Facing Foreclosure? Contact the HomeCorps Hotline at (617) 573-5333
Addressing the foreclosure crisis is one of the most important things we can do to restore a healthy economy. Utilizing funds stemming from the nationwide state-federal settlement over unlawful foreclosures, the Attorney General’s Office launched a statewide foreclosure prevention and borrower support initiative called HomeCorps.
The goal of the Attorney General’s HomeCorps is to mitigate future impacts of the foreclosure crisis by providing advocacy to distressed borrowers in Massachusetts facing foreclosure. The HomeCorps includes a comprehensive three-part borrower support and referral initiative.
If you are facing foreclosure, the HomeCorps may be able to help by offering access to some of the services listed below. Contact the HomeCorps Hotline at 617-573-5333.
HomeCorps Loan Modification Initiative
The Loan Modification Initiative offers direct loan modification advocacy to distressed Massachusetts borrowers, in order to help many residents avoid unnecessary foreclosure. The Initiative is staffed by a statewide team of skilled Loan Modification Specialists.
The Borrower Representation Initiative will provide direct legal representation to distressed borrowers, with the goals of resolving legal issues preventing loan modifications, blocking unlawful foreclosures and pursuing other potential claims. Attorneys at civil legal aid offices across the state will be funded by HomeCorps to provide these legal services at no charge to qualifying borrowers.
The Community Based HomeCorps program will work directly with families and individuals facing foreclosure as well as provide referral services for families who need to transition from homeownership. The goals are to expand the network of providers using the AGO HomeCorps mediation model while assisting former homeowners in preventing homelessness. Staff at selected nonprofit organizations statewide will provide loan modification application assistance and referral to stabilization services as well as available benefit programs and financial counseling providers.
Information on the 2012 Loan Modification Statute, Chapter 194 of the Acts of 2012
Notices Required by G.L. c. 244, §35B(c)
Pursuant to Chapter 194 of the Acts of 2012, Section 35B of Chapter 244 requires creditors holding “certain mortgage loans,” as defined in Chapter 194, to notify borrowers of their rights to pursue a modified mortgage loan. The notice is required to include the appropriate contact information for modification assistance within the office of the Attorney General. Creditors sending notices under Section 35B should include the required contact information as follows:
The Massachusetts Attorney General’s HomeCorps program is available to assist eligible borrowers with obtaining a loan modification. The HomeCorps program may be contacted at:
PH: (617) 573-5333
TTY: (617) 727-4765
In addition, a copy of the notice must be filed with the Attorney General. See M.G.L. c. 244, §35B(c). HomeCorps is working to develop an online portal to assist creditors with submission of these notices. In the interim, creditors are strongly encouraged to submit the required notices electronically, as detailed on this form .
For additional information regarding the forthcoming regulations, please visit the Division of Banks website.
Information for Consumers
Consumers Struggling with Their Mortgage
If you are struggling with their mortgage, the HomeCorps may be able to help by offering access to loan modification advocacy or other services. Contact the HomeCorps Hotline at 617-573-5333.
Consumers whose mortgage is serviced by one of the seven banks involved in the state/federal settlement may also choose to contact their servicer directly to discuss loan modification and refinancing options.
Mortgage Servicer Hotlines:
Bank of America: 1-877-488-7814
Wells Fargo: 1-800-288-3212
Consumers who have issues or concerns relating to their mortgage servicer or other concerns can submit a consumer complaint.
The Servicemembers Civil Relief Act, SCRA, prohibits foreclosures on servicemembers without court orders on mortgages that were originated before military service began. The recent settlement agreement includes substantial financial compensation to homeowners who are servicemembers and establishes new protections for servicemembers in the future. The settlement extends this protection to all servicemembers, regardless of when their mortgage was secured, if they were receiving Hostile Fire/Imminent Danger Pay and were stationed away from their home within nine months of the foreclosure.
Servicemembers and their dependents who believe that their SCRA rights have been violated should contact the nearest Armed Forces Legal Assistance office. Additional information about the SCRA and the other laws protecting servicemembers is available at www.servicemembers.gov.
Servicemembers and their families who have received notice of an auction date may also contact the HomeCorps Hotline at (617) 573-5333.
Since 2007, AG Coakley has been a national leader in addressing the foreclosure crisis by holding banks and investment giants accountable for their role in the economic downturn. Her office has already recovered more than $850 million in relief for Massachusetts homeowners and investors. The Attorney General’s Office has ongoing investigations into the foreclosure crisis and will continue additional efforts to stabilize the housing market in Massachusetts.
HomeCorps Partnership Grants:
The Attorney General’s Office has also released two broad Partnership Grants designed to complement the goals of the HomeCorps and support recovery and stabilization in Massachusetts cities and towns. Partnership Grants will be awarded to qualifying nonprofit and governmental entities in two areas:
This grant program is designed to support and fund strategies and programs across the state which support distressed borrowers and prevent foreclosures.
This grant program is designed to support and fund strategies and programs across the state which support the Commonwealth’s recovery from the foreclosure crisis, and combat its negative impact on our neighborhoods and housing stock.
The HomeCorps and HomeCorps Partnership Grants are funded through a payment in the recent foreclosure settlement to the Commonwealth that will be used to assist homeowners.