August 8th, 2013
A recent report from the Federal Housing Finance Agency Office of Inspector General (FHFAOIG) concluded that many homeowners eligible for mortgage help under the Home Affordable Refinance Program (HARP) hadn’t availed themselves of the program simply because, unfortunately, they didn’t know about its existence. HPF is dedicated to helping distressed homeowners find sustainable solutions to their mortgage challenges, and it’s essential to get the word out about this vital program. Continue Reading…
August 6th, 2013
Kudos to Forbes’ Abram Brown for his cautionary tale about Armando Montelongo, characterized by the magazine as a “home-flipping huckster” reportedly reaping millions advising people to go into debt to buy foreclosed homes and flip them.
As Forbes aptly notes, Montelongo’s success is but another sign that we appear to be on the cusp of another housing bubble – even before the fallout of the last one has been fully cleaned up.
August 5th, 2013
The Department of Housing and Urban Development (HUD) announced on July 30th a series of measures intended to ease the burden of those impacted by the severe storms and flooding that left a trail of destruction in the state of West Virginia last month. Continue Reading…
July 31st, 2013
When you think about the term ‘budget’ what comes to mind? According to a poll from the National Foundation for Credit Counseling (NFCC), 57 percent of people surveyed considered a budget a “restriction on their spending.”
As the NFCC points out, however, a budget is not meant to be restrictive so much as it is meant to help consumers manage their expenses and make smarter monetary decisions that will enable them to achieve financial stability. While a budget may be perceived as limiting, there are many beneficial aspects to constructing a personalized spending plan, particularly for distressed borrowers seeking to regain their footing. Continue Reading…
July 24th, 2013
Last week, Forbes published an insightful piece cautioning borrowers against the myriad of mortgage and foreclosure rescue scams that continue to plague distressed homeowners who are understandably desperate for a mortgage remedy. Continue Reading…
July 12th, 2013
NeighborWorks America and the Citi Foundation released a new report at the end of last month that further validates how consumers benefit from financial coaching and education.
The report, entitled “Scaling Financial Coaching: Critical Lessons and Effective Practices,” is based on results from a two and a half year project – the “Financial Capability Demonstration Project” – which found that financial coaching helps consumers reduce debt, increase savings, and gain financial knowledge. Continue Reading…
June 20th, 2013
The U.S. Department of Housing and Urban Development this week announced that they have awarded HPF a $3 million grant to further support the HUD-certified housing counseling and foreclosure prevention services that we offer for free to all homeowners who are in need of trusted, legitimate guidance regarding their mortgage and financial challenges. Continue Reading…
June 19th, 2013
One of HPF’s core objectives is to support sustainable homeownership by offering professional guidance to homeowners who need help understanding their mortgage obligations. For the past 10 years, HPF has offered this support mainly in the form of foreclosure prevention counseling. Last year alone, HPF counseled over 250,000 distressed homeowners and, in doing so, brought understanding and financial expertise to so many Americans living in a confusing housing limbo.