Report: Prepare for new wave of mortgage foreclosure
At the end of February, the annual ‘Foreclosures in Minnesota’ report was published, and the trends we are seeing are promising, but indicate we...
1 min read
While we as housing counselors try to find the best solution for all of the homeowners who visit our organizations, sometimes foreclosure is unavoidable or may be the best option. So what comes next? Moving, and along with it, moving expenses! The Re-Housing grant can help with that.
The Re-Housing Grant offers up to $2,500 to eligible applicants in the Seven-County Metro Area (Hennepin, Ramsey, Anoka, Washington, Carver, Dakota and Scott Counties) who have been foreclosed upon and have to relocate. The goal of this assistance is to help homeowners who have experienced foreclosure avoid homelessness and ease their transition into a rental property.
The eligibility criteria are as follows:
-A Re-Housing grant has not been received previously.
-The Sheriff’s Sale has taken place and the end of the Redemption Period is near.
-The applicant is unable to secure an affordable place to live without the funding.
-The applicant has lined up an affordable place to live.
Possible uses for the grant include:
-Moving expenses
-Security deposits
-Utilities (gas, electric, water)
-Up to half of rent for the first 3 months
If this seems like it might work for you or someone you know, contact us. The next person we help could be you!
If you are interested in learning more about the Re-Housing Grant or Twin Cities Habitat for Humanity’s Mortgage Foreclosure Prevention Program, please visit us online or call 612-331-4090 ext. 3.
If you live outside of the city of Minneapolis, contact the Minnesota Homeownership Center at 651-659-9336 for more information.
Haley Wotzka, Foreclosure Prevention Counselor, Twin Cities Habitat for Humanity
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