The Minnesota Housing Finance Agency and MN Home Ownership Center want you to know help could be available to you if you are a Minnesota homeowner dangerously close to foreclosure. The Emergency Homeowners Loan Program (EHLP) will give 1,405 selected Minnesota homeowners up to $50,000 each in interest free loans over the next two years to help them catch up and keep up with their mortgage payments.
During Chela’s last call to BAC, the customer service “specialist” instructed Chela that the permanent modification would take 60-90 days to process after the last trial period payment had been received. Chela sent the last trial period payment electronically on February 1st. Knowing that the computer system at BAC had traditionally taken a few days to catch up with what was happening, Chela decided not to call for follow-up on the modification until mid February.
The Minnesota Home Ownership Center has recently published a Foreclosure Counseling map that will help struggling home owners according to their county of residence. For example, those who are in Dakota County can contact the Dakota County CDA at 651-675-4555 and Scott County residents will contact Carver County CDA at 952-448-7715. Here is the link for the full directory.
The Minnesota Home Ownership Center takes on the magazines article and makes it’s case for why home ownership IS a good thing(Although it may not be for everyone).
We all know that getting prequalified for a mortgage before shopping for a home is an essential part of the process. But are you thinking about home expenses when you are figuring out what monthly mortgage amount you are comfortable with?
In his post, Rob reviews what is causing the next wave of foreclosed homes, and with information from Minnesota Home Ownership Center, shares the map with the hot spots that Minnesota Home Ownership Center feels will be popping up with even more foreclosed homes.
Watch this video for information on the upcoming First Time Home Buyer Class
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