Idaho Housing is a HUD approved housing counseling agency. IHFA’s housing advisors conduct confidential interviews to discuss clients’ housing needs and help them find the right resources. Housing advisors assist with a variety of situations, including:
- Identifying resources and solutions for housing problems;
- Providing information about housing resources, rights, and responsibilities;
- Providing financial planning tools;
- Reviewing credit reports and helping with a debt-reduction plan;
- Developing a budget with homeownership in mind;
- Applying for housing assistance;
- Prioritizing and budgeting for housing stability;
- Helping to identify solutions for maintaining utilities;
- Making referrals to Idaho Legal Aid for landlord/tenant issues.
Housing advisors do not provide financial assistance, however they may be able to help determine the best way to address your housing concerns. If you are experiencing difficulty paying your mortgage or rent, the best thing you can do is immediately contact your lender or landlord and ask about your payment options.
Pre-purchase Advice
We meet with you one-on- one to learn your situation and continue to offer guidance whenever you need it. We’ll help you:
- Know your housing resources, rights, and responsibilities
- Be equipped with the right financial planning tools
- Understand your credit reports and identify debt-reduction strategies
- Know how to budget with homeownership in mind
- Connect with regarded legal and financial support
Those interested in one-on-one free advisement to help prepare for homeownership may contact an Idaho Housing housing advisor.
Rental Advice
Idaho Housing can help you broaden your rental options by taking steps to have a more appealing application for landlords and property managers. Our rental experts can help:
- Provide information about housing resources and renter rights and responsibilities.
- Provide financial planning tools including:
- Developing a budget and monthly spending plan;
- Reviewing credit reports and helping to develop a debt-reduction plan;
- Prioritizing spending for housing stability;
- Applying for housing assistance;
- Helping to identify solutions for maintaining utilities;
- Making referrals to legal resources for landlord/tenant issues.
A copy of the Landlord Tenant Law brochure provided by the Attorney General’s office is available if you have a question about your rights and responsibilities as a renter. Housing advisors do not provide legal advice.
Foreclosure Mitigation
If you find yourself experiencing difficulty paying your mortgage, help may be available. It’s important to contact your lender and a housing counselor as soon as you suspect you may not be able to keep up with your payments. Our expert advisors can work as an intermediary between you and your mortgage lender to prevent foreclosure on your home. Our goal is to help you determine the right option for your specific situation and keep you in your home. When faced with foreclosure, 4 out of 5 achieve positive outcomes with counseling.
We will assess every option, which may include:
- Modifying your loan
- Refinancing your loan
- Forming an affordable repayment plan
- Short sale of the property, where the lender agrees to accept less than what is owed on the mortgage
- Deed-in- lieu, which transfers the property back to the lender in lieu of repossession
Call 855.505.4700 to talk with a foreclosure prevention expert, or fill out the following form. We look forward to helping you!
Post-Purchase Advice
Whether you experience a sudden loss of income, have taken on more debt than you can handle, or just need help with the costs of homeownership, we’ll help you form a plan so you can pay your bills and still have enough for emergency savings. We also highlight available resources that you may find useful in meeting your financial needs. Those who attend counseling after buying a home have been nearly 2.83 times more likely to receive a loan modification, and on average saved $732 per year from those modifications.
Reverse Mortgage
The equity available could pay off any liens, help pay for repairs on the home, and increase monthly income.
While attractive (more than 52,000 Americans obtained reverse mortgages in 2015), reverse mortgages are complicated transactions. This is why the Federal Housing Administration mandates counseling with a HUD-approved nonprofit housing counseling agency, like Idaho Housing, to qualify for a reverse mortgage.
Beware of Foreclosure Rescue Scams – Help is Free!
Beware of any person or organization that:
- Offers a guarantee that they can save your home
- Asks you to pay a fee in exchange for housing counseling services or modification of a delinquent loan
- Says they can save your home if you sign or transfer the deed to your house
- Tells you not to contact your loan servicer
- Tells you to make your payments to anyone other than your loan servicer