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The resources for this topic can be found below. To view all of our available Resource Banks, click here.
I. Overview
As part of the CDFI Fund’s Foreclosure Solutions training series, NeighborWorks®
America emphasized four courses in its Training Institute:
- Webinars supplemented this learning and focused on topics that
enhance foreclosure intervention counseling activities.
Additional courses that CDFIs interested in learning about foreclosure solutions
may find useful include:
- NeighborWorks® Training Institute:
Offered in different markets four times per year, the Training Institutes bring
hundreds of substantive, in-depth courses to thousands of community development
and affordable housing practitioners annually. Many courses qualify participants
for professional certifications in homeownership education and counseling.
- NFMC Foreclosure Counseling Training Program:
As part of the National Foreclosure Mitigation Counseling Program (NFMC), NeighborWorks®
America and the NeighborWorks® Center for Homeownership Education and Counseling
(NCHEC) are offering homeownership educators and counselors scholarships from 501(c)(3)
organizations to attend foreclosure intervention and default counseling training.
- NCHEC/HUD Training Program:
Open to HUD-approved housing counseling agencies, this program provides training
scholarships for NeighborWorks® Training Institutes and regional place-based trainings.
Course topics include pre- and post-purchase homeownership counseling techniques,
credit counseling and foreclosure and loss mitigation counseling.
- The Foreclosure Intervention and Default Counseling Certification:
This professional certification demonstrates a thorough understanding of foreclosure-related
topical areas to ensure that counselors are prepared to deliver these specialized
services. This certification is recommended for those counselors with at least one
year of experience in loss mitigation and/or default counseling. New courses include
those designed to help practitioners navigate public programs such as HUD's Emergency
Homeowner Loan Program (EHLP) and Making Home Affordable: A Breakdown of Program
Components. Scholarships are available to all qualifying applicants.
- National Industry Standards for Homeownership Education and Counseling
The National Industry Standards for Homeownership Education and Counseling provide
guidance to organizations and counselors that offer homeownership education, homeownership
counseling, and foreclosure intervention counseling services to consumers. See their
34-page guide on standards for homeownership counseling, pre- and post-purchase
homeownership education, and foreclosure intervention counseling.
- eLearning
As part of the CDFI Fund Capacity Building Initiative - Foreclosure Intervention
Solutions program, nonprofit CDFIs are eligible to take these e-Learning courses
at NO COST. To request a scholarship code that enables you to take each course,
please email nchec@nw.org with “CDFI Fund Capacity
Building” in the subject line and your name, contact information, organization,
and reason for wanting to take the course. Within two business days, a customer
service representative will email you the complimentary course code you’ll need
to register for each course. Please note: these courses are available free of cost
for a limited time only and this offer may be canceled without notice.
- HO109el Foreclosure Basics: One of our most popular and timely
classroom courses, Foreclosure Basics is also available in a convenient and cost-effective
online version.
- HO322el Counseling Buyers of REO Properties: This course begins
with an organizational self-assessment that offers an initial examination of the
overall status of your foreclosure intervention program. Next, it explores common
themes and lessons learned from a wide variety of programs from around the country.
Using these examples, this course provides practical instruction on how to begin
implementing improvements based on effective foreclosure intervention practices.
- HO346el Understanding and Applying Foreclosure Intervention and
Loss Mitigation Tools:
Seasoned foreclosure counselors can explore a wide variety of intervention options
available to homeowners in distress by taking this online learning course.
II. Funding for Foreclosure Counseling
- National Foreclosure Mitigation Counseling (NFMC) Program
The
$475-million NFMC program was launched in December 2007 with funds appropriated
by Congress to increase the availability of foreclosure counseling services across
the country. Grants are being made to fund foreclosure counseling and legal assistance
to homeowners, as well as to train foreclosure counselors.
- NeighborWorks® Center for Foreclosure Solutions
The NeighborWorks®
Center for Foreclosure Solutions was created to preserve homeownership and healthy
neighborhoods in the face of rising foreclosure rates. NeighborWorks® offers training
courses and resources for foreclosure mitigation counselors, conducts public outreach
campaigns to reach struggling homeowners, and works with local leaders to create
sustainable foreclosure intervention programs.
- Emergency Homeowners' Loan Program
The Emergency Homeowners’
Loan Program is a program from HUD that provides mortgage payment assistance to
eligible homeowners experiencing a drop in income of at least 15 percent, directly
resulting from involuntary unemployment or underemployment due to the economy and/or
a medical condition. The mortgage assistance covers past-due mortgage payments,
as well as a portion of the homeowner’s mortgage payment for up to 24 months (up
to $50,000). The program is offered in the following states: Alaska, Arkansas, Colorado,
Hawaii, Iowa, Kansas, Louisiana, Maine, Massachusetts, Minnesota, Missouri, Montana,
Nebraska, New Hampshire, New Mexico, New York, North Dakota, Oklahoma, South Dakota,
Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.
EHLP is also offered in Puerto Rico. To find out more, visit HUD's EHLP website
III. National Program Resources
- Foreclosure Help for Homeowners
For CDFIs assisting homeowners that have difficulty paying their mortgage or who
know they will have difficulty doing so in the near future, NeighborWorks® America
has a consumer website which includes information and links to
agencies that can help guide homeowners out of foreclosure.
- Loan Modification Scam Alert
With the national foreclosure rate persistently high, many homeowners have turned
to loan modification or foreclosure "rescue" companies for help – only to realize
they've been scammed.
- Community Stabilization
NeighborWorks® America developed an online information hub, www.stablecommunities.org , for nonprofit organizations
and their public and private partners working together to stabilize their communities
in the wake of the foreclosure crisis. Data is also now available at the zip code
level to help states and localities identify the relative need of different neighborhoods
for neighborhood stabilization assistance. To use this tool, go to Foreclosure-Response.org.
- Making Home Affordable Program The Homeowner Affordability and
Stability Plan (HASP) could help up to 9 million families restructure or refinance
their mortgages to avoid foreclosure. This service is provided at a low cost or
free of charge by nonprofit housing counseling agencies working in partnership with
the Federal Government.
- National Foundation for Credit Counseling (NFCC)
NFCC promotes financially responsible behavior. Its members offer financial education
and counseling services.
- Money Management International (MMI)
MMI is a full-service credit counseling agency that helps consumers find the tools
and solutions they need to achieve financial freedom.
IV. Consumer-Focused Resources
- HUD Resources
Information on how to find a local housing counseling organization, how to talk
to lenders, and what local and state resources are out there is available on HUD's "Avoiding Foreclosure" webpage.
- NeighborWorks® Links and Resources
Information on finding the right organization to help, how to avoid scams, and other
useful resources can be found at NeighborWorks® America's Foreclosure help for consumers.
- Facing the Mortgage Crisis: Stopping Scams:
In this video developed by NeighborWorks® America and the Texas Foreclosure Prevention
Task Force, experts share their knowledge about scams and how to avoid falling prey.
- What to Do When Facing Foreclosure:
In this video developed by NeighborWorks® America and the Texas Foreclosure Prevention
Task Force, experts share their knowledge about scams and how to avoid falling prey.
- How to Avoid Foreclosure:
This video focuses on tips to strengthen your resistance to foreclosure during tough
economic times.
- Talk to the Right People:
With the Ad Council and the Homeownership Preservation Foundation, NeighborWorks®
America created :30 and :60 second TV Public Service Announcements (PSA) in English
and Spanish.
V. Research, Articles, and Conferences
- Tangible Benefits to National Foreclosure Mitigation Counseling (NFMC) Program
NeighborWorks® America announced findings in a 2010 report by the Urban Institute
that the odds of curing a foreclosure, and potentially avoiding losing a home, are
1.7 times better for a homeowner who works with an NFMC counselor than for a homeowner
who doesn’t receive such counseling. In addition, homeowners who obtain a mortgage
modification through the NFMC program’s counseling save an average of $555 per month
through lower payments, compared to savings of just $288 per month for homeowners
who don’t work with an NFMC program counselor. Read the full report on the value of the NFMC program.
- Housing Counselors Feeling Squeezed:
Nonprofit housing counselors in Arizona are on the frontlines trying to help struggling
homeowners.
The compilation of these documents was funded by the CDFI Fund, under Contract TPD-CDF-10-C-0003,
Task Order 0001. The curriculum and opinions expressed in these documents are those
of the authors, who are solely responsible for the content, and do not reflect the
opinions of the CDFI Fund or any other person, entity, or organization. The CDFI
Fund is not responsible for the maintenance of any content found on external websites.
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