Indiana Foreclosure Prevention Network (IFPN)
The Indiana Housing and Community Authority helped organize various banks and organizations throughout the state to create the Indiana Foreclosure Prevention Network (IFPN). The IFPN hosts events throughout the state of Indiana that provide counseling and alternatives to foreclosure, they can put homeowners in contact with housing counselors, and they provide various other services to homeowners, most of which are free to borrowers. Over the last 3 years about 60,000 Indiana homeowners have received assistance from the Indiana Foreclosure Prevention Network.
How does the Indiana Housing and Community Authority provide help
Homeowners who have been sent a foreclosure notice, or who are falling behind on their monthly mortgage payments, can be put in touch with a housing counselor who can provide them with advice and information on their options. Homeowners will be put in touch with a certified foreclosure prevention counselor. This individual will review their financial situation and discuss your specific housing situation. The consultations will be offered at no cost to the homeowner as part of the services that are being offered by the Indiana Foreclosure Prevention Network. The housing counselor will discuss your options and help you find the best solution to your situation. Some of the solutions may involve a loan modification, forbearance, or one of the numerous federal government mortgage programs.
Oftentimes when you ask for help, the homeowner will be referred to a certified foreclosure prevention specialist with a local nonprofit organization in your county or town. Another option that is being pushed by the network is the Indiana foreclosure mediation program.
Which Indiana agencies provide homeowners with foreclosure prevention assistance
Dozens of non-profits, community action agencies, and other organizations have agreed to provide free help to borrowers across the state. A sampling of these organizations can be found here. However, there are many others that are not listed. Basically most credit and housing counselors participate.