Foreclosure prevention counseling in Texas.

Texas families and individuals can receive foreclosure prevention counseling from The Texas Department of Housing and Community Affairs (TDHCA). The grant money is being supplied by the federal government and is being funded from the National Foreclosure Mitigation Counseling (NFMC) Program. the goal of the grant money is to delay and hopefully stop the tide of home foreclosures in Texas.

The funds will be used to build on an existing foreclosure prevention counseling effort that was launched in late 2008. Currently, the TDHCA works with nine other organizations and charities at the local level. these various groups work directly with Texas homeowners who are in or near a foreclosure and together they create either a repayment plan or other modification to their mortgage loan. The counseling and assistance provided is free for homeowners who are in danger of losing their home. It is estimated that this funding will help provide foreclosure counseling for an estimated 1,700 families.

There are several local counseling providers who are set to receive a share of grant funds and distribute the counseling to homeowners, and they include Credit Coalition, Houston; Frameworks Community Development Corporation, Austin; CCCS of South Texas, Corpus Christi; North Texas Housing Coalition, Dallas; El Paso Community Action Program/Project Bravo, El Paso; ; New Vision Housing Alliance, Houston; the City of San Antonio; Our Casas Resident Council, San Antonio; and Gulf Coast Community Services Association, Houston. Click here to find a listing of agencies.

 

 

 

There are some conditions to this assistance program. Those families and individuals who are eligible to receive foreclosure intervention counseling must own and they also need to live in one-unit, single-family properties with mortgages that are in default or in danger of default. Counseling and other services that are provided will include a financial analysis of each client’s situation, research to determine the current value of the client’s home, mediation and loan workout solutions, and a review of all other available options, such as a refinancing or restructuring of the mortgage.

The TDHCA organization is committed to provide 35 percent of all counseling sessions to low and moderate income and/or minority neighborhoods and 65 percent of counseling sessions will be offered to low income and/or minority homeowners. Call TDHCA at (512) 475-3800.

The federal government grant is being jointly administered by the Texas State Affordable Housing Corporation (TSAHC), a nonprofit organization charted by the Texas Legislature for the promotion affordable housing, as well as the TDHCA.