Homeowner Stabilization Loans

Here is a great new program to help homeowners in distress:

HomeSight is pleased to announce the launch of the Seattle Homeowner Stabilization Loan Program. We have received a $484,000 investment from the City of Seattle - Office of Housing Housing Levy to originate foreclosure prevention “rescue loans” to help homeowners in jeopardy of losing their home. These funds are for a two-year pilot period at which time the City will decide whether to continue the program.

Homeowners experiencing temporary hardship or facing default or foreclosure whether from mortgage lender, property taxes or a condo association, may qualify for a low interest rescue loan up to $30,000 to help resolve the default. These loans will generally be available to owners who have fallen behind in payments and have exhausted other options and need assistance getting caught up, or who need additional funds in order to secure a loan modification, pay back taxes or condo dues.

For more information, or to find out if you qualify, contact:

WASHINGTON HOMEOWNERSHIP RESOURCE CENTER HOTLINE at (877) 894-4663.