Losing your home to foreclosure can be devastating - not just for you, but for the entire community. That's why Delaware is holding a workshop in Wilmington Tuesday to help homeowners avoid foreclosure.
Delaware has finally recovered from the housing crisis, with home foreclosure rates reaching their pre-recession level for the first time last year. But that’s still a rate of 3,000 foreclosures a year. And that’s not good for anyone.
“When you look at national studies you see that kids of homeowners perform better in school and homeowners are more engaged in their community,” said Anas Ben Addi, director of the Delaware State Housing Authority.
He said the state has in interest in supporting homeowners, which is why the Housing Authority is holding Tuesday’s workshop at the Chase Center.
If you’re facing foreclosure or delinquency on your mortgage, counselors will pair you with state and federal programs to keep you in your home.
These include a zero-interest bridge gap loan of up to $30,000 or some form of loan forgiveness.
And if foreclosure is unavoidable, counselors will make it easier to bounce back and own a home again by seeking a short-sell or negotiating with lenders.
Tuesday’s workshop runs from 3:00 to 7:00 at the Chase Center in Wilmington.
