Foreclosure Intervention
HDF’s foreclosure intervention program is an effective solution for borrowers at risk of foreclosure or with an unaffordable mortgage. HDF will try to help homeowners who are eligible for our program find solutions. You should consider all options while you are working with us. If you believe you are harassed by debt collectors or that the debt collector is engaging in illegal or unethical activities, you should contact the Federal Trade Commission at 1-877-FTC-HELP.
If you are in arrears on your mortgage loan, HDF’s Foreclosure Intervention Specialist may be able to assist you with your lender. We are here to help you in working out a resolution with your lenders. Contact us at 203-969-1830, ext. 31 Monday – Friday between 9am – 5pm or e-mail us at foreclosure@hdf-ct.org.
Foreclosure Intervention Clinics
The next Foreclosure Intervention Clinic will be held on June 12, 2013
From 6pm to 8pm on the second Wednesday of each month HDF hosts a foreclosure intervention clinic in our Bridgeport office. Todd Fagan, our Foreclosure Intervention Specialist leads these sessions, and experts discuss best practices and ways to help save your home.
Before attending the clinic, call (203) 338-9035 ext. 0 to RSVP.
Regular participants on our panel include:
- An Attorney
- An Insurance Professional
- A Realtor
- Representatives from community agencies such as Co-Opportunity, FSW, and The Workplace
- A Congressional Representative
Info on Short Sales
A short sale is a real estate transaction in which you sell your house and your mortgage lender agrees to accept a price less than what you owe on your mortgage. In other words, your mortgage is “upside down” or “underwater” and your house cannot be sold for what you owe. Short sale is not the answer for every homeowner, but if you would like to lean more about short sales, you can download a sheet of FAQs (frequently asked questions) compiled by the CT Fair Housing Center here:(English or Spanish)
Emergency Mortgage Assistance Program (EMAP)
The Housing Development Fund is one of the HUD-approved counseling agencies selected by Connecticut Housing Finance Authority (CHFA) for the Emergency Mortgage Assistance Program. The Emergency Mortgage Assistance Program (EMAP) provides temporary monthly mortgage payment assistance for up to five years to eligible Connecticut homeowners who are facing foreclosure due to a financial hardship. An EMAP loan is secured by a fixed-rate, subordinate mortgage on the homeowner’s residence.
Only homeowners who’s primary mortgage is not insured by the Federal Housing Administration (FHA) are eligible for this program. It is important to note that EMAP loans must be repaid and funding is limited. The repayment of an EMAP mortgage starts when the homeowner’s financial condition sufficiently improves. Homeowners who believe they might be eligible for an EMAP loan should apply directly to CHFA. (Visit CHFA’s EMAP page for information on how to apply.)
