Foreclosure counseling in Kentucky from Community Ventures Corporation.
Homeowners in Kentucky who have received a foreclosure notice, or who are behind on their mortgage, can contact Community Ventures Corporation for free or low cost counseling. The non-profit has several locations across the state, including in in Louisville, Fulton, Owensboro, and Lexington among other areas. Find details below on how Community Ventures Corporation can help people with their mortgage.
The service they provide is part of the NeighborWorks America program and Community Ventures Corporation is also HUD certified. The organization was founded in 1982 and they offer housing assistance to first-time buyers, low-income families, rural residents, and individuals who need to repair homes - those who often struggling with their mortgage or buying/maintaining a home.
Programs from Community Ventures for prospective homeowners
The Rural Homeownership Program is a key resource in Kentucky, as many counties / communities are defined as being in rural zones. Buying a home, and getting a mortgage, in rural areas brings unique challenges. Both nationwide and in Kentucky there are often older housing stock, households with lower income levels, and limited banks and lenders to get a mortgage from
- This is an option statewide. Community Ventures Corporation Rural Homeownership Program helps by buying, renovating, and then selling homes directly to prospective buyers. This in effect modernizes the property - eliminating the need for extra loans for repairs.
In addition to fixing up the house, additionally, qualifying buyers may receive down-payment assistance and grants or interest free loans to support with closing costs. This “one‑stop shopping” approach serves as a bridge over financial challenges for first-time homebuyers.
- In fact, the program was designed specifically for those aiming to purchase in rural Kentucky towns or counties. This CVC initiative offers financial assistance for down payments, grant money and loans to help with other upfront costs
Mortgages from Community Ventures Corporation are available. Beyond their own initiatives, CVC partners with the Kentucky Housing Corporation (KHC), JP Morgan Chase, Bank of America and lenders such as Franklin American Mortgage Company to offer first- and second-mortgage loans featuring fixed-rate, affordable terms. These mortgages as well as partnerships enhance access to various banks, diverse lenders and stable mortgage products. There are options for people with lower FICO scores and limited incomes too.
Foreclosure counseling and mortgage assistance for current homeowners in Kentucky
Owning a home isn’t a one-time milestone. It comes with ongoing expenses and it’s an ongoing commitment. Recognizing this, CVC also provides help to anyone in Kentucky that owns a house and needs help. It is always highly recommended that homeowners facing financial difficulties reach out for help very early in the process, and connect early with a housing counselor from CVC.
The non-profit is HUD‑Certified with all of the housing counseling and educational services offered. Community Ventures Corporation is also a charter member of NeighborWorks America. They provide educational tools and counseling services. These include guidance on budgeting for mortgage payments, navigating interest rates as well as helping with mortgage refis, managing property taxes, and planning for unexpected repairs Specifically some of the programs include:
Affordable lending for home improvements is an option, including low-cost mortgages. Many homeowners in Kentucky (either existing ones or people soon buying a home) face the need for updates or repairs but lack the funds. CVC offers affordable lending options to finance home improvements, ranging from interest free loans to low-cost home loams and more. The service will helping client maintain property value and avoid default on subpar housing conditions . For current homeowners, this boosts both their safety and their property’s long-term market value.
Contact information
To apply for help, or to get more information about foreclosure assistance and other housing services offered by Community Ventures Corporation, dial (800) 299-0267. They have several offices around the state of Kentucky.
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