The website for the National Foreclosure Mitigation Counseling program provides information on a not-for-profit organization that provides free foreclosure counseling and prevention services to homeowners in select counties in New York, Indiana, and Ohio. PathStone has been helping low-income families and communities in need for over 40 years. They offer a variety of assistance programs to help people get back on their feet.
They offer a comprehensive foreclosure solution that covers everything from start to finish. The Department of Housing and Urban Development provides free mortgage and foreclosure advice, budgeting assistance, and advocacy with lenders to help homeowners. More foreclosure prevention services offered by PathStone include: -case management and budget counseling -mortgage default counseling -mortgage modification and renegotiation assistance -post-foreclosure counseling and assistance -pre-purchase homeownership counseling -rental housing counseling
A homeowner can get free counseling from a counselor. This service provides assistance to borrowers who are struggling to make their monthly mortgage payments.
The borrower and counselor will review the homeowner’s financial situation in detail during this initial consultation. They will look at the terms of your current mortgage, including your repayment schedule, interest rates, and any fees. The rest of this consultation will be focused on discussing the budgeting process and any other outstanding debts that the homeowner may have.
If the homeowner seems like they might lose their home through foreclosure, the counselor and borrower will talk about the foreclosure process and what steps are involved. The foreclosure process is usually only started as a last resort. If the situation comes to that, you will be told of all your rights and what is expected of you.
Free solutions to prevention a foreclosure
After reviewing the homeowner’s situation, if it seems that the home can be saved, the counselor may directly help the borrower. This means that if the borrower feels it would be helpful and they request it, the PathStone housing counselor will talk to the homeowner’s bank or lender to try and work something out. The goal of this project is to come up with possible solutions to the housing crisis.
This means that the terms of the mortgage will be changed to be more beneficial to the homeowner. This could include a lower interest rate, a longer repayment period, or a lower monthly payment. A forbearance period is a time frame during which a borrower can temporarily suspend making payments on their mortgage. The solutions to the problem could be things like reducing interest rates, not charging fees, or helping people who are in foreclosure with programs offered by the lenders.
In some cases, the bank may be willing to reduce the amount of money that is owed. The goal would be to provide immediate relief, and to also put in place a new mortgage that is affordable over the long term. If you are struggling to keep up with your mortgage payments, you may be eligible for other housing assistance programs. These programs include a Deed in Lieu, which allows you to hand over your home to the mortgage company in exchange for them forgiving the debt. For more information on these and other programs, click here.
States that offer the mortgage and foreclosure programs
PathStone provides free foreclosure counseling in several states and counties. The following locations offer these services.
New York is divided into many counties, including Dutchess County, Monroe County, Genesee County, Livingston County, Ontario County, Sullivan County, Orange County, Orleans County, Wayne County, and Wyoming County. Call (845) 569-0770 and ask for extension 12.
Ohio is made up of the following counties: Auglaize, Allen, Fulton, Henry, Defiance, Mercer, Paulding, Putnam, and Van Wert. The phone number is (419) 875-6654 x 240.
The counties in Indiana are Adams, Delaware, Blackford, Grant, Hancock, Henry, Madison, Marion, Randolph, and Wells. To reach someone by phone, dial their phone number. In this case, the number to dial is (765) 286-2162.
Apply for housing resources from Pathstone
PathStone provides free foreclosure prevention programs and solutions. To learn more, please contact us. The main offices for each state are located in the state capital.