Budget Help for Homeowners
When you think about the term ‘budget’ what comes to mind? According to a poll from the National Foundation for Credit Counseling (NFCC), 57 percent of people surveyed considered a budget a “restriction on their spending.”
As the NFCC points out, however, a budget is not meant to be restrictive so much as it is meant to help consumers manage their expenses and make smarter monetary decisions that will enable them to achieve financial stability. While a budget may be perceived as limiting, there are many beneficial aspects to constructing a personalized spending plan, particularly for distressed borrowers seeking to regain their footing.
Part of HPF’s mission is to provide struggling homeowners with the pecuniary wisdom necessary to create a sustainable financial future. When homeowners call our national HOPE Hotline at 888-995-HOPE (4673), our HUD-approved housing counselors can do more than provide a comprehensive analysis of their mortgage predicament – they can also help them examine their myriad monthly expenses, understand the areas they may be able to save, and determine a realistic action plan for for paying down their debt.
Indeed, rather than being constrictive, this type of “financial coaching” enables many distressed homeowners to regain control and experience a sense of liberation from the stress caused by juggling an onerous amount of debt. Many may feel a “weight off their shoulders” sensation after taking that sometimes difficult, but often advantageous, first step in reaching out for help.
If you are having trouble navigating your financial obligations, please call our HOPE Hotline at 888-995-HOPE (4673). Our professionally trained counselors are available around the clock, every day, to provide borrowers with unbiased financial guidance and advice.
See also our Homeowner’s HOPE Hotline Guide to Saving Money for helpful budgetary tips, including how to manage your credit cards and economize on your everyday expenses.