RESOURCES
TO HELP HOMEOWNERS AVOID FORECLOSURE
Government and
Nonprofit Resources: A
number of federal and state agencies and nonprofit organizations have developed
foreclosure prevention programs to help homeowners who are having trouble with
their home loans. Congressional offices may want to inform their
constituents that the following organizations offer free or low-cost foreclosure
prevention programs to eligible homeowners:
HUD
provides a variety of resources for homeowners at risk of foreclosure. The
Department funds free housing counseling services throughout the country.
HUD-approved counselors can help homeowners understand the law and their
options, organize their finances, and represent borrowers in negotiations with
their lenders if this assistance is needed.
Telephone:
1-800-569-4287
Find
HUD Approved Housing Counseling Agencies in your State
Additional
HUD resources for avoiding foreclosure
State Attorneys General
Homeowners
who suspect that they have been a victim of fraud, misleading information, or
other deceptive practices, should contact their state Attorney General’s
office. These offices investigate complaints and sue lenders and other
mortgage originators for alleged illegal behavior. In addition, several
state Attorneys General have been instrumental is setting up multi-agency
foreclosure prevention task forces that provide financial resources and
proactive intervention for homeowners facing or at risk of foreclosure.
Find your state Attorney General’s office
State Housing Finance Agencies
State Housing Finance Agencies administer a wide range of affordable housing and
community development programs. A number of state HFAs have partnered with
other entities (including nonprofit counseling agencies, local governments,
state housing departments and lenders) to provide comprehensive foreclosure
prevention and mitigation strategies.
Find your state housing finance agency
NeighborWorks
NeighborWorks
is a national network of more than 240 community-based nonprofit organizations
(located in 50 states) created by Congress to provide financial support,
technical assistance, and training for community revitalization efforts.
NeighborWorks provides a variety of resources for preserving homeownership in
the face of rising foreclosure rates including HOPE for Homeowners, a
toll-free national hotline that offers free foreclosure prevention and
counseling advice from a third party, HUD-certified, not-for-profit network of
counseling agencies dedicated to helping homeowners avoid foreclosure.
NeighborWorks has teamed up with the Homeownership Preservation Foundation and
the Financial Services Roundtable to provide this service.
HOPE
for Homeownership Hotline (in English and Spanish): 1-888-995-HOPE
Find a HUD-certified NeighborWorks organization
Information on the Center for Foreclosure Solutions
National Community Reinvestment Coalition
(NCRC)
NCRC is a national coalition of more than 800 non-profit organizations that seek
to increase the flow of private capital into underserved communities.
NCRC’s Consumer Rescue Fund works with victims of predatory lending to provide
mediation, refinancing or renegotiation of mortgages. Refinancing services
are currently available in the states of:
NCRC’s
Information and CRF Services line:
202-628-8866
National Council of LaRaza (NCLR)
NCLR
is the largest national Hispanic civil rights and advocacy organization in the
Contact
NCLR’s: 202-785-1670
Neighborhood Assistance
Corporation of
NACA is a national non-profit advocacy and homeownership
organization. NACA's Refinance Program offers new loans to eligible
homeowners with unaffordable mortgages. NACA's Home Save program gives
counseling and financial assistance to eligible homeowners who are at risk of
foreclosure.
NACA's Information and Refinancing Services line:
1-888-302-NACA
Government
Sponsored
Fannie Mae
Fannie Mae’s HomeStay Initiative provides flexible
mortgage products that help homeowners with blemish credit histories refinance
as well as counseling and foreclosure prevention services. In addition,
Fannie Mae has worked with three state housing finance agencies (
Information on HomeStay Initiative
Information on other Fannie Mae refinancing initiatives: contact
state HFA agencies in MA, NY and OH.
Freddie Mac
Freddie Mac helped to develop and fund Don’t Borrow Trouble, a
comprehensive consumer awareness and foreclosure prevention campaign. In
addition, Freddie Mac has partnered with national non-profit organizations,
counseling agencies and several lenders on a foreclosure-avoidance initiative
designed to reach out to delinquent borrowers early on and provide appropriate
counseling through trusted intermediaries to help avoid foreclosure.
Information
on Don’t Borrow Trouble
Legal
Resources:
In addition to the resources above, some homeowners may want to retain an
attorney to help them navigate the legal system:
National Association of Consumer Advocates
The National Association of Consumer Advocates (NACA) is a nationwide
organization of more than 1000 attorneys who represent and have represented
hundreds of thousands of consumers victimized by fraudulent, abusive and
predatory business practices. NACA attorneys have represented thousands of
victims of predatory lending practices. The legal services are provided by
legal service lawyers and private practice attorneys who provide free or
low-cost legal representation.
Contact NACA: 202-452-1989
 |
This is an official Website of the U.S. House of Representatives. | |
Washington, DC Office 2262 Rayburn House Office Building Washington, DC 20515 Phone: 202-225-3661 Send a message. |
District Office 59 Elm Street New Haven, CT 06510 Phone: 203-562-3718 |
|
