Preserving Homeownership

Help and Hope is just a Phone Call Away at No Cost to You!

Are you behind on your mortgage payments? Do you also have a second mortgage? Are you in danger of foreclosure? Don’t panic – H.O.M.E. DuPage can help! Our Preserving Homeownership Class teaches you Foreclosure Prevention Options including:

  • Forbearance – working with your lender to reduce or suspend mortgage payments for a certain period of time.

  • Modification – working with your lender to permanently change the terms of your mortgage to make payments more manageable to you - designed for homeowners who have reduced incomes, but still have enough stable cash flow to support a mortgage payment

  • Reinstatement – using asset liquidation, disability settlement or tax refund or gift or inheritance to cover past due payments, taxes and fees

  • Refinance – a new mortgage at a better rate or a traditional refinance?

    • Home Affordable Refinance Program (HARP)
    • FHA Short refinance Program
    • I-Refi federal refinance program

     

  • HOPE for Seniors Reverse Mortgage – HOPE (Housing Options for the Elderly) empowers seniors to evaluate their options to manage their finances to use the equity in their homes to remain in their own home as they age. Click here for more details on a Home Equity Conversion Mortgage.

Beware of Scams

Unfortunately, scam artists are preying on homeowners in crisis. Beware of any individual or organization that wants to charge you a fee to negotiate a refinancing or modification.   You should work directly with your current lender/servicer.  If you need help or advice, consult an HUD-approved housing counseling agency like H.O.M.E. DuPage, Inc.  Our services are free.

The Federal Trade Commission has important tips to help consumers recognize and avoid foreclosure scams on their website at  https://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre42.shtm

If you have paid a fee to a third party and believe you have been the victim of a scam, the Illinois Attorney General’s office may be able to help. You can get more information on their services at https://www.illinoisattorneygeneral.gov/consumers/homeowners_help.html

REGISTER

Sign up today for one of our next class now or schedule an appointment.

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Foreclosure Prevention Counseling provides clients with free one-on-one counseling and assistance with loan modification requests, forbearance and other workout options. Meeting with our counselors and following an action plan can greatly increase the likelihood that foreclosure will be prevented.

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Counselor in the Court

Counselor in the Court is a foreclosure prevention/homelessness prevention program that provides multiple services against foreclosure. A H.O.M.E. DuPage, Inc., HUD approved counselor is stationed in foreclosure court 3 to 4 days per week to consult with homeowners in crisis. The counselors work to connect these homeowners with other components of the program including foreclosure workshops and foreclosure prevention counseling. Once in counseling, H.O.M.E. counselors provide one-on-one support and follow up. They assist homeowners to learn their options, determine their eligibility for loss mitigation and possibly prevent foreclosure.

·         If a loan modification or other loss mitigation options are an option, our counselors will help guide you through this process acting as a liaison between the lenders/services and the borrower.

·         Clients not eligible for a loan modification or other loss mitigation options are given information on how to get through the foreclosure process with the least amount of stress as possible.

·         Clients can be referred to other agencies and programs for housing and other assistance programs.