what is the difference between housing counselor and lawyer

Is a housing counselor higher than a criminal justice lawyer?

Oct 02, 2020 · Attorneys reach similar levels of education when compared to Housing Counselors. The difference is that they're 3.4% more likely to earn a Master's Degree less, and 20.7% more likely to graduate with a Doctoral Degree.

What does it mean to be a HUD approved counselor?

Sep 09, 2020 · The housing counselor may also ask for information about your pay stubs, tax returns, recent bank statements, and other bills you pay each month, such as car loans and credit cards. The counselor is asking for this information to understand your financial situation and how much you can afford for a monthly mortgage payment.

What information does a housing counselor need to know?

Oct 02, 2020 · In this section, we compare the average Criminal Justice Lawyer annual salary with that of a Housing Counselor. Typically, Housing Counselors earn a $36,875 higher salary than Criminal Justice Lawyers earn annually. While their salaries may differ, one common ground between Criminal Justice Lawyers and Housing Counselors are a few of the skills ...

What happens when you call a housing counselor about your mortgage?

Housing counselors are a particular type of financial counselors. Housing counselors specialize in helping people find and keep affordable housing. They can help their clients avoid foreclosure or fill out applications for local affordable housing. HUD, the Department of Housing and Urban Development, certifies housing counselors who meet its standards. You can find a HUD …

What is a staff attorney?

Staff Attorneys are legal employees who work for a variety of organizations, often as full-time employees. They use their legal expertise to help deal with day-to-day legal issues with which their organization needs regular assistance.

What percentage of criminal justice lawyers are proficient in online?

We calculated that 21 % of Criminal Justice Lawyers are proficient in Online, Semester, and Public Safety. They’re also known for soft skills such as Analytical skills, Problem-solving skills, and Research skills.

What is a lawyer?

Lawyer is a general term for a person who gives legal advice and aid and who conducts suits in court.

What is a solicitor?

What’s a counsel? A solicitor would be the UK equivalent of the US attorney-at-law. Counsel usually refers to a body of legal advisers but also pertains to a single legal adviser and is a synonym for advocate, barrister, counselor, and counselor-at-law.

Who is responsible for foreclosure?

But if the borrower defaults on the loan, the trustee is responsible for administering a nonjudicial foreclosure. In most cases, though, the original trustee won't handle the foreclosure. Instead, the servicer, lender, or investor will substitute a new trustee, and that trustee will manage the foreclosure.

What are the duties of a mortgage servicer?

A servicer's duties ordinarily include receiving payments, providing customer service, managing escrow accounts, and pursuing collections, as well as processing modifications and other workouts to avoid foreclosure. (Learn more about how mortgage servicing works .)

What happens if a borrower defaults on a mortgage?

Most of the time, the trustee has no involvement with the loan. But if the borrower defaults on the loan, the trustee is responsible for administering a nonjudicial foreclosure. In most cases, though, the original trustee won't handle the foreclosure. Instead, the servicer, lender, or investor will substitute a new trustee, and that trustee will manage the foreclosure.

What is a foreclosure trustee?

Foreclosure trustees, in theory, are supposed to handle foreclosures in an independent and unbiased manner; however, because the servicer or lender (or investor) hires the trustee, it tends them during the foreclosure process. (In a judicial foreclosure, on the other hand, the court, rather than a trustee, provides more truly independent, ...

What to do if you are facing foreclosure?

If you're facing a foreclosure and need help dealing with the servicer or trustee —or if you need information about the foreclosure process or potential defenses to a foreclosure action—consider talking to a foreclosure attorney. If you want to learn about options to avoid a foreclosure, contact a HUD-approved housing counselor.

Do not sell personal information?

Do Not Sell My Personal Information. In the most straightforward scenario, a home loan transaction involves two parties—a company , usually a bank, that loans the money and a borrower who takes out the loan. But after a loan is made, other companies often become actively involved with the loan. A company separate from the lender, called ...

What happens if you default on your mortgage?

you default on your mortgage (by not making the payments or breaching the agreement in some other way) and. your house isn't worth enough to fully pay the lender back through a foreclosure sale. If the foreclosure sale brings in less than you owe on the mortgage debt, the FHA compensates the lender for the loss.

What is the down payment on a FHA loan?

If a borrower’s credit score is at least 580, the down payment on an FHA-insured loan is 3.5% of the home’s purchase price. The down payment is 10% if the borrower’s credit score is between 500 and 579.

How much is mortgage insurance premium?

To cover the costs of insuring loans, the FHA charges borrowers both an upfront mortgage insurance premium (MIP)—1.75% of the loan amount—and monthly MIP amounts. The monthly charge varies based on the loan term, loan amount, and down payment. As of 2020, most borrowers pay an annual MIP equal to 0.85% of the loan amount.

What is the highest credit score in the US?

The largest credit scoring company in the U.S. is FICO. A FICO score ranges from 300 to 850. Higher is better on the FICO scale. In 2020, FICO reported that the average score in the U.S. was just over 700. Most banks and mortgage companies base their lending decisions on FICO scores along with other factors, like income, debt-to-income ratio, and employment history.

Do VA loans have insurance?

Another advantage to a VA-guaranteed loan is that a borrower doesn’t have to pay for mortgage insurance. Borrowers do, however, typically have to pay a funding fee—a one-time charge between 1.25% and 3.6% of the loan amount. The fee amount depends on factors like the borrower’s down payment and whether the borrower previously took out ...

Do you have to pay PMI if you put 20% down?

But borrowers who put less than 20% down have to pay for private mortgage insurance (PMI). If a borrower defaults on the loan and loses the home to foreclosure, the PMI covers any losses the lender suffers. PMI on a conventional mortgage ordinarily costs less than MIP on an FHA-insured loan.

What is a reservist loan?

reservist. National Guard member, or. eligible surviving spouse. The VA guarantees this type of loan, which means it reimburses the lender for any losses if the borrower doesn’t repay the debt. (Read about mortgage and foreclosure protections for military servicemembers under the Servicemembers Civil Relief Act .)

How does a foreclosure work?

How the foreclosure process works. Nonjudicial foreclosure procedures differ widely from state to state. In some states, the trustee provides the homeowner with a notice of default that lets the homeowner know that the trustee intends to foreclose on the home. The homeowner is then given a period of time to get current on the loan or negotiate a way to prevent a foreclosure. The trustee might also have to send a notice with details about the sale. Depending on state law, though, the lender might: 1 send only a notice of sale 2 send a combined notice of default and sale, or 3 state law might only require the lender to publish notice in a newspaper and post a notice somewhere on the property or somewhere public.

What to do if you are facing foreclosure?

Foreclosure laws and procedures vary from state to state and, again, sometimes depend on the individual circumstances of the case. While the above descriptions provide general information about the two primary foreclosure processes, if you’re facing a foreclosure, you should become familiar with the specific laws and procedures in your state. Consulting with an attorney or a HUD-approved housing counselor is strongly recommended.

Is foreclosure judicial or nonjudicial?

The foreclosure process in any given state is generally classified as being either judicial or nonjudicial. The key difference between the two procedures is court involvement. (To learn which foreclosure procedure lenders in your state usually use, see Key Aspects of State Foreclosure Law: 50-State Chart.)