Foreclosure Prevention
Network members are among the highest-capacity producers in the foreclosure prevention counseling industry. Building on their close connections to local markets and strong partnerships with government, lenders and other non-profits, our members provide a wide range of customized services -- from early delinquency intervention to intensive prevention counseling.
The ongoing foreclosure crisis has generated a significant increase in demand for foreclosure prevention counseling. To meet this demand, Network members have expanded their services beyond traditional face-to-face counseling, offering phone sessions and increasing their use of online and interactive technologies.
Foreclosure prevention counseling is intensive and multifaceted, and often reveals loans that the household was not in a position to afford. Counselors work with families to assess borrower circumstances and to create an emergency budget and workout options. They also negotiate loss mitigation with servicers. The loss mitigation process can take several weeks or months, as the dramatic increase in mortgage delinquency impacts servicer capacity to process cases.
To support members in their foreclosure mitigation counseling efforts, the Network facilitates regular conference calls and in-person peer exchange opportunities where members can share best practices, discuss challenges and learn about tools and solutions to implement at the local level.
