Housing counseling helps foreclousure outcomes

A Department of Housing and Urban Development study shows that early foreclosure counseling helps victims improve their chances of staying in a home.

Eighteen months after receiving counseling, 70 percent of home owners who got counseling before becoming delinquent on a loan were still in their homes, whereas only 30 percent who got counseling six months after becoming delinquent were still in theirs.

Results of the latest study can be read at http://www.huduser.org/portal/publications/hsgfin/foreclosure_counseling.html