Neighborhood Development Services Reaches 100th Mortgage Rescue Loan: Many More Still Require Assistance

Neighborhood Development Services (NDS) has helped its 100th homeowner with a rescue loan for mortgage assistance.  Rescue loan funds are provided by the Ohio Department of Development through the Ohio Housing Trust Fund. They are designed to provide $2500 as a 0% loan to people delinquent on mortgage payments. The loan is due on sale, with no payments to those who meet eligibility requirements.

NDS also provides budget counseling and lender facilitation, including but not limited to workout plans, forbearance agreements and loan modifications. “Although we are pleased to have helped these homeowners the issue is still very alive and is affecting ours and many other communities daily.” Said Dave Vaughan, executive director of NDS.  He added, “We are pleased that we could assist 100 families, and are sad that we needed to and even more concerned with all those families who still need assistance.”

Recently NDS held a Foreclosure Prevention Awareness Event to allow the community access to the tools and resources that are available in this area.  “We have a long way to go in this battle, but if we continuously keep this issue on the forefront and provide resources for our community we can succeed at beating this devastating issue.” Said Liz Atkinson, foreclosure prevention specialist of NDS. She added, “this is a community issue, it not only affects the family being foreclosed upon, it affects the neighbors and neighborhoods. So I urge anyone who is facing difficult times or if you know someone who is contact NDS at 330-297-6400 and we can immediately begin the counseling process.”

NDS encourages homeowners to call immediately if you are having mortgage payment issues, the chances of receiving assistance decreases after missing three or four payments according to the Federal Trade Commission.  There is a foreclosure prevention counselor to assist homeowners with the proper tools necessary to find a solution to their problem.