The resources for this topic can be found below. To view all of our available Resource Banks, click here.
Wednesday, December 12, 2012
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.
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 firstname.lastname@example.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.
- 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.
- How to Avoid Foreclosure:
This document 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.
- Facing the Mortgage Crisis: Stopping Scams:
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.
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.