april 6, 2016

Grant provides much-needed boost to Arizona homeowners in danger of foreclosure

Making Home Affordable program to sunset

Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) announced today that help is available for struggling homeowners in Arizona at no cost thanks to grant funding from the National Foreclosure Mitigation Counseling (“NFMC”) Program.

Because 2016 marks the final year for the federally-funded Making Home Affordable (“MHA”) programs, this opportunity addresses an urgent need to connect homeowners with these valuable relief programs before time runs out. To be considered for assistance through MHA, a complete initial package must be submitted on or before December 30, 2016.

Since the housing crisis of 2007, Springboard, a U.S. Department of Housing and Urban Development approved housing counseling agency and annual recipient of NFMC funding, has provided an invaluable free service to well over 250,000 homeowners and their families. “Foreclosure prevention counseling is a lifeline for homeowners who are experiencing any level of difficulty in making their mortgage payments” says Melinda Opperman, Springboard’s Chief Relationship Officer. “Whether families are about to miss a mortgage payment or are already far behind, Springboard’s counseling delivers support, direct access to available resources, and tangible help to relieve mortgage and other related financial struggles.”

Although much has been written about a rebound in the housing market, the fact is, not all communities and homeowners are bouncing back at the same pace. Research shows there are still pockets of extraordinary need across the country, and Arizona continues to be one of the most affected states. According to RealtyTrac, Santa Cruz County is struggling the most with 1 in every 860 homes receiving a foreclosure filing last month. That is 36% higher than the national average of 1 in 1,353. In Mesa there were 1,456 properties in some stage of foreclosure as of March 28th; in Tucson that number was 2,003; and in Phoenix, 5,034.

While national headlines move away from the devastating fallout of the housing crisis, it is crucial that struggling homeowners are made aware of the resources and programs that are still available. Early intervention is key to successfully preventing foreclosures, and the sooner a homeowner reaches out – even before missing a payment – the more likely it is that a counselor will be able to help.

Borrowers who need help saving their home from foreclosure are encouraged to contact Springboard by calling 877-752-6722 or find a certified housing counselor online by visiting http://www.homeownership.org.