Tag Archives: Housing Counseling

More than three-quarters of foreclosure counselors say the borrower experience when turning to the government's flagship modification program for relief is sub-par. The Government Accountability Office (GAO) says counselors it polled cited concerns about HAMP trial denials, including long waiting periods and documentation issues. Some 39 percent said paperwork had been lost or needed to be resubmitted, while 46 percent said it typically takes seven months or more to receive a decision on a trial mod application.

HOPE LoanPort (HLP), a Web-based tool that streamlines home retention applications on behalf of borrowers at risk of foreclosure, recently welcomed nonprofit counseling agencies in Alaska and Kansas to its system. Used by housing counselors, housing finance agencies, investors, and major mortgage servicers, HLP now assists struggling homeowners in 49 states and the District of Columbia.

NeighborWorks America has appointed Eileen M. Fitzgerald as the organization's new CEO, effective June 1. Fitzgerald has served as acting CEO of the nonprofit community development and housing counseling network since January 2011 when Kenneth Wade stepped down from the position.

Nearly one-quarter of calls from homeowners who believe they are victims of a foreclosure rescue scam originate in California, according to statistics released by the Homeownership Preservation Foundation (HPF), which operates a national hotline to direct homeowners to accredited counseling services. While California's reported fraudulent activity was significantly higher than other states, only Los Angeles ranked in the top five cities, indicating that purported scam activity isn't concentrated in any one area of the state.

CitiMortgage and Neighborhood Housing Services of South Florida will host a free homeowner outreach event in Miami for distressed homeowners on Wednesday. Part of the Citi Road to Recovery Homeowner Assistance Series, the event is open to all homeowners who are struggling with mortgage payments.

Four senators have drafted a letter they intend to send to key policymakers advocating for the return of federal dollars to HUD's housing counselor program. Congress eliminated funding slated for the federal program, which supports counseling efforts for foreclosure prevention, back in April as part of the 2011 budget resolution. Sens. Akaka, Menendez, Snowe, and Rockefeller are asking that $87.5 million be included in the 2012 budget to fund the HUD program, and they're soliciting their Senate colleagues for additional support.

CitiMortgage and Los Angeles Neighborhood Housing Services will host a free homeowner outreach event for distressed homeowners in Torrance, California on Tuesday. Part of the Citi Road to Recovery Homeowner Assistance Series, the event is open to all homeowners needing help with their mortgage payments.

The nonprofit counseling agency CredAbility released the results of its first-quarter Consumer Distress Index Thursday. While the average U.S. household is still in financial distress - and has been for 10 consecutive quarters - the agency says the index has hit its highest score in two and a half years. CredAbility attributed the positive movement to the fact that employment levels rose and consumers now have a better handle on managing household budgets. On the flip side, the score dropped in the housing category.

Las Vegas residents facing foreclosure can receive help during a Home Rescue Fair this Friday and Saturday at the Palace Station Hotel Casino. Sponsored by the city of Las Vegas, the event was organized by Housing for Nevada and the Alliance for Stabilizing Communities, with the support of Bank of America.

California's Code 3 Realty & Mortgage Inc. will begin foreclosure prevention conference calls this month to provide information to homeowners facing foreclosure, as well as owners and renters occupying homes after they have been foreclosed. While many real estate companies host foreclosure prevention workshops for distressed homeowners, Code 3 contends that attendance at these events is usually low because foreclosure is such a sensitive topic and can be embarrassing for many. The company believes telephone conferences offer a discrete alternative.