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Foreclosure Prevention

Minnesota Housing works with organizations around the state to provide counseling and financial assistance to Minnesotans facing foreclosure. Whether you’re a homeowner with concerns about making your payment or a renter facing the possible loss of your residence, there are resources and information that can help. The earlier you take action, the more options will be available to you. 

Contact a Foreclosure Prevention Specialist in your area to get started. The Minnesota Home Ownership Center is a non-profit organization who works to promote and advance successful homeownership in Minnesota. Their website at www.hocmn.org provides information on the foreclosure process in Minnesota, things of which to be aware, and access to a network of certified Foreclosure Prevention Specialists. Links to information on their website is listed below or you can call them at 651-659-9336 or 1-866-462-6466:

Facing Foreclosure

Modifications and Refinances
Looking To Refinance:  Access to refinance counseling services
Making Home Affordable:  A federal government resource for homeowners looking for information regarding loan modifications and refinances.

Looking to Buy a Foreclosed Home
If you are interested in purchasing a foreclosed property and would like to learn more about some of the resources that are available, Minnesota Housing has several Helpful Links to Cities and organizations with current initiatives underway. In addition, we currently offer programs with resources targeted towards assisting with the purchase of/or rehabilitation of a foreclosed property.

Homeownership Opportunity Program (HOP) - Provides short-term temporary financing for the purchase and rehabilitation of vacant properties in, or in imminent danger of foreclosure, and for peoperties in a foreclosure impacted area. HOP loans are paid off by standard first mortgage products when the rehabilitation is completed. A borrower does not need to be a first-time homebuyer to use HOP.

Home Owner Entry Loan Program (HOME HELP) - Provides the opportunity for eligible homebuyers who qualify for a Minnesota Housing Community Activity Set-Aside (CASA) first mortgage to receive downpayment assistance. Funds are accessed by applying with participating lenders within the Twin Cities metro area or Greater Minnesota.