NeighborWorks America
Home
  Site Map NeighborWorks Lookup Jobs and Consulting
  Google 
About Us
Newsroom
Policy
National Programs
Community Topics
Training
Publications
Winning Strategies
Links
NeighborWorks Data
Printer-friendly version
 

Resources for Foreclosure Professionals

 

Counseling

Research & Reports

Marketing Resources

1.888.995.HOPE

National Foreclosure Mitigation Counseling Program
   

Our Focus

Although many of us have been housing counselors for years, foreclosure intervention counseling is often a new challenge. The majority of the counselors who take NeighborWorks foreclosure training courses have 0-3 years on the job. With ever increasing caseloads, changing legislation and panicked clients, our jobs can be demanding and stressful. This
Web site has been designed to provide you with much needed resources.

 

Spotlight

Foreclosure Hotline Provides Hope,
One Call at a Time

by Bob Kapel

Ted Koppel - Foreclosure prevention Counselor

Our agency, with 16 foreclosure prevention counselors, is one of five that work through the Homeownership Preservation Foundation (www.995hope.org).

We try to help people avoid foreclosure, and we try to help those already in foreclosure to achieve the best possible outcome. Unfortunately, most people wait to call until the situation has escalated or there’s a crisis.

To start, we take a look at their home loan. There are all kinds of loans and many lenders out there, but more than 50 percent of callers are facing foreclosure as a result of an adjustable rate mortgage.

Rate increases are devastating to many sub-prime borrowers. Most had no buffer in their budget. And with many property values declining, homeowners simply don’t have the equity to refinance.

Then we look at what I call “hardship.” Facing foreclosure is usually coupled with things like job loss or cut back in hours, medical bills, short-term disability, a failed business, credit card debt or using credit cards to pay the mortgage, high utility cost, divorce, and high gasoline prices. There is a range of underlying hardships and the mortgage is just icing on the cake.

Read feature article [PDF]

News

 

Foreclosure Legislation

04/24/08
House Panel Approves $15 Billion Foreclosure Bill

04/11/08
Senate Passes Mortgage Relief Bill


Other News Items

05/06/08
NeighborWorks America Announces New Partnership with the Federal Reserve to Help Stabilize Communities Affected by Foreclosure

05/05/08
Housing Counselors Feeling Squeeze
Lenders want their money; borrowers want their home

05/05/08

Thousands of Homeowners Receive Free Foreclosure Help Through NeighborWorks America and HOPE Now Alliance Outreach

04/14/08
More Than Two Hundred Register for NeighborWorks Foreclosure Intervention Counseling Training


03/04/08
Federal Reserve Chairman Bernanke Addresses Ways to Reduce Preventable Mortgage Foreclosures


More articles and news