Financial Counseling

Providing access to certified financial counseling is what makes your organization different.

You know that “life happens” and sometimes the money runs out before the month does. You realize that those you serve have goals and dreams and managing their money properly is key to their success. Providing them with financial counseling so they can talk through big decisions shows how much you care.

Does your organization serve people who:

  • Want to purchase homes?
  • Want to improve their credit score?
  • Want to lower their debt-to-income ratios?
  • Are in your collection queue?
  • Want a second chance checking account?
  • Are saving money for a specific purpose?
  • Are overwhelmed with student loan debt?
  • Are getting married? Having children?
  • Are distracted at work because of financial stress?

Our certified counselors provide life-changing action plans for people who need help with money management, housing, debt management, credit scores, and everything in between!

We connect with people over the phone in Spanish or English at a time that is convenient for them — six days a week! We approach each session without judgment and with the client’s best interest at heart.

By partnering with BALANCE, you can provide these helpful counseling services to the people you serve without having to lift a finger:

Debt Counseling

Our counselors work with clients and their creditors towards the repayment of unsecured debts by offering lower interest rates, a cessation of certain fees, and lower required monthly payments, in a formal Debt Management Plan. Over the years, the plan has helped hundreds of thousands of people save millions of dollars, pay off debts, and increase their financial health.

Budget Counseling

Our counselors review current spending patterns and create a spending plan which allows clients to take charge of their financial situation by creating financial goals and developing an action plan for overcoming challenges that threaten their future growth

Housing: Pre-Purchase Counseling

Buying a house is the largest purchase a consumer will probably ever make, so it’s vital to have as much information as possible in preparation for taking that step. A neutral, non-biased, HUD-certified housing counseling counselor can help consumers navigate the roadmap to homeownership. A housing counselor will help clients understand how much buying power they have, create a successful and sustainable spending plan, identify any potential down payment assistance programs, explain the different types of mortgage loans, from how to pick the right realtor, the importance of a home inspection and prepare clients for closing in order to confidently make this financial commitment.

Housing: Reverse Mortgage/HECM Counseling

A reverse mortgage, also known as Home Equity Conversion Mortgage (HECM), is a unique type of loan for homeowners aged 62 and older that allows the consumer to convert a portion of the equity in your home into cash. HECM counseling by a HECM certified counselor is required prior to obtaining a HECM loan. They will explain the responsibilities of having a reverse mortgage including the maintenance of the home and payment of property taxes.

Housing: Foreclosure Prevention/Default Counseling

This counseling is for those at risk of falling behind on their mortgage payments or are already delinquent. A HUD-certified Housing counselor can work with clients and their mortgage servicer to identify which options are available. The housing counselor will help develop a comprehensive action plan specifically tailored to the client’s unique financial circumstances.

Credit Report Review

We review credit reports and answer questions about credit scoring, building a strong credit history, and correcting any inaccuracies that appear on the report. A clean credit report means consumers are candidates for better rates on mortgages, car loans, personal loans, credit cards, getting hired for a job, and securing insurance.

Student Loan Counseling

We provide comprehensive custom-tailored plans to help people burdened by federal student loans. We will typically:

  • Conduct a thorough budget analysis of income, expenses, and debt obligations
  • Provide a comprehensive review of federal student loans
  • Evaluate repayment and/or postponement options
  • Determine how to address defaulted student loans
  • Determine whether consolidation is a good option

BALANCE is an intermediary for the HUD Housing Counseling Network comprised of 12 Affiliates, 1 Local Housing Counseling Agency, and 4 BALANCE branches.