| 12:00 pm - 2:00 pm | Norwood Room

Foreclosure Prevention Initiative - Follow-Up Meeting

Follow-up meeting.

Our next meeting is Wednesday, February 4 at 12 noon at St. Paul’s, 815 E. Grace Street. Contact: Betsy Carr, .(JavaScript must be enabled to view this email address).

Message to Homeowners behind in their Mortgage

In today’s economy and current housing crisis there are many things that make meeting your mortgage obligation difficult.  Regardless of the reason, when you are behind in your mortgage the most important thing you should do is get sound advice and take immediate action.  Here is some information and a resource list to help you make informed decisions about your housing situation.  

5 Tips to Prevent Foreclosure

Immediately review and trim your budget - Identify expenses you can eliminate, reduce, or put off for later.  If you still have more expenses than income you should explore other ways to increase the household income.

Call for HELP!  Contact a HUD approved housing counseling agency to get advice on the various loan workout options available to you; guidance in developing a practical plan of action; and assistance in communicating with your lender to help you avoid foreclosure.

Contact your lender to discuss loan workout options.  Call the loan workout department of your lender. You can discuss your crisis with them and they will explore your available options.

Save money.  Save all the money you possibly can to pay towards past due mortgage payments.  This shows the lender you are serious about keeping your home as well as your ability to discipline your spending.

Avoid foreclosure rescue scams.  Avoid people trying to lure you with promises of a “quick fix.”   If it sounds too good to be true, it probably is.   DO NOT SIGN ANYTHING!  All offers should be reviewed by a HUD approved housing counseling agency to ensure the offer is not a scam.

Local Resources That Can Help 

HUD Approved Housing Counseling Agencies:
Housing Opportunities Made Equal, Inc. ……………………………………………………(804)354-0641
Neighborhood Housing Services (NHS) of Richmond………………………….……..(804)329-2500
Southside Community Development and Housing Corporation………………(804)231-4449
Catholic Charities…………………………………………………………………………………………..(804)545-5920
ClearPoint Financial Solutions………………………………………………………………………(877)422-9040

If Legal Assistance Needed:
Central Virginia Legal Aid Society………………………………………………………………(804)648-1012
Virginia Poverty Law Center……………………………………………………………………….(866)534-5243
Lawyer Referral Services………………………………………………………………………………(804)775-0808

For all of Your Additional Needs contact the United Way by dialing 211