Access to community resources and financial assistance; debt management and repayment programs; financial counseling

Description

The Foreclosure Prevention Assistance Program provides:

• Referral to an advisor and online tools
• Access to financial assistance
• Debt management and repayment programs
• Financial counseling
• Information about the foreclosure process
• Working with the mortgage company
• If applicable, one-time mortgage, contract for deed, or other financial assistance

All recipients are required to enter into an agreement to repay the financial assistance. The agreement will be either a secured lien against the property or a repayment plan with a schedule beginning 3-6 months after closing.

Features

• Area Served by County
  • Cottonwood County
  • Redwood County

• Organization Type
  • Community Action Partnership

• Specialization
  • People with low income

Eligibility

Households who are facing foreclosure due to a temporary financial crisis caused by circumstances beyond their control. Emphasis for financial assistance is placed on households with incomes at or below 60% of area median income limits adjusted for family size.

Serves residents of Cottonwood, Jackson, Lincoln, Lyon, Redwood, Kandiyohi, Renville, Meeker, and McLeod Counties.