Concurrent Mortgage and Bankruptcy Counseling

What is Concurrent Mortgage and Bankruptcy Counseling?

Concurrent mortgage and bankruptcy counseling is a type of counseling that is designed to help homeowners who are facing foreclosure and who are also considering filing for bankruptcy. This type of counseling can help homeowners to understand their options and to make informed decisions about their finances.

Who Can Benefit from Concurrent Mortgage and Bankruptcy Counseling?

Concurrent mortgage and bankruptcy counseling can benefit homeowners who are:

* Facing foreclosure
* Considering filing for bankruptcy
* Having difficulty making their mortgage payments
* Behind on their mortgage payments
* In danger of losing their home

What are the Benefits of Concurrent Mortgage and Bankruptcy Counseling?

Concurrent mortgage and bankruptcy counseling can help homeowners to:

* Understand their options and make informed decisions about their finances
* Get help with budgeting and managing their debt
* Explore alternatives to foreclosure, such as loan modification or forbearance
* File for bankruptcy if necessary
* Rebuild their credit after bankruptcy

How to Get Concurrent Mortgage and Bankruptcy Counseling

To get concurrent mortgage and bankruptcy counseling, homeowners can contact a HUD-approved housing counseling agency. These agencies can provide free or low-cost counseling services to homeowners who are facing foreclosure.

What to Expect from Concurrent Mortgage and Bankruptcy Counseling

Concurrent mortgage and bankruptcy counseling typically involves meeting with a HUD-approved housing counselor for several sessions. During these sessions, the counselor will help the homeowner to:

* Understand their financial situation
* Develop a budget
* Explore options for avoiding foreclosure
* File for bankruptcy if necessary
* Rebuild their credit after bankruptcy

Concurrent mortgage and bankruptcy counseling can be a valuable resource for homeowners who are facing foreclosure and who are also considering filing for bankruptcy. This type of counseling can help homeowners to understand their options and to make informed decisions about their finances.