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Avoiding Foreclosure

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Avoiding Foreclosure Avoiding Foreclosure State of Connecticut Department of Banking 260 Constitution Plaza Hartford CT 06103 May, 2017 Toll-free number: Foreclosure Hotline 1-877-472-8313 Website: www.ct.gov/dob Avoiding Foreclosure Additional Department of Banking Phone Numbers Main numbers: • 1-800-831-7225 • 860-240-8299 Fax number: • 860-240-8178 • Reference documents are available on the Reference Documents/Resources Department of Banking’s website, www.ct.gov/dob, this booklet: • Avoiding Foreclosure • Foreclosure Hotline Bulletin • Housing Counselors and Legal Services. The Department of Banking Consumer Assistance Consumer Assistance Form Form is available on the Department of Banking’s website at www.ct.gov/dob - an Inquiry/Complaint form to send to us if you have issues with your mortgage lender/servicer. Assistance in Spanish Note: Assistance in Spanish is available at the Department of Banking. Assistance in multiple languages is available through the Connecticut Housing Finance Authority (CHFA) and Department of Housing and Urban Development (HUD)-approved housing counseling agencies (refer to the housing counselor information in this booklet). Ayuda en Español es disponible a través de agencias de consejeria de vivienda aprobado por CHFA (favor de referirse a la lista de abajo). This page intentionally left blank. Avoiding Foreclosure Contents State of Connecticut Department of Banking Foreclosure Hotline ....................................................................... 1 ...................................................................................................................................................................................... 1 Overview - What is Foreclosure?....................................................................................................................................................................... 1 Avoiding Foreclosure Overview .......................................................................................................................... 2 Being Served with a Foreclosure Summons and Complaint ................................................................................. 3 Explore Loan Workout Options .......................................................................................................................... 4 Loan Workout Chart .......................................................................................................................................................................................... 4 Predatory Loan Issues ........................................................................................................................................ 5 Predatory Lending Prevention .......................................................................................................................................................................... 5 United States Department of Agriculture, Rural Housing Service 9 USDA Rural Housing .......................................................................................................................................................................................... 9 Foreclosure Types ............................................................................................................................................ 10 Foreclosure Types Chart .................................................................................................................................................................................. 10 Loan Workout Options Summary Chart .......................................................................................................................................................... 11 Reviewing FICO® and ScoreInfo Credit Score Information ................................................................................. 12 Making Home Affordable – The “Obama Plan” ................................................................................................ 13 Home Affordable Refinance Program (HARP) ................................................................................................... 13 HARP Eligibility ................................................................................................................................................................................................ 13 Review Unemployment Programs .................................................................................................................... 15 The Mortgage Crisis Job Training Program ....................................................................................................... 15 Special Protections for Unemployed or Underemployed Homeowners .......................................................................................................... 16 Review Government Programs ......................................................................................................................... 17 Avoiding Foreclosure ................................................................................................................... 17 Review Government Programs ......................................................................................................................... 19 FHA Streamlined Refinancing ..................................................................................................................................................................... 19 Contact the Connecticut Housing Finance Authority (CHFA) Regarding EMAP ................................................... 20 Emergency Mortgage Assistance Program (EMAP) ........................................................................................................................................ 20 Review Bank Settlements ........................................... 22 National Mortgage Foreclosure Settlement ................................................................................................................................................... 22 Bank Settlement Chart .................................................................................................................................................................................... 22 Contact HUD and CHFA-Approved Housing Counselors ..................................................................................... 25 HUD and CHFA-Approved Counseling Agencies in Connecticut ...................................................................................................................... 25 Contact National Hotlines ................................................................................................................................ 27 Homeowner’s HOPE™ ..................................................................................................................................................................................... 27 Contact a State Hotline .................................................................................................................................... 27 Infoline 211 in Connecticut ............................................................................................................................................................................. 27 For More Information ..................................................................................................................................................................................... 27 Programs for Pets ............................................................................................................................................ 28 Programs for Pets Chart .................................................................................................................................................................................. 28 Contact the Connecticut Association for Community Action (CAFCA) Agencies .................................................. 29 ...................................................................................................................................................... 29 Community Action Agencies (CAFCA/CAAs) .................................................................................................................................................... 29 CAFCA Chart .................................................................................................................................................................................................... 29 Contact for the Greater Norwalk/Stamford area (Greater Norwalk: New Canaan, Norwalk, Weston, Westport, and Wilton. Greater Stamford: Darien, Greenwich, and Stamford) – Demetria Dash. .................................................................................................................... 29 CAFCA Chart .................................................................................................................................................................................................... 30 ........................................................................................................................................... 31 Avoiding Foreclosure Contact 211 Infoline ......................................................................................................................................... 31 Community-Based Agency Assistance ...........................................................................................................................................................
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