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MORTGAGE FORECLOSURE

MORTGAGE FORECLOSURE. Resources for Training. by. Joanne Bankston, Ph.D. Kentucky State University Cooperative Extension Program . Joanne Bankston, Ph.D. GETTING STARTED. Developing programs on mortgage foreclosure for Extension assistants and agents

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MORTGAGE FORECLOSURE

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  1. MORTGAGE FORECLOSURE Resources for Training

  2. by Joanne Bankston, Ph.D. Kentucky State University Cooperative Extension Program Joanne Bankston, Ph.D.

  3. GETTING STARTED • Developing programs on mortgage foreclosure for Extension assistants and agents • Explore federal and state resources for up-to-date information • Spreading the word ASAP

  4. FEDERAL FORECLOSURE INFORMATION • Website for seeking solutions to foreclosure issues: • www.federalreserve.gov/consumerinfo/foreclosure.htm • Link to foreclosure centers and housing counselors

  5. Website links to agency publications • Department of Housing and Urban Development • Department of Justice • Federal Housing Administration • Federal Trade Commission

  6. NeighborWorks America • Created to preserve homeownership • Foreclosure counselors around the nation • Outreach Campaigns to reach struggling homeowners • Collaborates w/ local leaders to create intervention programs

  7. Other Foreclosure Resources • Federal Housing Administration website: • www.fha.gov • Hope for Homeowners – created by Congress to help those at risk of default and foreclosure refinance into more affordable loans • www.hopenow.com • Hope Hotline 1-888-995.HOPE

  8. Provides: Affordable housing opportunities Lower-than market mortgages Down payment assistance Homeownership education Counseling Housing production financing Rental assistance Housing production financing Rental assistance Programs for homeless www.kyhousing.org State ResourcesThe KY Housing Corporation

  9. KY Homeownership Protection Center • Designed to help KY households avoid foreclosure who are on the brink of losing their homes • Administered by KHC • Network of counselors and counseling agencies • Provides information on mortgage foreclosure solutions & workout plans • www.protectmykyhome.org

  10. KY Hownership Protection Center Works w/ KY Families • Helps families to: • Understand foreclosure process and causes • Develop plan to address • Find resources to address needs • Learn to manage finances • Determine options for preventing foreclosure • Avoid predatory lending • Find alternative housing solutions if foreclosure occurs

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