Frequently Asked Foreclosure Questions

Overview

Q: I am worried about losing my home.  Can you help me keep it?

A: Every individual’s or family’s situation is unique. The Homeownership Support Program’s housing counselors will evaluate each case in context with the homeowner in one-on-one counseling sessions. Ultimately, much of the decision of whether a homeowner is able to stay in their home will rest with the servicer or lender. While there is no way to guarantee a desired outcome, with the information, guidance, counseling, resources and advocacy support that housing counselors provide, homeowners are more likely to achieve a viable workout option with their servicer or lender.

Q: How effective is Foreclosure Prevention Counseling?

A: A national evaluation of foreclosure prevention counseling provided through the National Foreclosure Mitigation Counseling (NFMC) program found that homeowner support services have a substantial impact. NFMC-counseled clients who received a mortgage modification lowered their monthly mortgage payment, on average, $176 more per month – which represents $372 million in annual saving to all NFMC-counseled homeowners. These counseled homeowners were at least 67% more likely to remain current on their mortgage 9 months after receiving a loan modification. Homeowners who received the NFMC counseling were nearly twice as likely to obtain a mortgage modification.

Q: How do I request your help?

A: Call or email us! Our staff will provide you with an in-take application and ask you to register for our Default Intervention Workshop. Once you attend the workshop or complete the application, we will call or email you to schedule your initial one-on-one counseling session. From that point forward, you will work directly with a trained housing counselor to craft and execute an agreed upon action plan. Phone: (503) 961-6432   Email: home@haciendacdc.org

Q: I have a fixed income and few resources, can I afford your help?

A: YES.  All of Hacienda CDC's Homeownership Support Program services are free of charge to Oregon residents.

Q: I am concerned about privacy, will you share my information.

A: NO. All of Hacienda CDC's Homeownership Support Program services are confidential.

Q: My relative is facing foreclosure and English is his second language, do you have bilingual housing counselors?

A: YES. Once requested, binlingual services are accesible from the moment a homeowner calls our office, completes an intake application, attends our Default Intervention Workshop and through to scheduling one-on-one counseling sessions.  The Homeownership Support Program has trained staff members with fluency in several languages.

Q: What is your default intervention workshop?

A: This informative workshop is the first step for all homeowners seeking our counseling services and is open and available to all who wish to attend. Participants will learn about the foreclosure process, key players and roles, important timelines, basic overview of options, how to avoid scams, and how to get started working with a housing counselor.

Q: What can I expect from a one-on-one counseling session?

A: Professionalism, respect and confidentiality are essential components to one-on-one housing counseling sessions. While counselors cannot guarantee specific outcomes with loan servicers, they will meet with you and review your current financial information including budget, credit and income. Counselors address all available options and develop a working action plan for you to put into effect. If your in-take application is complete, a housing counselor can potentially submit a workout package directly to your servicer and begin to advocate for your case. Counselors will also work to connect you with all available resources and make referrals to other programs when necessary.

Q: Are there other benefits to working with Hacienda CDC's housing counselors?

A: YES. Hacienda’s Homeownership Support Program counselors can submit requests for modification on behalf of homeowners whose mortgages are owned by Fannie Mae by contacting the lender’s Mortgage Help Network directly through a unique partnership. By working with the lender/investor rather than the loan servicer, homeowners benefit from a quicker response time, more regular communication about the status of their case and workout options.

Q: I am a senior citizen living in Multnomah County, are there additional resources to assist me?

A: YES. In collaboration with MHAC, Hacienda CDC’s Senior Retention Program provides an array of culturally specific education, referral and support services to seniors (55 years +) living in North or Northeast Portland. It is specifically designed to assist individuals within this age group maintain homeownership and prevent avoidable foreclosures.

Q: What is the Foreclosure Avoidance Mediation Program- Senate Bill 1552?

A: Oregon Senate Bill 1552, which establishes a residential foreclosure mediation program, became law on July 9, 2012. The new law gives Oregon homeowners the opportunity to meet face-to-face with their loan servicer and a neutral mediator to discuss alternatives to foreclosure. Currently, pre-mediation counseling services are available to homeowners who are “at risk” under the terms of the statute and have not received a formal Notice of Default. Mediation may also be available to some homeowners who have received a Notice of Default after the law was enacted. Homeowners who are in the “at-risk” category can request mediation by going to the mediation website and opting in to the program. Loan servicers have the right to deny or comply with the mediation request. Hacienda CDC’s housing counselors can help a homeowner understand if they are a good candidate for the mediation program, provide updates regarding the program’s current administrative rules and assist will navigating the enrollment process.

Q: I am facing foreclosure and I need legal assistance, what can I do?

A: Hacienda CDC’s Homeownership Support Program staff and housing counselors cannot provide legal advice. If you are in need of legal counsel, please contact the Oregon State Bar Attorney Referral Service. In addition, for Oregon homeowners with low to moderate income levels, OHCS was appropriated $400,000 to increase the availability of legal assistance. OHCS will announce the name of the qualified provider that will coordinate training for attorneys and counselors across the state, as well as hiring full-time attorneys to handle homeowner casework directly. Updates for this program will be available on the OregonHomeownerSupport.gov website.