Mortgage Assistance Available for Indianapolis-Area Homeowners, Part 2

In part 1 of this series, we discussed assistance on the Federal level for Indiana residents that are in jeopardy of losing their homes to foreclosure. In addition to these national assistance programs, Indiana has a number of State-sponsored assistance programs to aid those Hoosiers in danger of losing their home to an impending foreclosure.

Unfortunately, when it comes to foreclosures, things are not looking up for Hoosiers. Just yesterday, reported that the Indy area’s foreclosure rate continues to rise.

According to the IndyStar article, mortgage foreclosure rates and mortgage delinquencies in the Indianapolis area increased in September from the previous month. This indicator is a sign that difficult times for homeowners who have mortgages on their homes will probably continue for the foreseeable future.

  • Metro Indianapolis area’s foreclosure rate of 3.62% was considerably higher than the 3.29% rate in September of last year
  • The Indy-area’s foreclosure rate was higher than the national rate of 3.48 percent in September.
  • September was the fourth straight month that the 90-day delinquency rate has risen in the metro area.

The Indiana Foreclosure Prevention Network, a coalition of community service and housing-related organizations, government agencies, lenders, realtors, and trade associations that are actively addressing Indiana’s foreclosure crisis, has established 877-Get-Hope. Hoosiers facing foreclosure, whether immediate or in the distant future, may call this confidential, toll-free help-line for assistance at no cost. Counselors are available from 8:00 a.m. to 8:00 p.m. daily.

Over the past year or so, Indiana received $221 million from the U.S. Treasury to help unemployed homeowners pay their mortgage. Earlier this year, The Indiana Housing and Community Development Authority (IHCDA) launched “Building The Bridge To Recovery (Indiana’s Hardest-Hit Fund [HHF])”, a program designed to help families who have fallen behind on their mortgage loans due to the loss of employment. Download the brochure for information about who is eligible for this program, what the requirements are, and how to apply for HHF assistance.

Non-profit agencies and organizations
The federal government’s Housing & Urban Development (HUD) agency has classified many non-profits as certified housing counselors. Get information and find a listing of Indiana HUD housing agencies.

Pathstone, a not-for-profit community development and human service organization, also provides counseling and prevention services to low-income families and economically depressed communities throughout Indiana.

So don’t despair. Help is out there. All you have to do is ask for it, even though this first step may be the hardest for many adults.

Whether you are having difficulty with your mortgage or not, you need to maintain your home’s infrastructure to keep your family safe and healthy. As the recent weather (three straight days of cold rain and snow!) indicates, winter is here. If your furnace, heat pump, or central heating system is giving you trouble, give us call at 317-639-1111 for prompt, reliable emergency repair service in Noblesville, Greenwood, Westfield, or anywhere in the metro Indianapolis area. We are here to help 24/7, every day of the year. for more information about our services, visit the Thiele Heating & Air Conditioning website.