No one expects to fall behind on their mortgage payment or lose their home to foreclosure, but sometimes the unexpected challenges of life can make the responsibility of homeownership tough. Before seeking foreclosure assistance, it is important to understand the following:
- There is never an up-front charge for foreclosure prevention counseling
- It is always confidential and free of charge
- Foreclosure counseling is not reported to any credit reporting agency and will not impact your credit score
If financial difficulties are threatening your ability to keep your home, the following Take Root Milwaukee members can assist you:
GreenPath Financial Wellness
877-290-6974 or www.greenpath.com
Provides free or low-cost and confidential counseling services for credit, debt, foreclosure prevention, and reverse mortgage, assisting clients to improve their financial situation. They are a national nonprofit organization with over 55 years of experience in financial counseling and education, and is an approved U.S. Department of Housing and Urban Development (HUD) housing counseling intermediary. Foreclosure prevention counseling is available free of charge. GreenPath offers counseling or interpretation services via phone or in-person in over 170 languages.
Housing Resources Inc.
414-461-6330 or www.hri-wi.org
HRI offers foreclosure prevention counseling, assisting homeowners who are in danger of becoming delinquent on their mortgage, and to understand their options. The main goal is to help you save your home, and their specialists can provide assistance in-person or via telephone counseling.
414-939-8800 or www.mediatemilwaukee.com
Provides voluntary mediation services to residential homeowners and lender/servicers who are parties to a foreclosure action filed in Circuit Court. All mediations are confidential, conducted by a licensed attorney, include a mandatory referral to a homeownership counselor, and entail a minimal fee. Mediation does not replace or stay the legal foreclosure action, but can assist in resolving the foreclosure action in a manner acceptable to both parties.
Metropolitan Milwaukee Fair Housing Council
(414) 278-1240 or www.fairhousingwisconsin.com
MMFHC helps protect borrowers against predatory home loans and foreclosure rescue scams (the illegal practice of charging money up-front for help with preventing foreclosure), and helps those who have already become victims of these actions. To report or receive assistance with mortgage rescue scams, predatory lending questions or complaints call 414-278-1240, x22.
RENTERS & FORECLOSURE
Tenants whose landlords are being foreclosed upon have protections under federal law. Once a property is acquired after a foreclosure sale, any leases in place must be honored, or give 90-days notice to terminate tenancies of any tenants who do not have a lease. If you are a renter in a foreclosure situation, contact Legal Action of Wisconsin or the Tenant Resource Center for assistance.