More and more homeowners are having trouble keeping up with their mortgage payments, particularly when they have adjustable rate mortgages (ARMs). I recently convened a series of roundtable meetings in a number of Michigan communities. Leaders from local and state government as well as organizations that are working with families facing foreclosure came together to discuss practical ways to help homeowners and protect our economy from further damage.
We heard that many homeowners face the financial pressures of owing more on their mortgages than the dollar value of their houses. Participants in the meetings discussed the need for more affordable loans that would help these families refinance and stay in their current homes. Most homeowners do not want to uproot their children and leave their community behind even if the balance of their mortgage is greater than the current market value of their home.
In my meetings with Michigan citizens who are working on foreclosure issues, they made clear that a number of commonsense measures can be helpful in confronting this problem. Effective action to address the mortgage crisis is critical for us to secure Michigan’s and this nation’s economic future.
My office has compiled this extensive list of resources to help homeowners avoid foreclosure and stay in their homes. Please take a few minutes to read the information below and see if it may be helpful to you.
If you need my office's assistance with a housing issue, please click on the "Request Housing Help" link to the left to fill out the online form and privacy release, and return it to my office. Please allow up to 30 days from the day we receive your release for my office to contact you.
Carl Levin
Information on Homeownership and Avoiding Foreclosure
Click each section below to learn more about it.
Federal Resources »
MakingHomeAffordable.gov
The Treasury Department and the Department of Housing and Urban Development have set up this website for the 7-9 million homeowners who may be able to benefit from the Obama Administration's "Making Home Affordable" program. Need urgent help? Contact the Homeowner's HOPE Hotline: 888-995-HOPE (4673).
U.S. Department of Housing and Urban Development (HUD)
The HUD website has a page with links to various resources including housing counseling agencies, the Michigan State Attorney General, free legal aid. Visit Avoiding Foreclosure: Michigan.
Federal Housing Administration (FHA)
The Federal Housing Administration provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. Their website hosts information on various federal assistance programs.
Federal Trade Commission (FTC)
The Federal Trade Commission website offers comprehensive consumer information on a wide variety of topics. Visit the FTC's Mortgages / Real Estate page for various helpful publications and facts for consumers about homes and real estate. The FTC's Real Estate Marketplace Glossary: How to Talk the Talk [PDF] provides definitions of terms often used in the real estate industry.
The Home Mortgage Disclosure Act
Congress enacted the Home Mortgage Disclosure Act (HMDA) in 1975, which requires lending institutions to report public loan data. This website provides information about the regulation and its interpretation.
Health and Retirement Benefits After Job Loss
The U.S. Department of Labor has compiled this webpage with tips for how to keep your health care coverage if you lose your job.
Helpwithmybank.gov
The Office of the Comptroller of the Currency (OCC) set up this website to help customers of national banks find answers to questions on several topics including mortgages and home equity products.
The Consumer Financial Protection Bureau
The Consumer Financial Protection Bureau was established by Congress under the Dodd -Frank Wall Street Reform and Consumer Protection Act of 2010 in order to protect consumers. The CFPB will soon open their Consumer Response Center as a one-stop for consumers to direct their complaints regarding financial institutions. In the meantime, the CFPB has a Complaint Assistant on their website to provide you with information on what agency to best handle your concerns.
Michigan Resources »
Michigan State Housing Authority Step Forward Program
The Michigan Homeowner Assistance Nonprofit Housing Corporation (MHA) acting through Michigan State Housing Development Authority (MSHDA) has received federal funds from the U.S. Department of Treasury to help Michigan take a step forward through a comprehensive, statewide strategy that is aimed to help homeowners who are at high risk of default or foreclosure.
Michigan Recovery and Reinvestment Plan
This website is Michigan's online source for information on the American Recovery and Reinvestment (ARRA).
Michigan Attorney General
The Michigan Attorney General Avoid Foreclosure website offers various resources to help you save your home.
Federal Housing Administration (FHA)
The Federal Housing Administration provides mortgage insurance on loans made by FHA-approved lenders throughout the United States and its territories. Their website hosts information on various federal assistance programs.
Federal Trade Commission (FTC)
The Federal Trade Commission website offers comprehensive consumer information on a wide variety of topics. Visit the FTC's Mortgages / Real Estate page for various helpful publications and facts for consumers about homes and real estate. The FTC's Real Estate Marketplace Glossary: How to Talk the Talk [PDF] provides definitions of terms often used in the real estate industry.
The Home Mortgage Disclosure Act
Congress enacted the Home Mortgage Disclosure Act (HMDA) in 1975, which requires lending institutions to report public loan data. This website provides information about the regulation and its interpretation.
Health and Retirement Benefits After Job Loss
The U.S. Department of Labor has compiled this webpage with tips for how to keep your health care coverage if you lose your job.
Helpwithmybank.gov
The Office of the Comptroller of the Currency (OCC) set up this website to help customers of national banks find answers to questions on several topics including mortgages and home equity products.
City and County Resources »
Foreclosure Response
Foreclosure Response is a non-profit effort in Kent County that offers free help to homeowners having trouble making their mortgage payments. Homeowners can meet with a trained housing counselor to learn about resources to help prevent foreclosure.
HoldOnToYourHome.org
The City of Lansing and the Ingham County Treasurer's Office have developed this website of community resources to help area homeowners stay in their homes.
Oakland County Housing Counseling
The Oakland County Community and Home Improvement website offers information on housing counseling, self-help tips and an online video.
Washtenaw County Mortgage Timeline
The Washtenaw County website provides a sample mortgage foreclosure timeline and glossary of terms related to the foreclosure process.
Wayne County Mortgage Foreclosure Prevention Program
Wayne County offers free educational seminars for citizens who want to learn more about how to avoid foreclosure. Wayne County also offers counseling and mediation for homeowners facing foreclosure.
Housing Counseling Agencies »
HUD Approved Housing Counseling Agencies
The Department of Housing and Urban Development maintains this list of HUD approved housing counseling agencies in Michigan.
Great Lakes Bay Region Housing Counselors
National and Michigan Hotline Numbers
- HUD Referral Line: 800-569-4287
- MSHDA Foreclosure Prevention Assistance Hotline: 866-946-7432
- Lighthouse Community Development: 248-920-6200 x2426 or 2427
- Lighthouse Community Development - Macomb: 313-706-3009
- Oakland Livingston Human Service Agency: 248-209-2616
- MSUE Macomb: 586-469-6430
- Southwest Solutions: 313-841-9641
- Washtenaw County Tax Assessors Office: 734-222-6519
- Mission of Peace: 313-967-0140
- Jewish Vocational Services: 248-233-4482
- Oakland County: 248-858-5402
- HOPE Hotline: 888-995-HOPE
- U Snap Bac Community Development Corp.: 313-640-1100 x12
Foreclosure Due to Property Taxes »
City and County Treasurers
Contact your county or city treasurer for information about assistance programs.
Internal Revenue Service:The IRS website has a page with questions and answers on home foreclosure and debt cancellation.
Filing Complaints on Financial Institutions »
The State of Michigan Office of Financial and Insurance Regulation
This page offers assistance to consumers if they have questions or complaints about credit unions, insurance companies, banks, securities, and HMOs.
Americans for Fairness in Lending
If you have a dispute with a lender over mortgage loans, credit cards, payday loans, debt collection or other financial services, this website provides information about how to file a complaint against that lender with its appropriate supervisory agency.
Office of the Comptroller of the Currency
The OCC's Customer Assistance Group is ready to help customers of national banks with questions or complaints they have about their financial institutions. You can contact the OCC Customer Assistance Group Monday through Friday from 8:00 a.m. to 8:00 p.m.
Office of Comptroller of the Currency
Customer Assistance Group
1301 McKinney Street, Suite 3450
Houston, TX 77010
800-613-6743
Fax: 713-336-4301
E-mail: Customer.Assistance@occ.treas.gov
Online Customer Complaint form
Federal Reserve Board
The Fed's Consumer Help page can assist with problems with your bank or other financial institutions.
Federal Reserve Consumer Help
P.O. Box 1200
Minneapolis, MN 55480
888-851-1950
Fax: 877-888-2520
TTY: 877-766-8533
E-mail: ConsumerHelp@FederalReserve.gov
Online Inquiry Form
Online Consumer Complaint Form
Consumer Action Website
The Consumer Action Website of the Federal Citizen Information Center provides consumers with an online version of the 2011 Consumer Action Handbook. If you have a consumer question or problem, this website will point you in the right direction for more information.
Rental Assistance »
U.S. Department of Housing and Urban Development - Rental Help: Michigan
You can search for a subsidized apartment and find out how to apply for public housing and housing choice vouchers (Section 8) on this HUD website.
Michigan State Housing Development Authority Listings
This website provides information on rental assistance programs and has links to several related websites of help to renters.
