Litchfield Board News
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Online Continuing Education

 

FINANCIAL MANAGEMENT & FORECLOSURE
 RESOURCES

 

Avoiding Foreclosure - This page on the State Connecticut Department of Banking website discusses how to avoid foreclosure and includes resources regarding foreclosures.

Department of Banking Foreclosure Hotline:   (877) 472-8313

Best Practices for New Owners after Foreclosure  - This article on the Real Estate Commission's website provides a basic summary of the laws regarding tenants' rights in Connecticut after a foreclosure, as well as recommendations for how owners, mortgage loan servicers, and REO property managers should interact with tenants after a foreclosure.

Center for Responsible Lending - This website The Center for Responsible Lending is a nonprofit, nonpartisan research and policy organization dedicated to protecting homeownership and family wealth by working to eliminate abusive financial practices. Their site contains information regarding, mortgage lending, payday lending, overdraft loans, credit cards, other consumer loans, tools & resources, etc.

Connecticut Foreclosure Assistance Hotline - This press release from Connecticut Governor M. Jodi Rell announces the establishment of a Mortgage Foreclosure Assistance Hotline.  Connecticut’s residents who are facing foreclosure on their homes may call (877) 472-8313 toll-free and receive advice and guidance regarding their mortgage problems.

Connecticut Housing Finance Authority - This website contains information regarding Homebuyer Programs, Tax Credit Programs, Elderly Programs, Foreclosure Assistance programs, Rental Programs, etc.  Over-the-phone assistance and referrals from CHFA are also available. Dial 860-571-3500 to speak with an operator who can help.

Connecticut Law About ForeclosureThis page of the Connecticut Judicial Branch Law Libraries contains various links to resources regarding foreclosure. 

Connecticut Landlord/Tenant Law - This page of the Connecticut Judicial Branch Law Libraries contains various links to resources regarding Landlord/Tenant rights and responsibilities, publications and a Foreclosure Advice Table Schedule.

Connecticut Legal Services: (Cheryl Diane Feuerman): (860) 456-7420

Connecticut Network for Legal Aid - People with very low income may qualify for free legal services. Call toll-free 1-800-453-3320 or 1-860-344-0380 from Middletown and Hartford to learn more or visit their website.

Emergency Mortgage Assistance Program - The Emergency Mortgage Assistance Program (EMAP) is administered by the CT Housing Finance Authority, for more information view their webpage. 

Federal Trade Commission Online Video - The Federal Trade Commission (FTC) produced this video entitled "Real People Real Stories" that features the stories of real people taking action to save their homes. Through this video, homeowners can learn the signs of a foreclosure rescue scam and where to go to get free help.

FinancialStability.gov - Visit this website for information to learn about the new programs recently announced from the Administration.

Foreclosure Guide for Homeowners - This link will open a guide written by  The CT Fair Housing Center titled "Representing Yourself in Foreclosure: A Guide for Connecticut Homeowners," the guide is designed to help owners who live in and own a one- to four-family home who are behind on their mortgage payments or who have already received papers from a court because a foreclosure action has been filed against them. 

Foreclosure Prevention Help From Attorneys - The Connecticut Fair Housing Center's pro bono network of attorneys is accepting referrals.  If you have clients who are delinquent on their mortgage payments or who have received a foreclosure notice, they can call Statewide Legal Services at 1-800-453-3320.  The Center and Statewide Legal Services will find these clients attorneys who will provide legal assistance free of charge.  

Foreclosure Prevention Clinic - To learn about your rights in the foreclosure legal process you may attend a FREE Foreclosure Prevention Clinic  presented by the CT Fair Housing Center and the  University of Hartford Paralegal Program every 3rd Tuesday of the month.  For more information including how to preregister, click here.

Foreclosure-Response.org Foreclosure-Response is an online guide to foreclosure prevention and neighborhood stabilization. 

HELP FOR MILITARY FAMILIES FORCED TO SELL AT A LOSS - The massive economic rescue bill enacted includes a provision to help military families forced by deployment or other eligible circumstances to sell their houses at a loss in today's down market. Under the provision, the federal government will cover 95 percent of a loss. The law applies to service members with mortgages entered into before July 1, 2006. An online resource from the U.S. Department of Defense can help your members learn if their client is eligible for the assistance. For more info contact Megan Booth, 202/383-1222.

Hope Now - is an alliance between counselors, mortgage companies, investors, and other mortgage market participants. This alliance will maximize outreach efforts to homeowners in distress to help them stay in their homes and will create a unified, coordinated plan to reach and help as many homeowners as possible. The members of this alliance recognize that by working together, they will be more effective than by working independently. You may also contact their organization by calling 1-888-995-HOPE.

Housing Education Resource Center - HERC offers several public services including foreclosure prevention counseling. 

HUD's Settlement Cost Booklets - This booklet will help you become familiar with how interest rates, points, balloon payments, and prepayments penalties can affect your monthly mortgage payments. In addition there is important information about your loan after settlement, including how to resolve loan servicing problems with your lender, and steps you can take to avoid foreclosure.

Internal Revenue Service  - This page on their website includes questions and answers regarding home foreclosure and debt cancellation.

Partnership for Strong Communities -  This page on their website contains resources for borrowers in danger of foreclosure.

Making Home Affordable - Visit this website for information regarding the Making Home Affordable Program  February President Obama announced in February or call 888-995-4673. The program is designed to help up to 7-9 million families avoid foreclosure by restructuring or refinancing their mortgages. 

Money Matters - The website run by the Federal Trade Commission has information regarding foreclosure scams, reverse mortgages, mortgage services, mortgage payments, credit cards, managing your money, dealing with debt, etc. 

National Association of REALTORS  - Visit this page of their website for numerous resources regarding foreclosure including the HOPE Hotline number, tips on how to avoid foreclosure, foreclosure programs by state, information regarding credit card counseling and smart financing and much, much more.

NeighborWorks America Foreclosure Resources - Neighbor Works America and its network of 240 local organizations have been at the forefront of efforts to preserve homeownership and sustain communities in the face of rising foreclosures. We not only provide training for foreclosure counseling services, but also have formed strong alliances with private- and public sector partners to help prevent foreclosures.

Self-Help.org - Self-Help is a community development lender and real estate developer that works with individuals, organizations and communities traditionally underserved by conventional markets. The funds that support their work come from deposits, grants, and other investments made by individuals and institutions across the U.S. 

State of Connecticut Department of Banking -  On this website you can verify licenses, search for a bank or credit union, find banking, securities and related statutes and regulations and find information regarding filing a complaint, etc.

Tenants Caught Up in Landlord Foreclosure - Read this article provided courtesy of the Connecticut Association of REALTORS® to learn about what happens to a tenant when the landlord is going through a foreclosure process.

U.S. Department of Housing and Urban Development - This page on HUD's website has information regarding avoiding foreclosure in Connecticut.