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Foreclosure Prevention
If you are having difficulty paying your mortgage and fear that you might be at risk of foreclosure, please attend one of our Foreclosure Orientation classes that are held at our office on selected Monday evenings. Please call (203) 777-6925 for a schedule.
The number of foreclosures in Connecticut has continued to rise, afflicting suburban areas as well as cities like New Haven. As everyone knows by now, the increase in the number of foreclosures is not a result of any one particular circumstance. Rather, a confluence of factors has produced a phenomenon that now threatens the stability of our residential neighborhoods as well as the ability of homeowners to keep their homes. Factors contributing to the foreclosure crisis include declining real estate prices that have resulted in homeowners owing more on their mortgages than their homes are worth; subprime loans that are no longer affordable; and homeowners who purchased houses that they could not afford. Neighborhood Housing Services of New Haven and the New Haven HomeOwnership Center are working tirelessly with individual clients to help as many homeowners in trouble as possible. Because of the complexities of many of the mortgages and personal financial situations, however, this is often a tedious and time-consuming process. Nevertheless, we remain committed to working with each and every homeowner who has requested our assistance.
HomeOwnership Center Managing Director, Bridgette Russell, stresses the importance and success of foreclosure intervention counseling.
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