Bennet Website Provides Resources to Help Homeowners

Denver, CO — Michael Bennet, U.S. Senator for Colorado, has created an online resources page on his website for Colorado homeowners facing foreclosure. “Help for Homeowners” provides links to federal and state agencies that can provide assistance to individuals and families struggling with their mortgage payments.

“Many homeowners here in Colorado are struggling to stay in their homes. These families have been through so much already, and we want to make it easier for them to find the resources they need to help them stay in their homes,” Bennet said. “With so much fraud out there, it is important for homeowners to know they are accessing HUD approved counselors and other resources that are designed to help them and not scam them.”

Bennet is also encouraging prospective homeowners to visit this site and access resources to counselors who can help families avoid predatory lending and other potential pitfalls as they purchase a new home. The online resource is the latest in a series of efforts Bennet has undertaken to provide assistance to struggling homeowners. Recently, he spoke with Colorado homeowners and housing counselors during a visit to the Colorado Foreclosure Hotline.

Last month, Bennet called on Senate Appropriations leaders to increase funding for housing counselors in Colorado and across the country as demand continues to rise. Bennet’s call for more counselors came on the heels of an Urban Institute analysis concluding that the National Foreclosure Mitigation Counseling (NFMC) Program was effective in reducing the likelihood that counseled homeowners would end up in foreclosure. On average, NFMC clients were able to reduce their monthly payments by $336 more than they would have without the program’s counseling.

Earlier in April, Bennet urged the U.S. Treasury Department to make common-sense improvements to its mortgage loan modification program to keep Coloradans from losing their homes to foreclosure. Bennet requested that the Department provide more transparency for families applying for modifications through the Home Affordable Modification Program (HAMP) and create an independent appeals process for homeowners who have been turned down for a modification.

In February, Bennet sent a letter urging the Treasury Department to forbid mortgage providers from initiating or continuing the foreclosure process until they determine whether a homeowner is eligible for mortgage loan assistance through HAMP. He was successful in getting the Department to incorporate that change into its guidelines.