Seattle Washington foreclosure prevention.
The city of Seattle has partnered with two different non-profit agencies in the region to offer a foreclosure prevention program. The Urban League of Metropolitan Seattle as well as Solid Ground both administer the program. However several other HUD certified agencies can also play a role in assisting homeowners in the Seattle Washington region. Loans, free counseling, and other forms of assistance are offered. Get details below.
The Office of Housing in Seattle created the Foreclosure Prevention Program in 2008. The primary goal of the program was to help homeowners across the city work out repayment plans with their bank or lender and avoid a default on their home loan, all in order to help families and individuals stay in their homes. If the homeowner is just too far behind, or if they realistically would not be able to save their home, then the prevention program will help them gain enough time to sell their homes on their own terms and may be able to help them move and find a new home or apartment.
What does Seattle foreclosure prevention program do
If you apply and are found to be qualified, the Seattle foreclosure prevention program may be able to provide free mortgage counseling and even financial support. For example, a counselor can help negotiate and/or mediate a solution with your bank or lender, and funds are available to create home stabilization loans of up to $5,000 which is direct financial aid. Receiving assistance in negotiating repayment plans with lenders is key in today’s housing market.