New Online Tool to Help Find Housing Counseling Services
Last month, the Consumer Financial Protection Bureau announced a new tool to assist homeowners in anticipation of the new mortgage rules taking effect in January 2014. The purpose of the tool, which can be accessed here, is to connect homeowners with local housing counseling agencies. Effective January 10, 2014, mortgage lenders will be required to give mortgage applicants a list of housing counseling agencies. In case they do not have their own lists available by that time, they can use the tool provided by CFPB.
The new online tool will help homeowners and home buyers find the closest HUD-approved counseling agencies. It will also list the languages spoken at each agency, as well as list the specific services available there.