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Tag Archives: Housing Counseling

HOPE NOW Reports 385K Loan Mods in First Half of 2012

The first half of 2012 saw more than 385,000 permanent loan modifications for struggling homeowners, HOPE NOW reported Tuesday. The voluntary, private sector alliance of mortgage professionals and non-profit counselors released its June 2012 data, showing that 385,468 homeowners received permanent loan modifications for the first half of the year.

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CitiMortgage Starts ‘Road to Recovery’ Tour to Assist Service Members

CitiMortgage announced Thursday the launch of its proprietary ""Citi Military Road to Recovery Tour"" designed to help current and former Armed Services members who need assistance with their mortgages. The tour will feature five homeowner-support events near military bases all around the United States. At these events, Citi's Homeowner Support Travel Team of mortgage experts and HUD-approved housing counselors will have individualized discussions with both current service members and veterans.

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InCharge Partners with NeighborhoodLIFT in Orlando

InCharge Debt Solutions announced Monday it is teaming up with Wells Fargo, the city of Orlando, and Neighborworks America in a program that will provide down payment assistance grants of up to $15,000 to qualified Orlando home buyers.

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NFMC Clients Nearly Twice as Likely to Receive Mod, 1.3M Counseled

Through National Foreclosure Mitigation Counseling (NFMC), more than 1.3 million homeowners have received foreclosure prevention counseling by local nonprofits and state housing finance agencies since March 2008, NeighborWorks America announced Monday. So far, the NFMC has also received six appropriations from Congress totaling $619.87 million. According to a report, NFMC clients who had their payments modified saved an average of $176 more per month, and those who received help were nearly twice as likely to obtain a modification.

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Foreclosure Counseling Agencies to Receive $73.8M

NeighborWorks America announced $73.8 million in awards for foreclosure counseling efforts this week, which followed HUD's recent revelation of $42 million to support housing counselors. This latest round of funding will go to 32 state agencies, 18 HUD-approved intermediaries, and 86 community-based NeighborWorks organizations to provide counseling to those facing foreclosure. About 190,000 homeowners are expected to receive help. NeighborWorks also expects to train more than 2,000 counselors with what is now the sixth round of its program funding.

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HUD Grants $42M to Housing Counselors

HUD Secretary Shaun Donovan announced Friday the distribution of $42 million in grants to 468 housing counseling agencies nationwide. In his announcement Friday, Donovan called housing counseling programs nothing less than indispensable. After national funding for housing counseling was cut last year, Donovan said, ""We fought hard to persuade Congress to restore funding for housing counseling in HUD's budget and now we're working to make these important resources available as quickly as possible.""

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Housing Fix: Minority Group Unveils $1.2 Billion Industry-Led Program

The National Association of Real Estate Brokers, Inc. (NAREB) announced the launch of a 25-city, $1.2 billion REO and foreclosure mitigation initiative called the Homeowner's Assurance Program (HAP). NAREB, through is network of industry professionals, will provide the agent infrastructure to manage, market, and dispose of nonperforming loans and REO assets acquired under the program. Targeted buyers include first-time homebuyers and others who are caught in the credit crunch and having trouble purchasing a home.

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Treasury Hosts Servicer Workshops for Florida Agents and Homeowners

Treasury is heading to the coastal cities of Miami and Tampa, Florida, this week in order to offer assistance to homeowners struggling with their mortgage payments. Treasury will host a ""Help for Homeowners"" outreach event in each of the hard-hit Florida cities where homeowners can meet one-on-one with their servicers. Before the homeowners arrive, though, Treasury has blocked off time for real estate professionals to meet with the servicers on behalf of their clients and to participate in short sale workshops led by the servicers themselves.

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Connecticut Receives $190M in National Settlement

Connecticut is set to receive more than $190 million from the multi-state settlement with the nation’s largest mortgage servicers. ""There are many reasons why I believe this settlement is good for Connecticut, but the most important reason is this: it provides immediate help to thousands of Connecticut homeowners at a time when they can still use that help to save their homes,"" said Connecticut Attorney General George Jepsen, who served on the negotiating committee that established the settlement with the banks.

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Ohio Awarded $335 Million Through Settlement

The $25 billion, 49-state settlement awarded Ohio with $335 million to be used for recovery and prevention efforts. Through the creation of a grant program, the AG's office will set aside $75 million to fund the removal of vacant and abandoned properties, which decrease the value of surrounding homes. While the exact number in Ohio is unknown, the estimate is 100,000 properties.

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