Residents facing foreclosure given a chance for help

Nearly 900 homes are in foreclosure right now in Springfield

SPRINGFIELD, Mass. (WWLP) – Helping Homeowners stay in their homes. Springfield residents facing foreclosure got an opportunity to explain their struggles Thursday night.

For one man, it was losing his job while facing a stack of bills on the table. “Myself personally, I ran into that situation and I was able to explore different agencies. And I was able to go in and find out I had an ally,” said Michael King of Springfield.

For King, that ally was Springfield Neighborhood Housing Services. At no cost, Housing Specialists helped him learn about “H.A.M.P”, the Home Affordable Modification Program.

Jacqueline Nogueras of Springfield Neighborhood Housing told 22News, “It just makes it affordable for them to make their payments and stay in their home and avoid foreclosure.”

If you qualify through the free program, lenders modify your loan to make it more affordable, while you get back on your feet. Also, Springfield Neighborhood Housing says lenders are willing to do it. It helps them avoid the fees and the total loss of funds associated with foreclosure.

According to the RealtyTrac website, nearly 900 homes are in foreclosure right now in Springfield. The Home Affordable Modification Program aims to keep that number from growing. However, applying for the program can be tricky.

To qualify:

  • You must have obtained your mortgage before January 1st 2009.
  • Owe no more than about $730,000.
  • You cannot qualify if you’ve committed a crime related to mortgage or real estate transactions.

Springfield Neighborhood Housing will help you apply for the program, free of charge.

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