2018 Foreclosure Prevention Success Story
Foreclosure signs are still far too common in Delaware. According to RealtyTrac, a firm that tracks foreclosures, as of January 2019, Delaware has the second highest rate of foreclosure in the nation. The national average is 1 in every 2,348 housing units; for Delaware it’s 1 in every 1,159. In Kent County, it’s even higher with 1 in 903 facing foreclosure. NCALL is working hard to keep them to a minimum.
It takes a number of remedies to assist families in saving their homes when possible. Whether it be assisting with foreclosure mediations, loan modifications or the Delaware Emergency Mortgage Assistance Program (DEMAP) for hardships as well as improved money management, NCALL specialists use many programs and options to help families in crisis.
The foreclosure mediation program creates a process by which homeowners are connected to housing counseling and provided an opportunity to participate in a mediation session prior to the court system entering a judgment of foreclosure. This program gives homeowners a great opportunity to work with housing counselors, their lender and a neutral mediator to reach a positive alternative agreement and avoid foreclosure.
The mediation program’s goal is to assist homeowners avoid foreclosure by providing a formal process intended to foster negotiations between homeowners and mortgage companies. During this past fiscal year, NCALL participated in 191 mediations.
According to Darlene Blythe, Esq., Associate Attorney with Stern & Eisenberg in Newark, DE, who works with mortgage companies in the foreclosure process, “I have discovered that NCALL is fabulous to work with! A borrower who has no assistance doesn't fill out the required forms correctly or completely. They don’t submit proof to justify their hardship. NCALL knows what mortgage companies want. The outcomes are better, the timeframes are shorter and there is less frustration on the part of the borrower.”
Darlene shares that NCALL is very professional and has a high level of customer service, saying “I rely on the housing counselors to bring me up to speed on what is going on with the borrowers and they are speaking for and explaining things to the borrowers, which is very helpful. When NCALL says they are going to have it, it’s there!”
It seems like the benefits go beyond just the paperwork too. “Borrowers who work with a housing counseling agency feel like they have someone to communicate with and share their burden. Maybe they feel not so alone.”
About Foreclosure Prevention
NCALL's homeownership counseling helps households become mortgage-ready for conventional financing and special financing programs, such as FHA, VA, and Rural Development Section 502 mortgage loans.