The deepening problems in the housing and mortgage industries have not only resulted to millions of homes in foreclosure. The unfortunate situation has also given birth to thousands of foreclosure counselors, who are working with local governments and non-profit organizations, in order to provide assistance to troubled homeowners facing foreclosure.

This week, hundreds of foreclosure counselors are attending a convention in Denver to brush up on their skills and receive certification so that they could meet the increasing demand.

In Colorado, the number of foreclosure filings has risen dramatically over the past year, putting the state at the number ten spot among states with highest foreclosures rate. The said list included the states of Nevada, California and Florida.

The said convention has attracted foreclosure counselors from over 34 states. It will basically be a training convention, under the National Foreclosure Mitigation Counseling program. This particular program has a fund amounting to $180 million and aims to help at least 400,000 families.

Administered by the non-profit organization, NeighborWorks America, the foreclosure counseling program also aims to provide Americans with easy access to homeownership as well as affordable and safe rental housing.

Foreclosure counseling programs and workshops have become popular among troubled homeowners especially those who are having trouble understanding the foreclosure process. As you know, the foreclosure process varies from state to state. These workshops are also effective in identifying victims of mortgage fraud that includes falsification of information in loan applications.

Aside from these, foreclosure counselors also work as mediators between lenders and borrowers in order to work out a solution that will be beneficial to both parties. According to recent data, the most popular option that lenders and borrowers are agreeing to is the repayment option. Many foreclosure counselors believe that this is just a short-term solution and they usually push for a loan modification option instead.