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"The median monthly payment reduction for borrowers enrolled in
the (HAMP) program is $522" - DSnews.com

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HUD Certified Housing Counseling Agencies Running Out of Funding


An estimated 445 HUD certified housing counseling agencies are in need of more money to be able to operate. The reason for this is because a total of 88 million dollars in HUD funding has been cut from the federal budget. The agencies are begging Congress to find a way to assist them with more money for 2012. If they do not receive more money the agencies could shut down.

There is a total of 2700 HUD certified housing counseling agencies nationwide. The housing counseling agencies assists struggling homeowners with avoiding foreclosure. It was reported that when a homeowners uses a housing counseling agency their chances of receiving a loan modification increase by 200%.