Keep My TN Home: On the Steps of Foreclosure

Save a couple steps, speed up the process and let me help you.There is no charge for my services. Call me and I can do a preliminary screening over the phone.  I won't waste your time if you are not eligible.

Rod Williams
Senior Housing Counselor
Woodbine Community Organization
222 Oriel Ave., Nashville, TN 37210
Work phone #: 615-850-3453
FAX: 615-833-9727
web site: Woodbinecommunity.org

Nearly 1.3 Million Homeowner Assistance Actions Taken through Making Home Affordable

More than 1 million homeowners have received a permanent modification through the Home Affordable Modification Program (HAMP). These homeowners have reduced their first lien mortgage payments by a median of approximately $539 each month – more than one-third of their median before-modification payment – saving a total estimated $15 billion to date in monthly mortgage payments.

Nearly 94,000 second lien modifications have been completed through the Second Lien Modification Program (2MP), and over 71,000 homeowners have exited their homes through a short sale or deed-in-lieu of foreclosure with assistance from the Home Affordable Alternatives Program (HAFA).

87% of eligible homeowners entering a HAMP trial modification since June 1, 2010 have received a permanent modification with an average trial period of 3.5 months.

Homeowners currently in HAMP permanent modifications with some form of principal reduction have been granted an estimated $7.2 billion in principal reduction. 81% of eligible non-GSE borrowers entering HAMP in August have received some form of principal reduction with their modification.

If you think you may qualify for a  Home Affordable Modification Program or the Hardest Hit fund, improve your chances of getting approved by letting an experienced housing counselor assist you. The service is free. You will never pay a dime for letting a HUD-approved housing counselor help you resolve your housing need. For assistance in middle Tennessee call Rod Williams 615-850-3453.

Hardest HIt in other states

 If you do not live in Tennessee and want to know if Hardest Hit is available in your state, follow this link.

The Hardest Hit Fund is Available to Help Homeowners in 18 States and the District of Columbia

N.C. Foreclosure Prevention Fund Caseworkers

Paul O. and his wife outside their home in North Carolina.

Reposted from US Treasury

By: Mark McArdle

7/28/2011

Struggling with mortgage payments and facing the prospect of foreclosure can be overwhelming and frightening for homeowners. In 2010, the Obama Administration launched the Hardest Hit Fund to help homeowners avoid foreclosure in the areas hardest hit by steep home price declines and unemployment. Through the program, participating housing finance agencies (HFAs) in 18 states and the District of Columbia are implementing a variety of different initiatives to help homeowners struggling with their mortgage payments. All participating HFAs are now operating programs widely and offering assistance to homeowners.
The North Carolina program—the N.C. Foreclosure Prevention Fund—pays an unemployed worker’s mortgage for up to 24 months (up to $24,000) while they are enrolled in an educational or training program or are searching for a new job. In high-unemployment counties, the cap is 36 months. The funds are provided as a zero-interest loan to the homeowner, which does not have to be repaid if the homeowner continues to live in their home for 10 years. The loan can also be used by homeowners who are seeking employment because of a financial hardship such as a divorce, or who have become re-employed but need to bring their mortgage current because they fell behind during a recent period of unemployment.

Paul O. has experienced the benefit of the Hardest Hit Fund first hand. After 17 years as a shipping and warehouse supervisor for an electronics manufacturer in Winston-Salem, he was laid off in February 2010. While disappointed, Paul had peace of mind on the day he was laid off. Paul says that was because of the information he had received from the Governor’s Workforce Rapid Response Team about the N.C. Foreclosure Prevention Fund.

The Rapid Response Team offers early intervention for workers like Paul who are affected by layoffs or closures throughout North Carolina. Led by the N.C. Department of Commerce and local workforce development professionals, with funding from the U.S. Department of Labor, a Rapid Response team meets with companies planning layoffs or closures and their employees on short notice and in confidentiality. The N.C. Housing Finance Agency’s outreach teams have participated in nine rapid response deployments within the past year, providing resources and information to over 4,000 displaced workers who may be eligible for assistance. Partnerships like these allow the state to target outreach directly to individuals who are likely to be eligible for assistance.
Paul says that what he learned about the N.C. Foreclosure Prevention Fund during his Rapid Response meeting last November gave him his greatest comfort—knowing that a program was available to help him keep his home during the transition. He left that meeting with a notebook full of materials that gave him a sense of direction and hope. One of the pages he dog-eared instantly was the flier for the N.C. Foreclosure Prevention Fund.
“We don’t want homeowners to wait until they’re in foreclosure to use our loans,” said Betsy Rozakis, the Housing Finance Agency’s CFO and director of the N.C. Foreclosure Prevention Fund. “Our goal is to provide help before they’re in foreclosure, and before they have depleted their retirement savings or ruined their credit.”
Paul is now enrolled at Forsyth Community College to get an advanced certification in shipping and warehouse management that will help him become more competitive in a job market he has not had to venture into in over 17 years. Paul believes this has only been possible because of the N.C. Foreclosure Prevention Fund. The N.C. Housing Finance Agency will use loan funds to pay his mortgage and homeowner’s association dues through June 2013, while he finishes his education and seeks re-employment.
Hardest Hit Fund programs vary state to state, but may include the following:

• Mortgage payment assistance for unemployed or underemployed homeowners
• Principal reduction to help homeowners get into more affordable mortgages
• Funding to eliminate homeowners’ second lien loans
• Help for homeowners who are transitioning out of their homes and into more affordable places of residence.

Homeowners in participating states can apply for the Hardest Hit Fund through 2017, or until all program funds are allocated for homeowner assistance. For more information about the program in your state, contact your HFA directly.

Making Home Affordable Plans Nashville Event to Help Struggling Tennessee Homeowners Keep their Homes

Reposted from Treasury Notes
By: Andrea Risotto,10/19/2012

Are you a Tennessee homeowner struggling with your mortgage payments?  Would you like to understand the options available to you based on your particular circumstances?  Do you need help working with your mortgage company to apply for assistance?  If so, then we encourage you to attend the free Helpfor Homeowners Community Event at the Nashville Convention Center on Wednesday, October 24. 

At next week’s event, which is co-sponsored with the HOPE NOW Alliance, homeowners in the Nashville area will be able to meet face-to-face with 15 of the nation’s largest mortgage servicers to discuss options to make their mortgage payments more affordable. Every homeowner who attends will leave with a clearer idea of their eligibility for help and next steps.

We encourage you to attend even if you have tried unsuccessfully to work with your mortgage company in the past, particularly if you have had a change in circumstances.  Local HUD-approved housing counselors will be on-site to meet with homeowners and offer free guidance. And there are more options for assistance available today than ever before, including new opportunities for mortgage modifications, refinances and unemployment assistance.  

One of the newer programs available to homeowners in the Volunteer State is Keep My Tennessee Home.  Funded by Treasury’s HardestHit Fund, Keep My Tennessee Home offers assistance to homeowners struggling to keep up with their mortgage payments due to unemployment or a reduction in wages. This program makes payments to a homeowner’s mortgage company for up to 18 months while he or she looks for work. 

Far too often, struggling families in Tennessee and across the country tell us they were unaware of their options or too scared to reach out.  But remember that—every month—hundreds of additional Tennessee families are getting help to make their mortgage payments more affordable.  Keep My Tennessee Home is an example of one such program where agencies across the state are working together to help homeowners.

As the administrator of Keep My Tennessee Home, the Tennessee Housing Development Authority (THDA), told us, “We recently attended an outreach event in a community southeast of Nashville.  Toward the end of the evening, an adult couple timidly approached us and subsequently thanked us for helping them keep their home.  This couple was accompanied by their teenage son and daughter.  When their son realized who we were, he stuck out his hand and, shaking vigorously, thanked us very sincerely for helping his family stay in their home. All it takes is one experience like this to remind us of what this program is all about.”

Since 2009, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) have sponsored 77 free outreach events for struggling homeowners across the country.  Additional events are already planned for 2012 in Orlando,Florida and Ontario,California.  More information about these events and other free resources for homeowners is available on MakingHomeAffordable.gov. (end)


You can skip this outreach event and call me and I will screen you over the phone and if you qualify I will serve you.  You will save a lot of your time.  I am a HUD-approved housing counselor. There is no cost for our services.
Rod Williams 615-850-3453

NASHVILLE, TN | HELP FOR HOMEOWNERS COMMUNITY EVENT

Wednesday, October 24, 2012 | 1:00 p.m. – 8:00 p.m. ET

Nashville Convention Center

Center Exhibit Hall

601Commerce Street, Nashville, TN 37203

Click for Event Brochure

Learn about the Making Home Affordable Programs

You can skip this event and come directly to me and I will evaluate you for all of the work-out options. If you are not eligible, I will tell you.  If you are eligible or potentially eligible I will tell you how to improve your chances of getting a workout. I can help you assemble  your work-out package. If you are eligible for the Hardest Hit program, I will serve as your counselor and process your application. There is no charge for our service.


Rod Williams
Senior Housing Counselor
Woodbine Community Organization
222 Oriel Ave., Nashville, TN 37210
Work phone #: 615-850-3453
FAX: 615-833-9727
web site: Woodbinecommunity.org

you may be eligible for a payment under the National Mortgage Settlement

If you lost your home to a foreclosure between January 1, 2008, and December 31, 2011 and your loan was serviced by Ally/GMAC, Bank of America, Citi, JP Morgan Chase, or Wells Fargo, you may be eligible for a payment under this settlement. Details about the eligibility requirements and the benefits are available at the national mortgage settlement website.

On September 17, 2012, the Tennessee Attorney General's Office and the National Mortgage Settlement Administrator will be sending a postcard to the last known address of eligible Tennessee consumers. This postcard, which can be viewed here, gives you notice that a claim form will be sent to you in the next month. The deadline to return the claim form is January 18, 2013.

If you did not receive a postcard or claim form but believe you should be eligible, please contact the National Mortgage Settlement Administrator at by telephone at 866-430-8358 (hearing impaired call 866-494-8281), Monday through Friday 7:00 a.m. – 7:00 p.m. Central Time or by email at Administrator@nationalmortgagesettlement.com. You can also find out more information about this foreclosure payment program by visiting the national mortgage settlement website. This claim form process is free, and you should not pay anyone to help you submit your claim form. If you have any questions about the claim form, please contact the National Mortgage Settlement Administrator. (link)