Have you missed a mortgage payment or are you nearing foreclosure? The CDA’s Mortgage Foreclosure Program is a free advisory program for homeowners that are having difficulties making their mortgage payment.
Our homeownership advisor can:
Provide information and options about the foreclosure process,
Help you submit a mortgage modification request to your lender, and
Help you understand what options you many have to remain in your home.
If foreclosure is unavoidable, our staff can equip you with knowledge on the process and help you prepare for the next step.
Homeownership specialists will assess your specific situation to determine the solutions that are available, as well as teach you how to establish financial stability and strategies to avoid similar situations in the future.
Please note: Applicants must be residents of Dakota County and be committed to solving their financial problems with long-term solutions.
Contact a trained Homeownership Specialist today at 651-675-4470.
The CDA is part of the statewide effort to prevent foreclosures through a partnership with the Minnesota Homeownership Center and Fannie Mae. The Minnesota Homeownership Center and Fannie Mae have direct access to local Fannie Mae staff solely dedicated to making loan solutions faster and easier for area homeowners with loans that are owned by Fannie Mae.
This partnership allows the Dakota County CDA and other non-profit foreclosure counselors across the state to involve Fannie Mae, the loan owner that also known as the investor, in the loan mortgage workout process at the outset of a request for help.
Previously, foreclosure counselors and homeowners worked with a lender or servicer’s loss mitigation department for months to secure a loan modification and prevent foreclosure. Under this new process, that wait time may be trimmed to a matter of weeks.
To find out if their mortgage is owned by Fannie Mae, homeowners may ask their mortgage servicer or check online by using the Fannie Mae Loan Lookup tool at www.fanniemae.com/loanlookup or call Fannie Mae at 1-800-7FANNIE (8 a.m. to 8 p.m. EST).
Covid 19 Mortgage Forbearance
The below video provides information about Covid 19 mortgage forbearance and understanding how to repay.
