Business Report Foreclosure Prevention: State Home Foreclosure Prevention Project (SHFPP) Housing Counseling Partnership Quarterly Report

Business Report Foreclosure Prevention.

State Home Foreclosure Prevention Project (SHFPP)
Housing Counseling Partnership Quarterly Report
Name of Counseling Agency: Telamon Corporation.
Reporting Period:
July to September 2016.
1. CHALLENGES ENCOUNTERED DURING THE QUARTER

Please outline any challenges that your agency faced during the quarter which impacted your ability to assist SHFPP referred homeowners.

Challenges Narrative:

Some of the challenges are homeowners did not have a financial plan on how they were going to go about paying the mortgages. Some of them had suddenly quit their jobs and did not have an eligible hardship. Such a situation was particularly difficult to assist because the starting point here was at zero.

Assistance needed to overcome the challenge:

This situation required the homeowners to first explain their situation to the lenders through a formal letter then proceed to look for jobs. The mortgage company would be lenient, but they would still want their money after the leniency period is over. The counselling team would direct them towards this path while giving advice on how to go about paying their mortgage once they were employed.

2. SUCCESS STORY

Please share the success story of a homeowner referred to your agency from the SHFPP call center. SHFPP File Number: 2016-2453139 Homeowner’s Name: CHERYL BATCHELOR

Homeowner’s Hardship:

A homeowner was facing an unemployment hardship.

Service Provided: Explain the service provided to the homeowner by your agency which resulted in successful resolution.

Resolution: Explain the successful outcome including loan modification details or other resolution details.

This resolution was reached because of due diligence of the counselor and the dedication of the client to save her property. Homeowner was approve for 18 months of payment thru the Foreclosure Prevention Funds program.