What can HOHC do for me?

We EDUCATE and inform you with Industry Trade Knowledge which EMPOWERS you.

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How can HOHC help me?

We NEGOITATE with you so you can have a proactive workout solution
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What makes HOHC different?

Our Loan Modification Partnership Agreement which encourages Fiscal Behavior Modification and Financial Restructuring.

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FAQs

I'm currently in bankruptcy. Can you still help?
Yes. But we cannot negotiate a work-out agreement with your lender until your mortgage has been discharged or dismissed from the bankruptcy proceedings. Our professional loss mitigation consultants can still evaluate your case and explain the best options to save your home. Then, when the mortgage is out of bankruptcy, we can proceed with the home foreclosure assistance. Sometimes after bankruptcy, it is easier to make a mortgage payment because other debts have been discharged.

Should I file for bankruptcy to save my house?
That usually doesn't work.  The American Bar Association has reported that 96% of homeowners who declare bankruptcy end up losing their homes to foreclosure anyway. Bankruptcy is very unlikely to help you save your home. If you declare bankruptcy, you will likely end up with BOTH a bankruptcy and a foreclosure on your credit report.

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How to Avoid Making Mistakes

Helping home owners save homesSource: NY Daily News

Tuesday,Oct 2nd, 2007

NEIGHBORHOOD HOUSING Services of New York City, which held Foreclosure awareness Days in all five boroughs over the weekend, has some tips for avoiding predatory lending and foreclosure:

  1. Have your loan offer reviewed for free by an NHS counselor before committing to a loan.
  2. Make sure you ca afford the loan. The lender may tell you that you are qualified for a big loan, but you are responsible for the monthly mortgage payment. Can you afford the loan?
  3. Make sure that you fully understand the loan terms – what the fees are, charges, interest, pre-payment penalties, etc.
  4. Do not accept the first offer-shop around until you are comfortable and after you have received counseling from NHS or another nonprofit HUD- certified counseling agency.
  5. Do not go to a one-stop shop.
  6. Get it all in writing.
  7. Make sure your broker is registered and the lender is licensed.
  8. Do not accept telephone or mail solicitations. Be wary of flyers offering special deals.
  9. Do not sign any document with blank spaces or no date.
  10. Do not agree to exaggerate your earnings or anything else to qualify for a loan.
  11. Do not be pressured into a deal.
  12. If it seems too good to be true, it probably is.

WHERE TO CALL FOR HELP:
*Neighborhood Housing Services of New York City, Bronx office: (718) 881-1180
*New York Department of state customer representatives: (518) 474-4429.
*Nardin Realty Group’s free Homeowners Help Center: (718) 798-7141.
For more information on the internet go to: http://www.dos.state.ny.us/about/predatorylending.htm

 

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New York, 10466

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