Credit counseling is an important service that Colorado Housing Enterprises (CHE) offers. The counseling involves working one-on-one with future homeowners to help them understand their credit and learn how to obtain a mortgage. According to NeighborWorks America®, “Research and experience shows it is much less expensive to counsel and restructure loans than to foreclose. The cost to the borrower includes a lost home, equity and ruined credit. The cost to community includes up to $30,000-50,000 in law enforcement services and lost economic development. And, contrary to some common misperceptions, mortgage investors may lose as much as $50,000 on each foreclosed home.”