Foreclosure Mitigation Counseling Initiative

The Pennsylvania Housing Finance Agency (PHFA) has established the Foreclosure Mitigation Counseling Initiative to help interested homeowners to save their homes. Fifty-one counseling agencies in the PHFA Comprehensive Housing Counseling network are participating in this program.

Mortgage foreclosure mitigation assistance will be made available to homeowners of owner-occupied homes with mortgages in default or in danger of default. These mortgages may be subject to a foreclosure action. Homeowners will be provided with such assistance that will consist of activities that are likely to prevent foreclosures and result in the "long-term affordability" of the mortgage or other positive outcomes for the homeowner.

The counseling sessions associated with this initiative are FREE services to the homeowner and will involve a reasonable analysis of the borrower's financial situation, an evaluation of the current value of the property that is subject to the mortgage, and/or counseling regarding the possible purchase of the mortgage in question. Counseling and advice of all likely restructuring and refinancing strategies or the approval of a workout strategy by all interested parties is required.

Interested homeowners should contact a participating FMCI counseling agency to set up an appointment.