12 Connecticut Towns Get Foreclosure Money

From the NewsTimes, 12 towns, including New Milford, will get some money to help fix up and fill many of the empty foreclosed homes:

NEW MILFORD -- Gov. M. Jodi Rell has identified New Milford as one of 12 cities and towns in the state eligible for $3.6 million in federal stimulus money to buy and upgrade foreclosure properties.

The intent is for towns, through their agencies or local nonprofit groups, to make the improved homes available as affordable housing to low- and middle-income families, officials said Friday.

State Department of Economic and Community Development spokesman Jim Watson said Friday it is uncertain how much money any of the towns will receive, but they can make applications based on need and capacity.

This will be in addition to $25 million in mortgage assistance funding Connecticut was given under the federal Neighborhood Stabilization Program. While even I view this as a great thing that we need to see done across the country, I just wish that actions like this had been taken early before many of these families had lost their homes. (And yes! I know I am biased in that department because of our experience with Countrywide...)

If you are on the edge of losing your home, HUD has some information that may help you while you wait to find out what sort of help may or may not come down from the State of Connecticut:

Guide To Avoiding Foreclosure

Whether you're in foreclosure now or worried
about it in the future, we have information that can help.

Get Help Now!

 - Talk to a foreclosure avoidance counselor
 - Talk to your lender
 - Find state and local foreclosure resources
 - Contact HOPE NOW

Keep Your Home

 - Are you at risk of foreclosure?
 - Tips for avoiding foreclosure
 - Foreclosure scams

Refinance Options

 - Learn about HOPE for Homeowners
 - Who to call when a lender won’t work with you

If You Can't Keep Your Home

 - Redemption period - your last chance to save your home
 - Local renting resources
 - Rental assistance
 - Relocation resources
 - U.S. Postal Service Movers Guide

Before you even consider trying to buy a home anywhere or anytime you might need some of this information:

 - Predatory lending - beware if you're buying or refinancing your home; don't become a victim of unfair lending practices

Stuff that I wish we had known about before we got stuck in the financial death spiral of our mortgage with Countrywide...

1 comment:

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