Lazy days of summer… NOT!

Don’t we always talk about the lazy days of summer….? Not so with Family Management Financial Solutions’ foreclosure prevention program!! Our foreclosure prevention team of Christi, Linda & Katy, have been busy this summer pursuing home retention options for our Iowa Mortgage Help clients!

In June, we took over the Iowa Mortgage Helpline following the closure of the Des Moines Iowa Mediation Services office. During the months of June, July and August, besides taking helpline calls that were directed to other Iowa Mortgage Help partnering agencies, our team has accomplished the following:

• Christi & team have done 104 intake counseling sessions providing clients with basic direction with the mortgage mediation process and referral to Iowa Legal Aid, as needed.
• Linda met with 75 clients to prepare a file for mediation and 62 clients completed the process and were sent on for mediation.
• Katy, Linda and Christi were all busy making contacts and presenting cases to 25 different mortgage lenders, including Wells Fargo, Bank of America, Ocwen, US Bank, Nationwide, NationStar… just to name a few.
• We closed 42 cases, 66% of them being offered a work-out solution with their lender, stopping an active foreclosure and enabling the clients to keep their home.
• 39% of the cases were offered a modification where their interest rate and/or payment stayed the same or was reduced.
• The remaining 34% of the cases were offered legal services to delay the foreclosure and provided counseling to help them explore their options and make decisions for their transition into alternate housing.

We thank our many partners in the Iowa Mortgage Help network, including Iowa Finance Authority, the Attorney General’s office and Iowa Legal Aid, along with our other housing counseling agencies. Since our goal at Family Management is to enable more Iowans to remain in their homes, we are pleased to report these successes!