Are you struggling to make your loan payments? Foreclosures can shatter family dreams and create a major financial setback for mid-Tennessee homeowners. Receiving a foreclosure notice can provoke fear, anxiety, and even despair. Although numerous Nashville families have had their homes foreclosed in recent years, many others have found alternatives.
If you are facing foreclosure, we can help you take the proper steps to avoid it. Our HUD-certified counselors will help you address your unique situation, assisting you in finding a viable solution to the problem and providing community resources as needed.
We assist mid-Tennessee homeowners in:
Establishing a realistic budget
Initiating a mortgage review, loan modification, or refinance
Preventing fees from late mortgage payments
Stopping foreclosures
Accessing community resources
Knowing your rights if you receive a Sheriff’s sale notice
Our HUD-approved counselors are available by appointment to speak with you, one-on-one and free of charge. There is no need to hire a private company, which may charge outrageous fees to avoid delinquency, default, or foreclosure.
The sooner we get started in finding solutions, the more options you will have. There are currently a lot of government programs that can help mid-Tennessee residents save their homes.
Woodbine Community counselors begin by understanding your financial situation and your goals. Next we can help you select the best option for your circumstance and walk you through the loan modification or refinance process. Did you know that homeowners that have received foreclosure prevention counseling usually obtain a more favorable loan modification than those without it?
1. Call our office at (615) 833-9580 to schedule an appointment
2. Complete our online intake form
3. Pay the appropriate program fee
4. Gather your initial requested information for the appointment:
a) 1 month worth of income (pay stubs, award letter)
b) 2 months of bank statements
c) Last year’s tax returns
d) Detailed monthly budget
e) Credit report
5. Keep your appointment
The federal government and the Department of Housing and Urban Development (HUD) have created several loan modification programs for primary residences. A loan modification is a permanent change to one or more of your loan terms to reduce mortgage payments and avoid foreclosure. Possible changes include: a lower interest rate, extending the life of the loan, or lowering the loan principal.
Taking advantage of loan modification opportunities involves a negotiation between you and the lender and we are here to help. Loan modification is a powerful tool in achieving greater home affordability and we can walk you through the process.
Woodbine Community Organization is dedicated to community economic development and provides services that aren’t typically available from traditional financial institutions. As an organization dedicated to community revitalization, we provide a suite of services to benefit the greater Nashville community, including financial counseling, community programs, rental housing, and homebuyer and homeowner services.
A few people around town told me to go over to WCO and see if they could help me with my situation. WCO helped me understand my situation and helped me apply for assistance through a program I didn't know existed. The result was I was able to maintain my home through this program.
One of the things I like... The counselor broke everything down by giving me examples for different situations and made me feel comfortable with the process.
