The CARES Act extensions for the Foreclosure Moratorium and Eviction Moratorium are set to expire December 31, 2020. With the uncertainty of when a new relief package will be passed and what it will include, Wyoming residents need to be prepared and should know that there is help and support available. You do not have to navigate these processes alone. It may be the right time for you to visit with a HUD Certified Housing Counselor at Wyoming Housing Network (WHN) regarding your current housing challenges. Wyoming Housing Network is a non-profit organization with 15 years of experience in assisting Wyoming residents in keeping and securing housing.
WHN provides services and counseling that can help you navigate these difficult times in our communities.
Foreclosure prevention is when WHN assists you with the negotiation to delay or stop a foreclosure. They are there to assist you in any way they can to either help you get a loan modification, repayment plan, or forbearance. If none of those options are available to you, and you have to do a short sale, or deed in lieu, WHN is also there to assist you through that process, and even help you locate new housing. If a foreclosure was to happen, this does not mean you can never own a home again. You can rebuild your credit and own a home again within a couple years. WHN will give you the education and referrals to get you where you need to be. WHN’s foreclosure counseling is FREE—you should NEVER pay for foreclosure help!
WHN Rental Counselors are available to assist you with many aspects of renting such as, finding the right rental, creating a workable or emergency budget, and understanding a lease agreement. If you are facing an eviction, WHN may be able to work as a mediator with you and your landlord to discuss possible repayment plans that could keep you in your current rental.
Reverse Mortgage Counseling
WHN’s counseling for a reverse mortgage is structured to educate the homeowner about all aspects of a reverse mortgage. Reverse mortgages were developed so seniors, 62 and older, can stay in their homes and use the equity that they have built to pay off the current mortgage or debt on the home, personal debt, medical bills, travel or just to have some funds available to make ends meet. Estimates of what you might receive are calculated and reviewed, which are based on the market value of the home, the age of the youngest homeowner and the current interest rate. Obtaining a reverse mortgage is a major decision; homeowners need to research and become well informed about the consequences of obtaining a reverse mortgage. Not only is the counseling a requirement for a homeowner to receive a FHA insured reverse mortgage, it is also another source of education to make sure you’re making the right decision. WHN’s reverse mortgage counselor is available to answer general question about reverse mortgages.
Take Action in A Financial Crisis Tool
WHN has made available their Take Action in a Financial Crisis packet free to download. It will walk you through four very powerful steps to help you prioritize your budget, give resources for help, and much more. You can find the Take Action packet and more information about all of their services on their website.
PAID FOR BY WYOMING HOUSING NETWORK
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