Resources
BROWARD COUNTY
Broward County Foreclosure Prevention Program is a program that was designed to help people either avoid or stop a foreclosure, and to help them preserve the affordable housing stock of Broward County for single family home owners. The program will be able to provide a deferred payment loan (meaning it does not immediately need to be repaid) to pay defaulted mortgages where the home owner is in default at least thirty (30) days. To apply or learn more, dial Broward County Housing Authority at 954-497-4583.
Broward County Housing Authority, which is located at 4780 North State Road 7. The Main Office in Lauderdale Lakes and can be called at 954-497-4583. Some of the services offered include Mortgage Delinquency, Foreclosure Prevention Counseling, Support for Predatory Lending and Home Loans, Default Resolution Counseling, Home Equity Conversion Mortgage Counseling, Renters Assistance, and Loss Mitigation
Neighborhood Housing Services of South Florida, Inc. is located in Fort Lauderdale. Call 954-564-4037. Programs include Loss Mitigation, Home Loan Delinquency and Default Resolution Counseling, Home Improvement and Rehabilitation Counseling, Outreach and Free Counseling.
Broward County Foreclosure Mediation Program
A new mediation program was created by Broward County Florida. The goal is to ensure that both homeowners and their lenders have a forum to communicate face to face, and a mediator will help in the process to try to find a solution that works for both parties.
The new foreclosure mediation program is the result of a study that was conducted by the Florida Supreme Court. The study was undertaken to try to find ways to lower the number of foreclosure cases in the state, and to try to find solutions to the foreclosure crisis plaguing Florida.
The Chief Judge of Broward County created the program. The goal is that the mortgage lender, meeting together with the homeowner at a neutral location, can sit down with a neutral third party, that being the mediator, to discuss all options and to ideally work out the loan modification or some type of solution, along with a payment schedule that ensures long term success.
How does the Broward County Foreclosure Mediation Program work?
The details include the following. The mediation program will work like this. Once a foreclosure case is filed by the lender, the case will be referred to a housing counselor or a case manager from the company handling the mediation program. That non-profit company is part of the American Arbitration Association. During the process the homeowner will also be notified and, if the borrower does agree to a free mediation session, the homeowner will need to undergo a credit counseling session. As that is ongoing, the bank and the homeowner will begin the process of trying to work out a resolution, which could mean reducing the interest rate, a loan modification, or reducing principal, or even letting go of the home if there is no hope of finding a way to save the homeowner. There is no guarantee each case will come to a resolution.
The medication process will also in effect allow the family to stay in the home longer, as the process from start to finish is expected to take 4 months. The cost of the foreclosure mediation sessions — which could cost up to $750 — will be paid directly by the bank that files the foreclosure action and their is no cost to the borrower.
Is the program successful?
While results of course will vary, the data shows it can be very helpful. The Senior Vice President of American Arbitration Association has said that they have seen success rates of 50-60% when lenders and homeowners get together into the same room and communicate to try to work out a solution to a foreclosure. And a formal mediation program and structure should only help to increase that rate.
Local Broward County Housing counselors and foreclosure defense attorneys believe that the mediation program will help homeowners that are facing foreclosure, however much of that depends on the banks and lenders.
Many believe that as a result of mediation, lenders are more likely to do things like reduce the interest rate, change the principal, and address large past due balances that may be on homeowners mortgages. So if you are facing a foreclosure, you should get contacted by the American Arbitration Association. Or feel free to call them at 800-218-5524, or ask your lender about the mediation program.
Broward County Foreclosure Mediation Program
A new mediation program was created by Broward County Florida. The goal is to ensure that both homeowners and their lenders have a forum to communicate face to face, and a mediator will help in the process to try to find a solution that works for both parties.
The new foreclosure mediation program is the result of a study that was conducted by the Florida Supreme Court. The study was undertaken to try to find ways to lower the number of foreclosure cases in the state, and to try to find solutions to the foreclosure crisis plaguing Florida.
The Chief Judge of Broward County created the program. The goal is that the mortgage lender, meeting together with the homeowner at a neutral location, can sit down with a neutral third party, that being the mediator, to discuss all options and to ideally work out the loan modification or some type of solution, along with a payment schedule that ensures long term success.
How does the Broward County Foreclosure Mediation Program work?
The details include the following. The mediation program will work like this. Once a foreclosure case is filed by the lender, the case will be referred to a housing counselor or a case manager from the company handling the mediation program. That non-profit company is part of the American Arbitration Association. During the process the homeowner will also be notified and, if the borrower does agree to a free mediation session, the homeowner will need to undergo a credit counseling session. As that is ongoing, the bank and the homeowner will begin the process of trying to work out a resolution, which could mean reducing the interest rate, a loan modification, or reducing principal, or even letting go of the home if there is no hope of finding a way to save the homeowner. There is no guarantee each case will come to a resolution.
The medication process will also in effect allow the family to stay in the home longer, as the process from start to finish is expected to take 4 months. The cost of the foreclosure mediation sessions — which could cost up to $750 — will be paid directly by the bank that files the foreclosure action and their is no cost to the borrower.
Is the program successful?
While results of course will vary, the data shows it can be very helpful. The Senior Vice President of American Arbitration Association has said that they have seen success rates of 50-60% when lenders and homeowners get together into the same room and communicate to try to work out a solution to a foreclosure. And a formal mediation program and structure should only help to increase that rate.
Local Broward County Housing counselors and foreclosure defense attorneys believe that the mediation program will help homeowners that are facing foreclosure, however much of that depends on the banks and lenders.
Many believe that as a result of mediation, lenders are more likely to do things like reduce the interest rate, change the principal, and address large past due balances that may be on homeowners mortgages. So if you are facing a foreclosure, you should get contacted by the American Arbitration Association. Or feel free to call them at 800-218-5524, or ask your lender about the mediation program.
MIAMI DADE COUNTY
Miami-Dade County mortgage help
Low income homeowners in Miami may be able to receive cash grants of up to $7500 to help them pay their mortgage and the funds can be used to prevent a foreclosure. The City of Miami created the Foreclosure Prevention Program to help people who have faced a significant and unexpected loss of income remain in their homes.
The primary goal of this Miami mortgage assistance program is to help families and individuals avoid homelessness. The money from the city can help people get back on track with their home loan payments and avoid foreclosure. The funds are often combined with counseling and other support, such as budgeting classes.
As resources allow, the City of Miami’s Foreclosure Prevention Program may be able to provide financial assistance and cash grants of up to $7,500 to low income and other eligible homeowners who are facing foreclosure. The program has many components and will work by paying delinquent mortgage payments to assist homeowners in Miami Florida with bringing their mortgage current.
The program is flexible. Funds and grants may be available to pay late fees, property taxes, attorney’s fees, homeowners’ association payments, special assessments assessed by the lender or the city, home insurance expenses and other foreclosure associated costs.
There are several conditions that of course need to be met, as the program is not a charity program. Some of the criteria include the following.
- The homeowner needs to prove that the mortgage delinquency and the reason they are behind on their payments is due to a significant loss of household income that was experienced by the borrower. The reduction of income can be caused by various reasons, including loss of employment, a medical emergency that caused sudden medical illness or expenses, death in the family, divorce or separation, predatory lending practices and / or unforeseen / unexpected / or unanticipated home repairs and maintenance.
- The applicant must be able to demonstrate the ability to make future mortgage payments after assistance is received and they need to be provided and agreed to stay on a revised monthly budget.
- The home must be a single family residence, owner-occupied and have a homestead exemption and of course it needs to be located in the city of Miami Florida.
- The homeowner who applies to the Foreclosure Prevention Program must agree to undergo counseling and register for workshops. The sessions will give free advice on foreclosure prevention and there is also debt counseling from a HUD-certified Counseling Agency that is located in the region.
- Interested borrowers can pick up an application for the Foreclosure Prevention Program at the Department of Community Development. Or, if more convenient to them, they can also pick up an application at any of the City of Miami’s Neighborhood Enhancement Team (NET) locations.
The local government working with the Miami-Dade Circuit Court is moving ahead with mortgage assistance plans that will require mediation between lenders and borrowers before the foreclosure process can proceed. This is in addition to other state regulations in Florida.
Another program in Miami can provide cash grants of up to $7500 to income qualified homeowners to help them pay their mortgage and prevent a foreclosure.
PALM BEACH COUNTY
Palm Beach County foreclosure assistance center
A nationally recognized mortgage and foreclosure assistance program. The center is focused on providing immediate assistance to families in need in Palm Beach County Florida. Some of the aid they provide includes a direct payment to the mortgagee of $10,000, they will help unemployed find jobs, negotiate existing mortgages to try to refinance them, and more. 561-822-1575
Urban League Of Palm Beach County
Can help with immediate housing assistance if you are about to be out of your home after foreclosure.
