Written by Worried About Your Mortgage?
You’re not alone. Just since January of 2011, 23 of our neighbors in the Hale, Page, and Diamond Lake neighborhoods have lost their homes to foreclosure, and we know many more are still struggling to keep up.
If you’re behind on your mortgage—or worried that you might not be able to make future payments—a nearby, HUD-approved non-profit (PRG, at 2017 E. 38th Street) can help.
PRG was started in 1976 by a group of neighbors in the Powderhorn Park area—the original name was Powderhorn Residents Group. Today, the organization serves many neighborhoods in and near Minneapolis, and their services are available to all Twin Cities residents, with no minimum or maximum income limit.
PRG’s counselors will take a look at your household finances, help you figure out what your options are, and then work with you toward a solution. This service is free.
You can work with a counselor whether you’re already in the foreclosure process or are still current on your payments and worried about the future. Of course, the sooner you take action, the more options you have, so it’s best to start working toward a solution right away.
Unfortunately, there are also companies out there who are looking to take advantage of homeowners who are facing the possibility of foreclosure. Beware of organizations that charge money for counseling. And be very wary of anybody offering a “quick fix” or a “buy back” deal. These “services” take advantage of homeowners’ desire to find a solution quickly, and they can often leave you worse off than you started.
To set up an appointment with a counselor at PRG, call (612) 721-7556, or visit prginc.org for more information. This article is reposted from the HPDL Newsletter.
