- Tough times aren’t cyclical, they’re oftentimes unpredictable
- We are a trusted partner in good times and in bad
- Information and help is out there, but homeowners need to know where to turn
If you haven’t already heard, I’m so excited to tell you the FAMily has partnered with HLP to create a new national platform to help homeowners in need. The platform will connect homeowners facing foreclosure (or other financial problems) with assistance needed to stay in their homes. This initiative will be funded by a Finance of America Foundation grant and developed by HLP. It is scheduled to launch in the third quarter of 2018.
FAM created this platform because, although there are many assistive programs out there, struggling homeowners don’t necessarily know where to find this type of help. HLP will build the website and resource database while collaborating with a plethora of organizations to keep the site and its information updated. These organizations include commercial banks, mortgage servicing companies, government agencies and nonprofit counselors.
The overall effect will be universal access and better transparency to all homeowner assistance programs. As you know, the Finance of America Foundation was established to connect individuals facing financial distress with relief sources at the federal, state and local levels. By leveraging FAM’s resources and intellectual capital, as well as HLP’s unique collaborative, the Foundation is able to offer support, education and relief to distressed borrowers that stretch beyond traditional mortgage industry approaches.
Tough times are not necessarily cyclical. A downturn isn’t needed to understand people will always experience hard times. Financial strains take many forms, whether it’s a death in the family, illness, lay off, car repair or any other unexpected burden, we want to make sure homeowners know they can turn to their FAMily in times of need. While the platform hasn’t launched yet, you should keep this initiative on your radar for that inevitable rainy day.