A NON-PROFIT 501 (C) (3) ORGANIZATION
A HUD APPROVED HOUSING COUNSELING AGENCY
300 S. DUNCAN AVE. SUITE 120, CLEARWATER, FLORIDA 33755
TELEPHONE 888 279-0941 * FAX 888 278-4329
HOUSING SERVICES OF CENTRAL FLORIDA
Housing Counseling and Education Requirements for This Program
Back to Work - extenuating Circumstances
FHA is continuing its commitment to fully evaluate borrowers who have experienced periods of financial difficulty due to extenuating circumstances.
As a result of the recent recession many borrowers who experienced unemployment or other severe reduction reductions in income, were unable to make their monthly mortgage payments, and ultimately lost their homes to a pre-foreclosure sale, Deed-In-Lieu, or foreclosure. Some borrowers were forced to file for bankruptcy to discharge or restructure their debts. because of these recent recession-related periods of financial difficulty, borrowers' credit has been negatively affected. FHA recognizes the hardships faced by these borrowers, and realizes that their credit histories may not fully reflect their true ability or propensity to repay a mortgage.
To that end, FHA is allowing for consideration of borrowers who have experienced an Economic Event AND can document that:
Housing Counseling is an important resource for both first-time homebuyers and repeat home owners. Housing counseling enables borrowers to better understand their loan options and obligations, and assist borrowers in the creation of and assessment of their household budget, accessing reliable information and resources, avoiding scams, and being better prepared for future financial shocks, among other benefits to the borrower.