Home Loan Mortgagers :: Twin Cities Mortgage
Twin Cities Mortgage: Understanding the Mortgage Foreclosure Prevention Program in the Twin Cities
The Twin Cities Mortgage Foreclosure Prevention Program is a concerted effort by the cities of Minneapolis and Saint Paul along with the Minnesota Foreclosure Partners Closure to prevent and stop foreclosures. This program works to prevent foreclosures at three stages – pre-purchase, after-purchase and during the remediation or negotiation process with the lender. For more information on how this program can help you prevent a foreclosure, keep reading.
Pre-Purchase Prevention
In partnership with this Twin Cities Mortgage Foreclosure Prevention Program, the Minnesota Home Ownership Center is offering potential home buyers free education and real estate counseling. By visiting their website at http://www.hocmn.org/, you can access free home buyer workshops, home ownership counseling, and other free special events.
After-Purchase Help
Thanks to this remarkable Twin Cities Mortgage help initiative, the city of Minneapolis has started an easy help line for people facing the possibility of foreclosure. Simply dial 311 from anywhere in the Twin Cities area to get access to the Minnesota Home Ownership Center and the Twin Cities Habitat for Humanity.
Both organizations can offer counseling to homeowners who are at risk of foreclosure, help with mortgage payments or direct you towards funding programs designed to help at-risk-homeowners.
Remediation Assistance
Through the Twin Cities Mortgage Foreclosure Prevention Program, homeowners can also access mediation services for negotiating foreclosure processes, alternative payment schemes, refinancing and short sale arrangements.
In addition to assisting homeowners directly, the Minneapolis program also investigates suspicious real estate and mortgage practices, prevent mortgage fraud, revitalize areas that are hardest hit by foreclosures and financial hardship. In conjunction with the Minnesota Housing Finance Agency, they will also buy and rehabilitate vacant homes for resell at affordable and subsidized prices.
Whether you're in danger of foreclosure or simply buying a home and looking for free financial advice, the Twin Cities Mortgage Foreclosure Prevention Program can help. Homeowners and prospective home buyers can either dial 311 from a local phone or visit the city's mortgage and foreclosure website at http://www.ci.minneapolis.mn.us/foreclosure/.
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