Select the right credit counseling agency for your Housing Counseling needs 

Housing Counseling with CCCS of Buffalo, Inc.

We offer both Foreclosure/Loss Mitigation Counseling and HUD Certified Reverse Mortgage/ HECM (Home Equity Conversion Mortgage) Counseling. Both of these services cost you NOTHING. Please call us today to schedule an appointment with one of our certified counselors.

CCCS of Buffalo, Inc. is a NFCC member agency.

What is Foreclosure/Loss Mitigation Counseling and how can it help?

A housing counselor will meet with you to help establish a budget and will determine appropriate strategies to minimize foreclosure and help you keep your property. They will discuss available options and will instruct a plan for you to get back on track.

With Foreclosure/Loss Mitigation Counseling,
a Certified Housing Counselor will assist you in:

• Reviewing your monthly budget, income and debt.
• Discussing available options available to you for curing your delinquent rental payments or home loans.
• Establishing a workable repayment plan that will enable you to bring your rent or mortgage current.

Your rent or mortgage is usually your single largest financial obligation. A HUD-certified housing counselor will be able to recommend a list of possible alternatives to foreclosure that you may not be aware of. Counseling will also offer you assistance in dealing with your lender, provide you information on avoiding scams that may cause you to lose your home and explain how to avoid predatory lending.

What is Reverse Mortgage and how can it help?

A Reverse Mortgage enables homeowners ages 62 and older to convert part of their equity in their homes into tax-free income without having to sell the home, give up the title, or take on a new monthly mortgage payment. The Reverse Mortgage received its name because the payment stream is “reversed.” Instead of making monthly payments to a lender, as with a regular mortgage, a lender makes payments to you.

With Reverse Mortgage Counseling, a HUD-Certified Housing Counselor will assist you in:

Reviewing your monthly budget, income and debt

Making referrals, such as applying for STAR exmption, HEAP, and other balanced billing for utilities

Understanding the advantages and disadvantages of a Reverse Mortgage

Seeing if your goals are achievable with this type of mortgage

You can chose to receive the money from a Reverse Mortgage all in one lump sum, fixed monthly payments either for a set term or for as long as you live in the home, as a line of credit, or a combination of these. Amongst these choices, individuals seeking a Reverse Mortgage should seek independent tax and accounting advice.

Counseling is REQUIRED. It is one of the most important aspects of this process because it requires an independent third-party to make sure you understand the program and review alternative options with a HUD-Certified Housing Counselor before applying for a Reverse Mortgage.