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N.H. Using Mortgage Settlement To Fund Foreclosure Counseling

Foreclosure sign
Jeff Turner via Flickr/CC 2.0 - http://ow.ly/LV7pt

New Hampshire is launching a program that provides counseling for homeowners who are at risk of foreclosure.

The$3.5 million to pay for the program comes from a multi-state settlement New Hampshire reached last year with the five largest mortgage lenders over foreclosure abuses.

The statewide initiative is called HomeHelpNH. Homeowners can get free advice on issues such as reviewing mortgage documents and exploring mortgage modification.

Homeowners can call 2-1-1 from anywhere in the state for assistance. They can also receive help online, or at one of eight nonprofit housing agencies across the state.

The New Hampshire Housing Finance Authority oversees the program, which goes into effect immediately. Executive Director Dean Christon says foreclosures have been on the decline in the Granite State.

“The peak activity so far was in 2010, when there were almost 4,000 foreclosures. The numbers have come down in the last couple of years, but not dramatically, so in 2012 there were a little over 3,600 foreclosures statewide.”

He says the trend so far in 2013 projects a continued decline.

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