Low Rate Loans

Michigan State Housing Development Authority

• The Michigan State Housing Development Authority offers information and resources on its website for homeowners facing foreclosure. The site features information about the Michigan foreclosure process and guidance to help homeowners work with loan servicers to avoid losing their homes. The site offers tips for consumers about improving credit after financial difficulties and information about prioritizing debts to avoid a financial crisis. The MSHDA also provides an online database with contact information for foreclosure counseling agencies, which homeowners can search according to their county of residence. For residents who have lost homes or need help with basic needs, the MSHDA provides contact information for agencies that can help with food, household items, medical care or furniture.

Legal Help

• Certain nonprofit organizations offer low-cost or pro-bono legal assistance for qualified homeowners facing foreclosure. The Michigan Foreclosure Prevention Project works in association with seven legal aid agencies throughout the state to provide legal representation for homeowners dealing with foreclosure. The Michigan Poverty Law Program helps low-income residents dealing with civil matters in areas such as housing and family law. Michigan Legal Services serves as an advocate for low-income communities and provides legal representation for the homeless and households facing the loss of housing. Legal Services of South Central Michigan provides free legal representation and advice for senior citizens and low-income households faced with eviction, property tax foreclosures and mortgage foreclosures.

HUD Counseling Services

• Foreclosure avoidance counseling offered by the United States Department of Housing and Urban Development can help qualified homeowners avoid foreclosure. HUD features a database of foreclosure avoidance agencies on its website, which Lansing homeowners can search to find counselors in their local area. HUD-approved counselors do not charge a fee for their services and can help homeowners determine their eligibility for foreclosure avoidance programs offered by the federal government.

Making Home Affordable Program

• The Making Home Affordable Program serves as the foundation for the federal government’s strategy to improve the United States economy and prevent homeowners from losing their homes in foreclosure. HUD and the Department of the Treasury administer MHA programs, which can help homeowners through mortgage payment deferments or loan modifications. Qualified homeowners can reduce their mortgage payments through the Home Affordable Modification Program. MHA’s Home Affordable Refinance Program helps homeowners obtain refinance loans when their homes have lost market value. Homeowners who have lost jobs can receive loan deferments of three months or longer through MHA’s Unemployment Program.