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New state program helps fight foreclosureUpdated at 05:40 PM todayRelated VideoAll Live Video : All Video » New foreclosure help program is available
Woman says persistence is a must when seeking mortgage help
Tags:mortgages, foreclosure, consumer, local
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Ilse Lujan-Hayes
MID-MICHIGAN (WJRT) -- (05/09/11) -- Foreclosure can be one of the most stressful and painful situations a family goes through
According to realtytrack.com, there are currently more than 95,000 homes in foreclosure in Michigan. In Genesee County, that number is nearly 4,800.
But there's a new state program trying to help families stay in their homes.
The program is called Step Forward Michigan. It's new and it's aimed at bringing relief to families that qualify.
If you go to stepforwardmichigan.org, you'll find the new portal that went up recently. This is where you can check to see if you qualify to apply for the program.
The Michigan Homeowner Assistance Non-Profit Housing, also known as MHA, was able to start the program with some federal funding. According to MSHDA, the plan is to help about 50,000 households, but currently only about 4,000 homeowners have applied.
MSHDA hopes the word gets out and more families reach out for help.
Meanwhile, we spoke to a foreclosure counselor who advised against walking away from a house you can no longer afford.
"Walking away is probably the worst thing that you can do when you're missing payments. If you can't afford your mortgage and there's nothing you can do to afford it, do not walk away. There are other options. You need to contact a counselor to understand what options are available for you and are best for your situation," said Kyle Hearn from Metro Community Development.
"It has been stressful. You send the same paperwork over and over. You get frustrated with them because you know you just sent it," Erin Strauss said.
The Strausses, Erin, her husband and their two children, have been in their Burton home for seven years. They started trying to get a loan modification after they began struggling to keep up with their payments.
"My daughter wants to do roller skating. That's $60 a month, and I have to tell her no because we just can't," Strauss said.
But then, good news came in the mail, the same day we interviewed her. "We received the notification that we've been approved for a loan modification. Such relief."
Relief to the tune of a $300 cut in their monthly payment. Strauss did it alone, but you don't have to. There are free foreclosure counseling agencies willing to help with a process that can be grueling.
Strauss says don't give up. Keep pushing and keep sending in the paperwork the lender requests.
More information:
MSHDA-HUD foreclosure counseling agencies
https://www.stepforwardmichigan.org/
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