Home / Tag Archives: Housing Counseling (page 12)

Tag Archives: Housing Counseling

Counseling Improves Mod Success, Nearly Doubles Payment Reductions

Data released by NeighborWorks America Monday illustrates the value of foreclosure prevention counseling for distressed homeowners. The organization has found that a homeowner who works with a housing counselor is nearly two times more likely to avoid foreclosure than those who go it alone. Counseled borrowers also lower their monthly mortgage payments by nearly twice as much and are less likely to re-default after a mortgage modification.

Read More »

CitiMortgage to Hold Call-a-Thon to Assist Distressed Homeowners

CitiMortgage will host a mortgage assistance call-a-thon on Wednesday for customers who have concerns about paying their mortgages. The event begins at 7 a.m. on December 15, and continues until 1 a.m. on the morning of Thursday, December 16, EST. CitiMortgage borrowers can call the company's foreclosure prevention centers for information and advice during these expanded customer service hours. Foreclosure prevention experts will staff the event, but senior managers and supervisors will be on hand to provide additional support.

Read More »

Calls to Homeownership HOPE Hotline Down 14 Percent

The Homeownership Preservation Foundation (HPF) has reported a 14.2 percent decrease in calls to its Homeowners' HOPE Hotline during the month of October. The hotline provides free homeownership education and foreclosure prevention counseling. The organization says it is seeing fluctuations in call volume, often related to the number of foreclosures, which decreased during the month. The state with the most calls coming into the hotline was California.

Read More »

Grip of Financial Distress Tightens Again in Third Quarter: Report

The overall financial health of consumers showed incremental improvements in the first half of 2010, but that progress was wiped out during a span of three months due to weaker household budgets, renewed strains on housing costs, and high levels of unemployment, according to the nonprofit credit counseling agency CredAbility. The average U.S. consumer has been in financial ""distress"" for nine consecutive quarters, with consumers in some parts of the country headed for financial ""crisis.""

Read More »

Fannie’s New Mortgage Help Center Combats Foreclosure in Phoenix

Counseling and foreclosure prevention services are now available for free to struggling homeowners with Fannie Mae loans in Phoenix. Fannie Mae's fifth facility in a series of nationwide help centers, the Phoenix Mortgage Help Center allows borrowers to meet with on-site English- and Spanish-speaking staff and experienced housing counselors to discuss their mortgage situations.

Read More »

Fannie Help Center Provides Free Foreclosure Counseling in Los Angeles

Fannie Mae announced the opening of a new mortgage help center in Culver City, California, this week to provide counseling and other services for struggling homeowners in the greater metro area with loans owned by the GSE. The fourth facility in a series of nationwide mortgage help centers, the Greater Los Angeles Mortgage Help Center is a joint partnership between Fannie Mae and West Angeles Community Development Corporation, major mortgage servicers, and civic and community leaders.

Read More »

Nonprofit Group Reports Jump in Calls from Distressed Homeowners

The Homeownership Preservation Foundation says calls coming into its hotline from distressed homeowners hoping to stave off foreclosure increased 7.4 percent in the third quarter of this year compared to the previous quarter. HPF administers the Homeowner's HOPE Hotline to provide consumers with foreclosure prevention counseling. The nonprofit received 412,353 calls during the third quarter. The largest call volumes came from the states of California and Florida.

Read More »

Foundation Hotline Offers Help Against Foreclosure Scams

The Homeownership Preservation Foundation has partnered with NeighborWorks America, HUD, Fannie Mae, Freddie Mac, and the Lawyers Committee for Civil Rights Under Law to help prevent foreclosure-rescue scams. The coalition is positioning the Homeowner's HOPE Hotline (1-888-995-HOPE) as a central point of contact for homeowners who think they may be victim of a scam. Information provided to the hotline is used by local, state, and federal agencies to shut down predatory companies victimizing distressed homeowners.

Read More »

Report: 134,000 NY Homeowners Receive Pre-Foreclosure Notices

According to the New York State Banking Department, more than 76,000 New York homeowners have received 90-day pre-foreclosure notices since May 31, and a total of 134,000 pre-foreclosure notices have been sent to those who have fallen behind on mortgage payments since data collection began in February. The banking department says it is working with 10 non-profit housing counseling agencies throughout the state, which use the data to target their services to those homeowners most at-risk.

Read More »

HUD to Roll Out Emergency Loan Program for Unemployed by Year-End

To help counter the effects of the still-deteriorating job market on the housing industry, the Dodd-Frank Reform Act provided $1 billion to HUD to implement the Emergency Homeowners Loan Program. The initiative provides eligible borrowers in 32 states and Puerto Rico with a ""bridge loan"" to continue making their mortgage payments for up to 24 months. HUD expects to begin taking applications from borrowers for assistance by the end of the year.

Read More »