:
Request for Financial Information
- Two Months Most Recent Pay Stubs
- Two Months Most Recent Bank Statements
Personal Budget Form
Copies of recent letters, billings or notices from Mortgage Company (if applicable)
Read:
Idaho Housing and Finance Association Privacy Policy
HUD website: Guide to Avoiding Foreclosure
Mail/Email:
Idaho Housing and Finance Association
Attn: IHFA Counseling
PO Box 7899
Boise, ID 83707
mortgageserv@ihfa.org
Click Here to Contact an IHFA Housing Counselor
Rental Counseling
Housing counselors working with renters can:
- Provide information and education about housing resources and renter rights and responsibilities.
- Provide financial planning tools to resolve housing problems, including:
- Developing a budget and monthly spending plan;
- Reviewing credit reports and helping develop a debt reduction plan;
- Prioritizing spending for housing stability;
- Applying for housing assistance;
- Helping identify solutions for maintaining necessary utilities; and
- Making referrals to Idaho Legal Aid for landlord/tenant issues. To contact Idaho Legal Aid, click here.
To locate rental housing across Idaho, go to www.housingidaho.com.
To prepare for rental counseling, just complete these 2 steps:
Print out and complete these forms:
Request for Services
Basic Quickie Budget
Read and sign:
Housing Counseling Program Disclosure Form
Click Here to Contact an IHFA Housing Counselor
If you have a question about your rights and responsibilities as a renter, a housing counselor can provide you with a current copy of the Landlord Tenant Law brochure. Housing Counselors do not provide legal advice.
Pre-purchase Counseling
You may be thinking about buying a home, but aren't sure where to begin. IPHBE, Inc. offers Finally Home!® Homebuyer Education classes every month statewide. Class content covers all the steps that accompany the purchase of a home, including credit and budgeting issues, qualifying for a mortgage, choosing a real estate professional, and making an offer and closing on a home.
Statewide courses are offered through Finally Home!® regional training partners. For the latest class schedule, including information on a training partner in your area, visit www.finallyhomeidaho.com. An online course is also available in both English and Spanish at this Web site. A series of DVDs featuring the instructor-taught Spanish course is also available through regional training partners.
Branch office counselors help families to:
- Identify barriers to homeownership and develop an action plan to accomplish homeownership as a goal;
- Develop a budget and monthly spending plan;
- Review credit reports and help develop a debt reduction plan if needed; and
- Help find sources of loans and down payment assistance.
There is a cost of $10 per person for the classroom course or to view the DVDs; and a $50 charge per person for the online course.
To prepare for pre-purchase counseling, just complete these 2 steps:
Print out and complete these forms:
Request for Services
Basic Quickie Budget
Net Worth Statement
Read and sign:
Housing Counseling Program Disclosure Form
Click Here to Contact an IHFA Housing Counselor
Reverse Mortgage or Home Equity Conversion Mortgage (HECM)
Homeowners 62 and older who meet certain criteria may obtain a Reverse Mortgage or Home Equity Conversion Mortgage (HECM) on their property. The program allows homeowners to borrow against the equity in their home and does not require repayment as long as the home is the borrower's principal residence. There are no income or credit qualifications for a Reverse Mortgage. The equity available could pay off any liens, help pay for repairs on the home and increase monthly income.
Housing counselors do not provide financial assistance, but can help you determine the best way to address concerns about your housing situation.
Click Here to Contact an IHFA Housing Counselor
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