Homebuyer Counseling

Sometimes getting to that perfect comfort level with homeownership takes a one-on-one session—that’s where South Dakota Housing’s network of housing counselors come in. If any of the below scenarios fit your description, you might be a good candidate for homebuyer counseling.

What is Homebuyer Counseling?

Whether you’re struggling with making your mortgage payment or you’re experiencing homelessness, there are a variety of situations a certified credit counselor can help you navigate. Through Department of Housing and Urban Development (HUD)-approved agencies, our network of counselors can help you refinance, repair credit and tackle defaults or foreclosures through private, one-on-one sessions.

This isn’t limited to just homeowners, either—renters can benefit from this form of financial counseling, too.

Counseling Services

Want advice on renting, preventing default, post-purchase homeownership information, foreclosure avoidance, credit issues or homeless assistance? Through the HERO network of HUD-approved counseling agencies, individuals can get advice to get through life's unexpected financial hurdles.

HERO Network Of HUD-Approved Counseling Agencies

Mortgage Default Counseling

Are you facing foreclosure?

Maybe you lost your job, have been seriously ill or injured, or your interest rates went up on an adjustable-rate mortgage. Whatever happened, do everything you can to make your mortgage payments. Your house is the most important investment you will ever have.

What should you do?

Open your mail...

Don't ignore any letters you receive from your lender. Those late-payment notices often have tips on how to bring your account up to date, plus telephone numbers and names of people you can talk to.

Call your lender and explain what's happening...

Your lender will work with you if you contact them early enough. Call before you miss your first or second payment. The longer you wait to let them know you are having difficulties, the fewer options you'll have.

Need more help?

You don't have to do this alone. Contact a HUD-approved counseling agency listed above.

There are options to prevent a foreclosure. They can go over your options, offer you advice, and help you negotiate with your lender. Time is a factor in success. It is important to act quickly.

Additional information about foreclosure prevention can be obtained by clicking: http://www.hopenow.com

Rental Housing

Your income, savings, and monthly expenses play an important role in determining if you can afford a mortgage. There may be reasons why renting versus buying a home is better for you. Homeownership is not for everyone.

A HUD-approved certified counselor can help compare the two options. If renting is the right choice for you, counselors can also assist in locating, securing and maintaining rental housing as well as assisting in tenant-landlord issues and more.

Post-Purchase

There are many responsibilities that come with owning your own home. To ensure successful homeownership and home retention, post-purchase homeownership counseling will provide information on home maintenance and financial management including:

• escrow funds

• budgeting for housing-related expenses

• refinancing

• home equity

• home improvement

• utility costs

• energy efficiency

• rights and responsibilities of homeowners

Faced With Homelessness?

Homelessness has no set profile; individuals, families, and children are homeless. The homeless include those who hold jobs and those who are unemployed. The homeless can include those with drug and alcohol dependencies, the disabled, and the mentally ill. Homeless people also include seniors, veterans, the disabled, victims of domestic violence, runaway youth, those suffering from substance abuse issues, and people with HIV/AIDS.

If you need information on emergency shelters or transitional housing a HUD-certified counselor can assist you. Their expertise in homelessness will also help you with other services that may be available.