For the first time since 2010, HUD has updated its Housing Counseling Program Handbook. As a result of this update, HUD’s housing counseling program can provide vital information to people seeking to buy, rent, or keep their homes, especially those living in low- to moderate-income communities and communities of color. It is the role of housing counselors to assist these households in becoming homeowners and finding affordable housing.
The updated Handbook offers better guidance for homeowners considering Home Equity Conversion Mortgages (HECMs) and explains how to become a HUD-approved housing counseling agency or counselor. It also outlines the grant application process for housing counseling programs seeking HUD funding.
These changes take effect on January 1, 2024. HUD-approved housing counseling agencies offer various services, including helping homebuyers, renters, and distressed homeowners, providing financial literacy training, and assisting with disaster recovery efforts and homelessness issues. They also help seniors explore reverse mortgage options.
