Nearly 1.3 Million Homeowner Assistance Actions Taken through Making Home Affordable

More than 1 million homeowners have received a permanent modification through the Home Affordable Modification Program (HAMP). These homeowners have reduced their first lien mortgage payments by a median of approximately $539 each month – more than one-third of their median before-modification payment – saving a total estimated $15 billion to date in monthly mortgage payments.

Nearly 94,000 second lien modifications have been completed through the Second Lien Modification Program (2MP), and over 71,000 homeowners have exited their homes through a short sale or deed-in-lieu of foreclosure with assistance from the Home Affordable Alternatives Program (HAFA).

87% of eligible homeowners entering a HAMP trial modification since June 1, 2010 have received a permanent modification with an average trial period of 3.5 months.

Homeowners currently in HAMP permanent modifications with some form of principal reduction have been granted an estimated $7.2 billion in principal reduction. 81% of eligible non-GSE borrowers entering HAMP in August have received some form of principal reduction with their modification.

If you think you may qualify for a  Home Affordable Modification Program or the Hardest Hit fund, improve your chances of getting approved by letting an experienced housing counselor assist you. The service is free. You will never pay a dime for letting a HUD-approved housing counselor help you resolve your housing need. For assistance in middle Tennessee call Rod Williams 615-850-3453.

The Hardest Hit Fund is Available to Help Homeowners in 18 States and the District of Columbia

Paul O. and his wife outside their home in North Carolina.

Reposted from US Treasury

By: Mark McArdle

7/28/2011

Struggling with mortgage payments and facing the prospect of foreclosure can be overwhelming and frightening for homeowners. In 2010, the Obama Administration launched the Hardest Hit Fund to help homeowners avoid foreclosure in the areas hardest hit by steep home price declines and unemployment. Through the program, participating housing finance agencies (HFAs) in 18 states and the District of Columbia are implementing a variety of different initiatives to help homeowners struggling with their mortgage payments. All participating HFAs are now operating programs widely and offering assistance to homeowners.
The North Carolina program—the N.C. Foreclosure Prevention Fund—pays an unemployed worker’s mortgage for up to 24 months (up to $24,000) while they are enrolled in an educational or training program or are searching for a new job. In high-unemployment counties, the cap is 36 months. The funds are provided as a zero-interest loan to the homeowner, which does not have to be repaid if the homeowner continues to live in their home for 10 years. The loan can also be used by homeowners who are seeking employment because of a financial hardship such as a divorce, or who have become re-employed but need to bring their mortgage current because they fell behind during a recent period of unemployment.

Paul O. has experienced the benefit of the Hardest Hit Fund first hand. After 17 years as a shipping and warehouse supervisor for an electronics manufacturer in Winston-Salem, he was laid off in February 2010. While disappointed, Paul had peace of mind on the day he was laid off. Paul says that was because of the information he had received from the Governor’s Workforce Rapid Response Team about the N.C. Foreclosure Prevention Fund.

The Rapid Response Team offers early intervention for workers like Paul who are affected by layoffs or closures throughout North Carolina. Led by the N.C. Department of Commerce and local workforce development professionals, with funding from the U.S. Department of Labor, a Rapid Response team meets with companies planning layoffs or closures and their employees on short notice and in confidentiality. The N.C. Housing Finance Agency’s outreach teams have participated in nine rapid response deployments within the past year, providing resources and information to over 4,000 displaced workers who may be eligible for assistance. Partnerships like these allow the state to target outreach directly to individuals who are likely to be eligible for assistance.
Paul says that what he learned about the N.C. Foreclosure Prevention Fund during his Rapid Response meeting last November gave him his greatest comfort—knowing that a program was available to help him keep his home during the transition. He left that meeting with a notebook full of materials that gave him a sense of direction and hope. One of the pages he dog-eared instantly was the flier for the N.C. Foreclosure Prevention Fund.
“We don’t want homeowners to wait until they’re in foreclosure to use our loans,” said Betsy Rozakis, the Housing Finance Agency’s CFO and director of the N.C. Foreclosure Prevention Fund. “Our goal is to provide help before they’re in foreclosure, and before they have depleted their retirement savings or ruined their credit.”
Paul is now enrolled at Forsyth Community College to get an advanced certification in shipping and warehouse management that will help him become more competitive in a job market he has not had to venture into in over 17 years. Paul believes this has only been possible because of the N.C. Foreclosure Prevention Fund. The N.C. Housing Finance Agency will use loan funds to pay his mortgage and homeowner’s association dues through June 2013, while he finishes his education and seeks re-employment.
Hardest Hit Fund programs vary state to state, but may include the following:

• Mortgage payment assistance for unemployed or underemployed homeowners
• Principal reduction to help homeowners get into more affordable mortgages
• Funding to eliminate homeowners’ second lien loans
• Help for homeowners who are transitioning out of their homes and into more affordable places of residence.

Homeowners in participating states can apply for the Hardest Hit Fund through 2017, or until all program funds are allocated for homeowner assistance. For more information about the program in your state, contact your HFA directly.

Making Home Affordable Plans Nashville Event to Help Struggling Tennessee Homeowners Keep their Homes

Reposted from Treasury Notes
By: Andrea Risotto,10/19/2012

Are you a Tennessee homeowner struggling with your mortgage payments?  Would you like to understand the options available to you based on your particular circumstances?  Do you need help working with your mortgage company to apply for assistance?  If so, then we encourage you to attend the free Helpfor Homeowners Community Event at the Nashville Convention Center on Wednesday, October 24. 

At next week’s event, which is co-sponsored with the HOPE NOW Alliance, homeowners in the Nashville area will be able to meet face-to-face with 15 of the nation’s largest mortgage servicers to discuss options to make their mortgage payments more affordable. Every homeowner who attends will leave with a clearer idea of their eligibility for help and next steps.

We encourage you to attend even if you have tried unsuccessfully to work with your mortgage company in the past, particularly if you have had a change in circumstances.  Local HUD-approved housing counselors will be on-site to meet with homeowners and offer free guidance. And there are more options for assistance available today than ever before, including new opportunities for mortgage modifications, refinances and unemployment assistance.  

One of the newer programs available to homeowners in the Volunteer State is Keep My Tennessee Home.  Funded by Treasury’s HardestHit Fund, Keep My Tennessee Home offers assistance to homeowners struggling to keep up with their mortgage payments due to unemployment or a reduction in wages. This program makes payments to a homeowner’s mortgage company for up to 18 months while he or she looks for work. 

Far too often, struggling families in Tennessee and across the country tell us they were unaware of their options or too scared to reach out.  But remember that—every month—hundreds of additional Tennessee families are getting help to make their mortgage payments more affordable.  Keep My Tennessee Home is an example of one such program where agencies across the state are working together to help homeowners.

As the administrator of Keep My Tennessee Home, the Tennessee Housing Development Authority (THDA), told us, “We recently attended an outreach event in a community southeast of Nashville.  Toward the end of the evening, an adult couple timidly approached us and subsequently thanked us for helping them keep their home.  This couple was accompanied by their teenage son and daughter.  When their son realized who we were, he stuck out his hand and, shaking vigorously, thanked us very sincerely for helping his family stay in their home. All it takes is one experience like this to remind us of what this program is all about.”

Since 2009, the U.S. Department of the Treasury and the Department of Housing and Urban Development (HUD) have sponsored 77 free outreach events for struggling homeowners across the country.  Additional events are already planned for 2012 in Orlando,Florida and Ontario,California.  More information about these events and other free resources for homeowners is available on MakingHomeAffordable.gov. (end)


You can skip this outreach event and call me and I will screen you over the phone and if you qualify I will serve you.  You will save a lot of your time.  I am a HUD-approved housing counselor. There is no cost for our services.
Rod Williams 615-850-3453

NASHVILLE, TN | HELP FOR HOMEOWNERS COMMUNITY EVENT

Wednesday, October 24, 2012 | 1:00 p.m. – 8:00 p.m. ET

Nashville Convention Center

Center Exhibit Hall

601Commerce Street, Nashville, TN 37203

Click for Event Brochure

Learn about the Making Home Affordable Programs

You can skip this event and come directly to me and I will evaluate you for all of the work-out options. If you are not eligible, I will tell you.  If you are eligible or potentially eligible I will tell you how to improve your chances of getting a workout. I can help you assemble  your work-out package. If you are eligible for the Hardest Hit program, I will serve as your counselor and process your application. There is no charge for our service.


Rod Williams
Senior Housing Counselor
Woodbine Community Organization
222 Oriel Ave., Nashville, TN 37210
Work phone #: 615-850-3453
FAX: 615-833-9727
web site: Woodbinecommunity.org

From the Desk of HUD Secretary Donovan: A Proven Tool to Fight Foreclosures

As every member of the HUD family knows, over the last three years we've come a long way in pushing back against the foreclosure crisis.

Foreclosure notices have been cut in half since President Obama took office - and nearly 6 million families have received mortgage modifications that have helped them stay in their homes.

I'm proud of the progress we've been able to make so far for those families. And I know that it would not have been possible without the dedication and expertise of housing counselors we fund in communities across the country.

Over the last three years, HUD-approved housing counselors have assisted 8 million families - one reason last month, the Obama Administration honored our nation's housing counselors in Los Angeles as part of the White House Champions of Change initiative.

And the results these men and women have achieved is undeniable. Indeed, a recent study found that 9-in-10 families who received foreclosure counseling from HUD-approved counselors continued to live in their homes 18 months later.

As impressive as those results are, we shouldn't be surprised. Distressed homeowners are nearly twice as likely to receive a modification on their mortgage if they are working with a housing counselor. And as the Urban Institute recently demonstrated, borrowers in foreclosure were 70 percent more likely to get up to date on payments if they received counseling.

Quite simply, housing counseling works.

With our extraordinary record of success, like many of you, I was disappointed when Congress eliminated funding for HUD's housing counseling grants in Fiscal Year 2011. But we didn't sit on our hands - instead, we built a case that HUD-funded housing counseling is a critical tool in our work to not only fight foreclosures, but support the recovery of our housing market more broadly.

Indeed, while the National Foreclosure Mitigation Counseling funds administered by our partners at NeighborWorks America are essential to our ability to assist homeowners in acute distress, HUD funds support the entire range of counseling and training necessary to ensure people make good, responsible choices that work for families in their communities - whether it's buying or renting, improving financial literacy, protecting families' rights against discrimination, or even preventing homelessness.

That's the case we made to Congress - and because we did, last month HUD was able to announce more than $42 million in housing counseling grants to 468 organizations in communities across the country that prevent foreclosures and help families find decent housing.

I'm proud we were able to partially restore our housing counseling funding. But I'm even prouder that we were able to cut the time it took to get these funds on the street by nearly 70 percent compared to 2010. And I expect that progress to continue once Congress approves our plan to establish the Office of Housing Counseling within HUD.

Even still, we know the housing market is still fragile, and that homeowners need all the help they can get. That's why the $2.6 billion provided to states as part of the recent $25 billion mortgage servicing settlement with the five largest servicers is so important. These dollars can be used for foreclosure prevention efforts that include housing counseling - and already, we've seen state attorneys general from both parties commit to using these funds to help homeowners. Indeed, while needs and requirements vary from state to state, at meetings with stakeholders and attorneys general around the country, I am encouraging our state attorneys general to direct settlement funds towards helping homeowners.

At a time when our economy is growing and our housing market is showing signs of strength, we know there is no better way of accelerating that progress than speeding help to homeowners. That's what housing counseling is about - and ensuring it helps as many families as possible, in as many communities as possible, is our shared challenge in the months ahead.

Call me. I can help you save your home. No charge for my services. 

Rod Williams
Senior Housing Counselor
Woodbine Community Organization

Work phone #: 615-850-3453
FAX: 615-833-9727
web site: Woodbinecommunity.org

Lawsuit Settlement Could Save Homes From Foreclosure

Lawsuit Settlement Could Save Homes From Foreclosure: In a huge settlement against major banks, Tennessee stands to get $141 million to help save thousands of homes from foreclosure.

How Harest hit saves Phyllis Qualls-Brooks home

by Marcus Washington, News Channel 5


NASHVILLE, Tenn. - In a huge settlement against major banks, Tennessee stands to get $141 million  to help save thousands of homes from foreclosure.

Phyllis Qualls-Brooks walks the path many Tennesseans have traveled in this rocky economic downturn.
"Because of budget cuts my position was eliminated," said Qualls-Brooks.

Without a job she could not pay her mortgage, so she turned to a program she heard about through the Tennessee Housing Development Agency, THDA, called the "Hardest Hit Fund."
"I finished the application process; I was approved. That day was a wonderful day in my life," said Qualls-Brooks. (link)

I was Phyllis Qualls-Brooks housing counselor and helped her get qualified for the Hardest Hit Fund. Call me, I may be able to help you. There is no charge for my service.

Rod Williams
Senior Housing Counselor
Woodbine Community Organization

Work phone #: 615-850-3453
FAX: 615-833-9727
web site: Woodbinecommunity.org

Don't Lose Your Tennessee Home to Foreclosure: Obama urges Congress to fix housing problem, tax b...

Don't Lose Your Tennessee Home to Foreclosure: Obama urges Congress to fix housing problem, tax b...: Obama urges Congress to fix housing problem, tax banks - Washington Times

Get Taxes Done Free at Woodbine

Woodbine Community Organization is once again working with NAFI - Nashville Alliance for Financial Independence and the United Way of Metro Nashville To host VITA - Volunteer Income Tax Assistance.

Preparation is FREE to individuals and families who earned less that $49,000 in 2011. Taxes are prepared on a first come first serve basis starting January23 through April 17.
Monday: 9am-1pm and 5pm  - 8pm
Tuesday: 5pm to 8pm
Wednesday: 9am - 1pm and 5pm - 8pm
Thursday: 5pm - 8pm
Friday: 9am to 1pm
Saturday: 9am - 3pm
Sunday: Closed

Please bring the following to the tax site: (1) proof of identity (2) Copies of ALL W-2, 1089, 1099 forms (3) Social Security Card(s) or Individual Tax Identification Number card for ALL individuals listed on Tax return (4) Banking Information (checking and/or savings deposit slip) for direct deposit process (5) If e-filing a joint return, BOTH spouses MUST be present to sign return (6) Amounts/Dates of estimated or other tax payments made, etc. (7) Child care provider Identification Number (8) Amounts of other Income.

Don't Lose your Home due to Delinquent Taxes

by Rod Williams

Often people who are behind on their mortgage are also behind on paying their taxes if the taxes are not escrowed. You do not want to lose your home due to unpaid taxes. Here is how the payment of property taxes works.

Taxes are due in arrears. That means, you are not paying your taxes for the upcoming year but for the year just past. The tax year is the calendar year. The tax bill for 20011 is mailed out in October 20011 and are due by February 29, 2012. After that date a penalty of 1 ½ % interests is added. The Trustee’s office holds the tax bills until March 1, 2013. Up until that time, the taxpayer, may go to the Trustees office and pay the taxes and the accumulated interest. After that March 1 date the tax delinquency is referred to Chancery Court. The Clerk and Masters office handles the taxes at this point. Metro will have filed a legal action to sell the property for back taxes prior to that March 1 date.

On March 1st, the Clerk and Masters Office will send out a notice to delinquent property owners saying they have 30 days to pay the delinquent tax lien or it will be sold. THE TAXPAYER MAY PAY THE AMOUNT OWED anytime before the sale and the lawsuit will be dismissed. (Cashier's Check). After the March 1 2013 date, additional court cost and legal fees are added. There is a title search that has to be done and other legal procedures prior to the Sale. So the first time it would be sold is June, 2013, but it could be later. There is usually one sale per month from June to December. The sales are advertised in our daily paper, THE TENNESSEAN, approximately twenty (20) days prior to the auction.

The owner may redeem the property up to a year after it is sold for back taxes but there is an additional fee of 10% per year to redeem it. Also, the person redeeming his home may have to make payments to the buyer for cost incurred.

The tax lien is the first place lien on a property, meaning the city gets their money before any goes to a mortgage company, so if a client is late on their taxes, the mortgage company would rather pay the taxes than let the property get sold in a tax sale. If a property is foreclosed upon, the mortgage company would have to pay the taxes anyway. If there is a mortgage on the property and it is sold at a tax sale, the mortgage company is the likely buyer, but the owner would have a year to redeem it. So, the mortgage company would rather pay the taxes for the homeowner, which they may do, and then foreclose rather than purchase it at the tax sale.

Few people who have a mortgage on a property lose the property due to a tax sale. The situation as described above is what usually happens.

I know of no agency that will help you pay your property tax bill. One of the requirements for the Hardest Hit Fund in Tennessee is that taxes and insurance be escrowed. However, if one otherwise qualifies, it is often possible to set up an escrow account at the Hardest Hit closing.

For more information call me, Rod Williams, 850-3453. There is never a cost for my services.

Don't watch this video

This is a video about short sells. Sometimes short sells are an option for avoiding foreclosure but they are the last option, not the first option. There is no need to watch this video or even consider a short sell unless you have explored all of your other option.

There is a great program funded by the the US government and administered by the Tennessee Housing and Development Agency (THDA) called "Hardest Hit Fund."  The agency I work for is a partnering agency with THDA and I am the agencies Senior Housing Counselor. This program can pay your arrearage and make your payments for a period of time. This program may give you up to $20000- money that never has to be paid back. You do not pay any fee for my services or any application fees. This is a free program.

To learn more, Call Me 

Rod Williams (615) 850-3453