As homeowners struggle to recover from the pandemic and deal with soaring inflation, some risk losing their homes to a strict and often rapid tax lien foreclosure process.
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amend the regulation on the mandatory meeting that mortgage servicers must have with borrowers early in the default process.
Read More about Group Letter Commenting on HUD's Proposed Rule on Borrower Engagement
NCLC submitted comments on HUD's proposed rule to amend the regulation on the mandatory meeting that mortgage servicers must have with borrowers early in the default process.
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This letter follows up on the joint August 24, 2023 letter to HUD on partial claim eligibility.
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The Underserved Mortgage Markets Coalition (UMMC) represents 30 national affordable housing organizations which are firmly committed to working with FHFA and the GSEs to increase affordable housing of all types in underserved markets. The coalition offers these policy recommendations to allow the GSEs to increase affordable housing opportunities and further the public’s understanding of their…
Read More about Letter to FHFA Director Sandra Thompson from Underserved Mortgage Markets Coalition
This National Center on Law & Elder Rights training will focus on one of the most important ways to prevent tax foreclosure: ensuring that low-income and older homeowners have access to all available exemptions and discounts. Many older adults who are at risk of tax foreclosure have not taken advantage of all the existing tax…
Read More about Preventing Tax Foreclosures for Older Adults: Accessing Tax Relief Options
NCLC joined with mortgage industry trade associations to urge VA to create a public process for commenting on their program to provide assistance to VA borrowers.
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This letter asks HUD to expand eligibility requirements for the partial claim to borrowers who have quickly recovered from their hardship.
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The National Consumer Law Center urges the Bureau to modify the mortgage servicing rules in Regulation X, 12 C.F.R. Part 1024, to provide consistent, fair, and transparent protections to borrowers across the mortgage market. NCLC requests that the Bureau remove the HELOC exemption from Regulation X sub-part C; remove the reverse mortgage exemption from Regulation…
NCLC, on behalf of its low-income clients, submitted the below comments on the draft of the HECM Handbook, Section 4000.1. The reverse mortgage program was created by Congress to allow older homeowners to tap into their home equity without increasing the risk of displacement. In implementing the program, HUD is tasked with a dual mission…
States Can Take Steps to Prevent Property Tax Foreclosures and Preserve Homeownership and Transfer of Intergenerational Wealth BOSTON – A new report from the National Consumer Law Center (NCLC) looks at the unique issues heirs face when inheriting a home with an overdue property tax bill and the disproportionate impact on Black and Latino wealth…
Homeowners who fall behind on their property taxes risk the swift loss of their homes through tax foreclosures if they cannot pay off the back taxes owed, plus any interest, fees, costs and penalties thathave accrued. The accumulated amounts needed to resolve the tax debt can be overwhelming and resultultimately in the loss of their…
Read More about Heirs Should Not Be Subject to Florida's Homestead Tax Exemption Penalty
