Have you talked with a HUD-approved Housing Counselor?

Education is available prior to, and after, buying your home

Do you want reliable advice on buying a home, renting, default, foreclosure, credit issues or reverse mortgages? Is now a good time for you to become a first-time home buyer? With all the headlines and news coverage on foreclosures, housing prices, subprime mortgages, you may have similar questions. Where can you find reliable information and confidential assistance when researching questions, so you can make informed housing decisions?

HUD's Federal Housing Administration (FHA)-approved housing counseling agencies are available in ERIEto discuss your personal housing and financial situation. Counselors will answer your questions about purchasing a home, missing payments, refinancing options, foreclosure prevention, and reverse mortgages.

John Carson, HUD Regional Director said, "Uncertainties in the housing market require "back-to-basics" solutions that add clarity to the home buying process and break the cycle of foreclosure. Americans can seek a better understanding about what goes into homeownership, how to own a home they can afford and maintain, and learn steps the federal government is taking to help struggling homeowners keep their homes."

HUD-approved housing counselors:

- help prepare families to become homeowners through FHA's homebuyer education and outreach efforts.

- help qualified homeowners refinance into affordable, FHA mortgage products. In fact, more than 200,500 families have already refinanced their mortgage through HUD's new FHASecure program. Families with non-FHA insured loans can obtain help in refinancing from high interest rates, or exotic mortgages, into safe and secure FHA loans.

- counsel people about financing options, and discuss the pros and cons of a reverse mortgage. A reverse mortgage (Home Equity Conversion Mortgage or HECM) can be a good option for homeowners 62 years or older.

- strive to keep home buyers in their homes using FHA's Loss Mitigation Program.

During its annual recognition of Homeownership Month, HUD's "Back to Basics" theme for 2008 helps to underscore the importance of strong, common-sense fundamentals to maintain a sustainable housing market.

Carson added, "At FHA, we are not just concerned with getting families into a home but we also want them to be able to keep their home. We are committed to providing a means to a stronger and more secure future. Uncertain economic conditions and instability do not have to result in foreclosure. Through FHA loan programs, HUD is also helping struggling homeowners to find alternatives to foreclosure."

Through good and bad economic times, FHA provides homeowners peace of mind. To gain more housing information, please contact HUD-approved housing counselors at the Adams County Housing Authority. Their phone number is 303-227-2072.

If you do not reside in ERIE, you can obtain assistance by calling HUD's housing counseling national search phone line at 1-800-569-4287, and then, enter your zip code to locate your nearest housing counseling agency