Wisconsin mortgage help and foreclosure assistance.
Locate help for paying your mortgage and obtain foreclosure assistance in all cities including Milwaukee and Madison.
Mortgage and Foreclosure Mediation in Milwaukee Wisconsin
Hundreds of thousands of dollars is being provided to launch the Milwaukee foreclosure mediation program. Marquette University Law School is behind the program. They have allocated resources, training, and other support to help ensure it is successful. Volunteers and law firms are instituting a foreclosure mediation program at the Milwaukee County Courthouse. Read more.
Also, find out more on the mortgage assistance resources specific to Milwaukee in the form of a mediation program.
Dane County Foreclosure Prevention Taskforce
Government agencies and nonprofit organizations have come together to create a foreclosure prevention program that is made up of three main components. Counselors will meet with homeowners and offer prevention, intervention/mediation, and stabilization. The goal is to reduce and stop foreclosures in Dane County. Read more Dane County foreclosure prevention.
Foreclosure Mediation in Dane County
A foreclosure mediation program has been initiated in Dane County Wisconsin. It is a free resource to those who meet program terms. Click here to learn more on Dane County foreclosure mediation. It is a voluntary program that should help to reduce the number of mortgage delinquencies and foreclosures in Dane County and help people get back on track.
Wisconsin housing counseling organizations
The federal government has certified several non-profits across Wisconsin as HUD approved agencies, and they offer homeowners several housing, mortgage and foreclosure assistance programs. More on the Wisconsin HUD agencies.
Options for Milwaukee Homeowners
This is the largest metropolitan area in the state. Partly due to that reason it contains the highest number of non-profits, housing specialists, and places for struggling homeowners to call for help. Almost 10 different organizations are currently focused on helping Milwaukee Wisconsin residents deal with a housing crisis, and they offer free or low cost mortgage delinquency counseling. Get information on Milwaukee foreclosure prevention solutions.
JP Morgan Chase opens a housing center in Milwaukee
One of the nations largest lenders, JP Morgan Chase, has opened a new housing counseling center in Milwaukee Wisconsin. The location will have on location a staff of highly trained foreclosure prevention counselors and staff who will meet directly with borrowers and provide them with free advice and assistance. Learn more.
Countrywide Offers Mortgage Assistance
A settlement was announced between Wisconsin and Countrywide Financial Corporation, now Bank of America. Countrywide is America’s largest mortgage servicer and lender. Countrywide has agreed to provide mortgage loan modifications and also over $41 million in other economic aid for Wisconsin borrowers.
Under the terms of this settlement agreement between Wisconsin and Countrywide, the lender has agreed to provide various forms of mortgage relief, including:
- Waivers of loan modification fees, default/delinquency fees, and they will not charge prepayment penalties
- Countrywide is creating an affordable, streamlined loan modification process that will help almost 3,000 eligible home borrowers with both pay option and subprime loans
- An additional $1.6 million in foreclosure relief benefits for Wisconsin consumers
The mortgages covered by the settlement are the highest interest rates and riskiest defaulting loans that are at the center of America's mortgage and foreclosure crisis. Assuming that every eligible Wisconsin borrower participates in this program, the loan modification program will provide more than $40 million in savings to Wisconsin homeowners.
A portion of the settlement money will be used to fund and help pay for foreclosure mitigation programs. The Wisconsin attorney general worked with the Department of Financial Institutions and the Department of Agriculture, Trade and Consumer Protection on the settlement. The attorney general also plans to work with funds from the settlement. These government organizations will partner with agencies and other entities that have been working on issues related to the housing crisis. One of their goals is to reduce the rate of foreclosures that are occurring across the state.
Wisconsin homeowners with questions can get information. Or if they want to see if they qualify for eligibility in Countrywide's Nationwide Homeownership Retention Program, they should contact Bank of America or Countrywide Financial.
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