Home ownership retention program

A trained housing counselor works one-on-one with clients to maximize the opportunities by working through the steps available to produce positive results. In order to be eligible for a DPA Loan, an applicant must meet all of the following requirements.

Completed applications will be approved on a first-come, first-served basis. The Housing Resource Center may establish a method of prioritizing applications by using weighted criteria see Section 4 in full packet. First-time homebuyer: Applicant must be a first-time homebuyer someone who has not owned a home within the past three years. Area Median Income changes annually.

Income eligibility is determined at the time of closing. Financial Reserves — applicant must demonstrate ability to save capital reserves equal to three mortgage payments by the time of purchase pursuant to affordability worksheet generated by Housing Resource Center. DPA funds to be paid directly to title company. At no time will funds be transferred to applicant. Community Connection offers free foreclosure prevention counseling.

We are a HUD-approved Local Housing Counseling Agency that is ready to help you find options to resolve delinquent mortgage situations. We work with you and your lender to create a plan of action to prevent foreclosure and avoid future mortgage defaults. If your financial situation has changed, we can collect your new financial information and reevaluate your loan for this program and other foreclosure prevention options.

Please call us at 1. I asked for this months ago, now I am in foreclosure , what are you going to do for me? If your financial situation has changed since your loan was last evaluated for a modification, we can collect your new financial information and reevaluate the loan for this and other foreclosure prevention options. Does this program qualify?

This program is only for owner-occupied properties. Contact County Properties for help now or call Your email address will not be published. Facebook Twitter. However, it may be a good idea to talk for free to a nonprofit counselor from a HUD-approved agency to find out all the federal, state and lender programs that you may qualify for and receive a personalized action plan on how to get started.

Website www. The Rescue Payment Assistance RPA program is a servicer-approved lump sum payment to the servicer to bring the first mortgage current. The Mortgage Modification with Contribution Assistance MCA program is a servicer-approved lump sum payment to the servicer to reduce the principal balance of the mortgage to make it more affordable.

The Transition Assistance program assists homeowners in relocation in connection with an approved short sale or deed-in-lieu.