The challenge most reported by counselors in NFMC's report was efficient and timely communication with servicers (38 percent), which is down slightly from 40 percent in the NFMC's report from October 2013.
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Counseling may reduce the risk of a first-time homebuyer becoming seriously delinquent by an average of 29 percent on affordable mortgages that required pre-purchase housing counseling, according to research from Freddie Mac. The study also found that one-on-one counseling, classroom counseling, and home study via the Internet, which are the three most common types of housing counseling, are equally effective.
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The U.S. Department of Housing and Urban Development (HUD) has announced the launch of a new website, hudhousingcounselors.com, that is designed specifically for HUD-approved housing counseling agencies, according to an announcement on HUD's website.
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