Housing Resources

The threat of losing a home to foreclosure is not only traumatic for families, it also undermines the stability of entire communities and the overall solvency of our banking system.  I will continue working to ensure the people of western Wisconsin have access to as much housing assistance as possible.

Steps Taken to Assist Homeowners

Last November, I sent a letter to U.S. Treasury Secretary Timothy Geithner urging him to take a closer look at lender responsiveness to requests made through the Home Affordable Modification Program (HAMP). HAMP was designed to modify mortgages so monthly payments are more affordable for struggling homeowners. The Administration heeded my request and recently proposed additional enforcements to ensure mortgage servicers comply with HAMP and remain responsive to requests.  

Currently, borrowers have to apply for housing assistance on their own and wait for lenders to service their application. Under the new proposals for the home modification program, lenders will be required to get in touch with borrowers that are 60 days past due on mortgage payments and help them apply for the program.  This takes some of the pressure off troubled borrowers and helps facilitate the process. This change will enforce bank participation in HAMP and could pave the way for approximately 4 million more borrowers nationwide to receive assistance through the program.

Other housing efforts include support for lower mortgage rates and access to credit, state and local housing agency initiatives, tax credits for homebuyers, neighborhood stabilization and community development programs, and support for mortgage refinancing.

Resources for Housing Assistance

If you are having trouble paying your mortgage or are at risk of foreclosure, there are assistance programs available to help you. The first step you should always take is to contact your lender.

I also strongly encourage you to call the national foreclosure help hotline at 1-888-995-4673. 

In addition, the Wisconsin Housing and Economic Development Authority (WHEDA) also serves as a useful tool in providing local resources to alleviate problems faced by residents of western Wisconsin. WHEDA’s Wisconsin Foreclosure Resource provides links to counseling agencies, lenders, real estate agents, rentals, legal advice and other means of help located right in your community.

Below is a list of government resources available to help you work out a plan to ease the burden of home foreclosure or mortgage payments.

Federal Assistance:
Hope Now Alliance
1-888-995-HOPE (4673)

State Assistance:
Wisconsin Housing and Economic Development Authority (WHEDA)
1-800-334-6873

Local Assistance:
West Central Community Action Program
1-800-606-9227

The U.S. Department of Housing and Urban Development helps apartment owners offer reduced rents to low-income tenants. Click here for more information.