Short Sale "homeownership Counseling Certification"
Hello,
I have a homeowner who has an FHA backed loan that is foreclosing. She and her husband want to try a short sale with my company so I got the short sale application from Countrywide and one of their forms (HUD-90038 is "homeownership counseling certification"
Do my homeowners need to do some counseling? the auction is the 11th of july. we don't have much time! yikes... if they do need counseling, how do i get this? thanks!
i figured this out. its for FHA loans.
Consumer Credit Counseling typically offers this counseling, you can search for places in your state by going to ****Must Reach Freshman Investor status before posting URL's***v and looking at forclosure and reading up on it.
it was a boring consultation where you listed all expenses and income and they talked about options to homeowners going into forclosure.
The mortgagor(s) will have to call and schedule a face to face meeting with a HUD approved, housing counseliing organization. Following the consultation, the mortgagors will receive a certificate.
Usually takes about 30 days to schedule, depending upon staff availability.
wow, i was lucky. we scheduled one for the next day! consumer credit counseling was the place... and we didn't get a "certificate" only a signature on the Homeownership Counseling form from the lender...
thanks for the reply!