Visionary Home Builders of California

First I would like to thank all of you who have taken the time to check out our blog, the support is greatly appreciated!

Recently I have gotten questions asking what it is we do and how exactly our foreclosure counseling program works. Before I directly answer those questions I would like to put the situation in the proper context by explaining who we are. Visionary Home Builders of California (VHB) is a non-profit agency that specializes in the development of affordable housing for low to moderate individuals and families. In addition VHB is also a HUD approved housing counseling agency that specializes in pre-purchase and foreclosure counseling. What distinguishes our organization from other for-profit “mortgage consultants” in that unlike those other organizations we are subject to HUD’s oversight and strict set of rules, standards, and guidelines.

When an individual or family solicits our foreclosure counseling services the process typically goes like this: the client either picks up or has mailed to them our foreclosure prevention packet, which they must complete and return before an appointment can be scheduled. In order to complete the packet it requires that the client fill out the enclosed forms and provide copies of pertinent documents, which include but are not limited to: bank statements, pay check stubs, a monthly budget, loan documents and copies of their mortgage bills. The purpose of this is to allow the counselor to evaluate the client’s situation and formulate an appropriate plan of action. Subsequent to this the client is called into our office for an appointment to analyze the situation and discuss options. The counselor will also help negotiate with the lender if appropriate. Because every individual case and its circumstances are unique there is no set protocol as to how the counseling and negotiations are conducted.

As was mentioned earlier, because every case is different and presents a unique set of circumstances there is no set or “uniform goal” for every case. Rather the goal is determined through careful thought and evaluation between the counselor and the client. For example, for some clients, an extension of the term of the loan or a reduction in the interest rate may be an appropriate request to the lender.   In some cases, it may be determined that the client cannot afford to stay in the home.  In that situation, the counselor will help the client negotiate a “Cash for Keys” settlement.  Cash for Keys is a program where the lender pays the homeowner a pre-determined amount of money in order to remove all personal belongs from the home, leave it clean and undamaged, and move out by a pre-determined date. Whatever the goal is determined to be, our counselors work diligently and use every available resource at their disposal to accomplish this goal.

With the exception of $20.00USD for a credit report, our counseling services are offered free of charge. The maximum possible cost to client would be $20.00USD.

I hope to have answered all of your questions and concerns regarding who we are, what we do, and how our foreclosure counseling program works. If not please feel free leave a question or comment below, or contact us via our Contact Us form.

Thank You!