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The Memphis Housing Counseling Network

Quick Facts
What is it?
The Memphis Housing Counseling Network is a group of nonprofit organizations that prepare people for buying a home as well as give them the advice and tools they need to remain a homeowner. The Network helps homeowners who are having trouble making their monthly mortgage payments.

What do you get?
Access to counseling services that help you prepare for homeownership, teach you how to maintain your home, and help prevent you from foreclosure. Specific services include:
  • Foreclosure prevention and mortgage default counseling: assists clients in avoiding default and assists clients who are currently in default to work through the problem and find alternatives to foreclosure. Counselors may help negotiate with creditors and banks.
  • Homebuyer education classes: A group training program that informs families and individuals about the steps they need to take to prepare for the financial obligations and responsibilities of homeownership.
  • One-on-one homebuyer counseling: Personalized case management to help with housing decisions and home purchases, including mortgage financing, closings, and maintaining homeownership
  • Information on affordable mortgages and down-payment assistance: Counseling agencies have established relationships with private and public service agencies that are able to assist potential homebuyers.
  • Credit counseling: Housing counselors will help you obtain and review your credit report, dispute items, and improve your overall score
  • Financial literacy classes: Education around money management for potential and current homeowners and renters. Agencies cover a range of topics, including budget, credit, loans, taxes, insurance, and bankruptcy.
  • Predatory lending prevention: Education and counseling designed to help avoid predatory loans by providing information on legal assistance and alternative, affordable loan options.
  • Post purchase counseling: Assists homeowners in maintaining and keeping their home through relations with mortgagees, re-certifications for HUD/other subsidies, home repair, and more.
  • HECM (reverse mortgage) counseling for seniors: HECMs (Home Equity Conversion Mortgages) are HUD-insured reverse mortgages designed to allow homeowners who are 65 or older to draw an income from the equity in their home.
How long do you get it?
The Memphis Housing Counseling Network will work with you for as long as needed.