This is a beginner to intermediate level course and is recommended for counselors and others with less than 12 months of foreclosure intervention counseling experience. Learn the protocols for counseling homeowners in financial crisis. Default and delinquency will be addressed, including reasons for default; ways to maximize income and reduce expenses; calculating delinquencies; understanding the players in the mortgage marketplace; loss-mitigation options for a variety of mortgage products; legal information about foreclosure laws and timelines; tips on effectively communicating with lenders and servicers; and understanding homeowner and lender rights and obligations found in loan documents. One year of general homeownership counseling experience is recommended prior to taking this course.
HO109 also satisfies Part II of the requirements for the certification in one-on-one homeownership counseling. Part I is satisfied through HO250, Homeownership Counseling Certification: Principles, Practices & Techniques.