The ADFA and the Arkansas Economic Development Commission offers several foreclosure relief programs, including mortgage relief for persons struggling financially during the COVID19 pandemic. More information about their “ADFA move-up” loan program or their Mortgage credit certificate program, can be found n their website.
The ADDI program was designed to provide forgivable financial relief to qualifying, low income applicants to the value of 10% of the sale price, to a maximum value of $10 000.
This center offers a variety of down payment and closing cost assistance programs to potential homeowners. The applicants need to to purchase the home in question as their primary residence through the use of an approved lender.
The CADC has begun to provide financial relief, with specific focus on mortgage assistance and overdue utility payments during the COVID19 pandemic. They provide a maximum benefit of $500 for mortgage relief and $150 for utilities bills for qualifying applicants. More information on the application process, and qualifying requirements can be found on their website.
National or Federal Agencies
Making Homes Affordable is an organization that can help you access the Obama Mortgage Assistance, a federal program established by the Obama administration through the Department of Treasury. It was designed to assist homeowners facing foreclosure and can help with anything from offering advice to the restructuring of loans. Simply fill in the application form on the Making Homes Affordable website and speak to a Hardship Analyst. These analysts will help you apply for the correct relief program that is suited to your specific situation.
Homeowners facing potential foreclosure can also call the HOPE NOW toll-free at hotline at 1-888-995-HOPE (1-888-995-4673) or visit their website at www.995hope.org. This hotline forms part of the HUD-approved counselors, investors, and mortgage lenders that can provide valuable information and resources to help prevent foreclosure.
NeighborWorks® is a national non-profit using a network of almost 250 organizations dedicated to helping families through mortgage delinquency and hardship. They collaborate with many different government and private partners to assist homeowners in stopping foreclosure with the assistance of counselors. Contact them directly through their site to learn more.