Real Estate Central

ST. PAUL, Minn., July 31 /PRNewswire/ — The Minnesota Home Ownership
Center’s statewide network of counselors is standing by to answer home
owner questions regarding the new federal HOPE Act, which was signed into
law on Wednesday. As of October 1, the HOPE Act will provide refinancing
options to home owners struggling to keep up with their mortgages, as well
as tax credits to eligible home buyers.

“This year 80,000 Minnesotans are expected to miss a mortgage payment,”
noted Julie Gugin, executive director of the Minnesota Home Ownership
Center. “Our network of counselors at nonprofit agencies across the state
is ready to help home owners navigate the HOPE Act, and to help those who
cannot wait until October for assistance.”

The Minnesota Home Ownership Center is the state’s independent,
nonprofit resource for education, counseling and information services for
both home owners struggling with foreclosure and first-time home buyers.
The Center has a network of 17 nonprofit agencies offering foreclosure and
mortgage support counseling services to all Minnesotans. Counseling through
the Center’s network is free and counselors are equipped to advocate on
behalf of home owners with lenders. Last year, the Center’s network of
counselors helped nearly 9,000 Minnesota home owners struggling with
potential foreclosure.

In addition to mortgage support counseling, another 30 nonprofit
agencies statewide offer the Center’s Home Stretch course for first-time
home buyers and free, one-on-one home buyer counseling services.

“Since 1993, the Minnesota Home Ownership Center has provided free
counseling, information and education to home owners and home buyers. We
encourage Minnesota home owners and potential home buyers to contact us at
(866) 462-6466 for help understanding the HOPE Act and how it affects
them,” added Gugin.

For fact sheets about the HOPE Act, or to locate a counselor in your
area, visit the Center online at http://www.hocmn.org.

Minnesota Home Ownership Center is a nonprofit organization that
promotes successful and sustainable home ownership for low- and
moderate-income Minnesotans through counseling and education services for
first-time home buyers and home owners struggling with their mortgage or
foreclosure.

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[Via Real Estate Newswire]