DSHA partners with federal and local agencies to expand help for homeowners

The Delaware State Housing Authority will be taking the lead in a new outreach project designed to expand relief options available to homeowners who are struggling with their mortgages. The Making Home Affordable Outreach and Intake Project aims to help homeowners avoid mortgage default by seeking resolutions through the Making Home Affordable Program, the cornerstone of President Barack Obama’s plan to offer lasting relief to homeowners in financial distress.

DSHA is expecting to receive $47,750, which will be allocated to the housing counseling agencies that are participating in the program for document preparation, marketing outreach and oversight, in addition to the $12,135 for marketing funds through the MHA supplemental outreach funding. While the MHA Program was set to expire at the end of this year, the U.S. departments of Treasury and Housing and Urban Development recently announced the deadline has been extended until Dec. 31, 2015.

“We are pleased to be partnering with local housing counseling agencies to participate in this project,” said DSHA Director Anas Ben Addi. “While the housing market has begun a slow recovery, many homeowners are still struggling to make their mortgage payments on time and could benefit from one of the relief options available to them through the Making Home Affordable Program.”

Homeowners not only have more time to participate in the MHA Program, but the relief options available to them have been expanded as well. Homeowners who previously may not have qualified for a loan modification or refinance may now be eligible under expanded MHA criteria. Furthermore, homeowners who are under water, or owe more than their homes are worth, may be able to benefit from the MHA Principal Reduction Alternative.

“The Making Home Affordable Program has provided help and hope to many Delaware homeowners," said Jane C.W. Vincent, HUD’s regional administrator of the Mid-Atlantic Region. "Families have used its tools to reduce their principal, modify their mortgages, fight off foreclosure and stay in their homes. And with this extension, we ensure that the program keeps supporting homeowners in the First State for years to come.”

DSHA, along with five HUD-approved nonprofit housing counseling agencies, will be conducting intensive outreach to homeowners who may be eligible to participate in the MHA Program. Homeowners are encouraged to seek free, professional help from a certified housing counselor who can help them navigate the relief options available to them, and determine which one best meets their needs.

Delaware agencies participating in the MHA Outreach and Intake Project will be hosting a statewide open house from 5 to 7:30 p.m., Monday, July 22. In Sussex County, First State Community Action Agency, 308 N. Railroad Ave. and NCALL Research Inc. at 110 S. Bedford St., both in Georgetown, will act as hosts for this event.

For more information about the open house, and other related events in Delaware, go to www.DelawareHomeownerRelief.com or call 1-800-220-5424.