Mortgage Settlement Programs
In a huge victory for consumer protection 49 states were awarded $25 billion dollars in the 2012 National Mortgage Settlement between the U.S. Government and the nation’s five largest loan and mortgage servicers. The settlement found the five servicers in violation of laws that protect borrowers facing foreclosure.
Through the National Mortgage Settlement, Washington State received a cash payment of approximately $43.8 million to be used for either direct or indirect restitution to Washington consumers.
HomeSight is pleased to announce that our organization has been awarded funds from the Attorney General Settlement grant that will allow us to improve our homeownership and foreclosure prevention services in the Puget Sound area! HomeSight will use the awarded funds in two ways.
For clients looking to purchase a home, we will be using the funds to provide low- and moderate-income homebuyers low-interest, purchase assistance loans to buy foreclosed and short sale properties. These loans will make homeownership affordable and sustainable for these families and will reduce the number of vacant homes in neighborhoods. If you are interested in our purchase assistance loan program the first step is to sign up for one HomeSight’s Homebuyer Education class. Click here to sign up now!
For those facing foreclosure and trying to keep their home, HomeSight is partnering with the Washington State Housing Finance Commission to develop a Rescue Loan Fund. The fund should be up and running by October, but the first step for those interested is to make an appointment with a HUD certified counselor. Click here to find a counselor in your area. For more information about the new Rescue Loan Fund please call us at (206) 723-4355 or toll free (888) 749-4663.