Pre-purchase
These services specifically cover assistance with mortgage insurance
and assistance programs (including interest subsidy programs), the
application process for HUD and conventional mortgages, purchase
procedures (including closing costs), alternatives for financing the
purchase, real estate terms, and the rights and responsibilities of
persons who own single-family housing (including cooperatives and
condominiums).
Money Management
ACRHA offers this option to all consumers, and after reviewing the
household’s finances, the Housing Counselor then tailors a plan specific
to the needs of the household. In general, the program offers a review of
the client’s income and expenses, a determination of how the household
spends its money, the creation of a realistic and workable household
budget, a review of interest rates for households seeking to purchase
housing, the use and cost of credit, shopping for a loan (if housing is to
be purchased), the effect of property taxes and mortgage interest in
income taxes and cash flow, homeowner’s insurance, downpayments
and rent escrow, and bankruptcy.
Debt Management or Liquidation
ACRHA’s Housing Counselor will assist the consumer with planning an
appropriate budget, and in possibly negotiating payment plans with
creditors. ACRHA does not enter into contract with the consumer to
handle the consumer’s money or to make payments to creditors on
behalf of the consumer.
Credit Review and Repair
ACRHA can obtain a tri-merge credit report at a cost of $16.45 for single
reports or $32.90 for joint reports. The Housing Counselor will review
and analyze each report on an individual basis and assist the client in
initiating a credit repair program if necessary.
Housing Counseling Services
