MORTGAGE FORECLOSURE
Resources for Training
by
Joanne Bankston, Ph.D. Kentucky State University Cooperative Extension Program
GETTING STARTED
Developing programs on mortgage foreclosure for Extension assistants and agents Explore federal and state resources for upto-date information Spreading the word ASAP
FEDERAL FORECLOSURE INFORMATION
Website for seeking solutions to foreclosure issues: www.federalreserve.gov/ consumerinfo/foreclosure .htm Link to foreclosure centers and housing counselors
Website links to agency publications
Department of Housing and Urban Development Department of Justice Federal Housing Administration Federal Trade Commission
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
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
State Resources The KY Housing Corporation
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
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
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