Washington Stabilization Fund Provides Rescue Loans
HomeSight and Neighborworks of Grays Harbor can now help homeowners facing foreclosure save their home with rescue loans. The Washington Homeowner Stability Fund has been created with a $5.5 million grant from the Washington State Attorney General’s Office. This rescue loan program offers qualified homeowners deferred loans of up to $30,000 at zero-to-2% interest to keep families in their homes and in their communities. The funds are administered by HomeSight in all counties except the more rural counties on the Penisula and in Southwest Washington (Clallam, Cowlitz, Grays Harbor, Jefferson, Lewis, Mason, Pacific and Wahkiakum) which are served by Neighborworks of Grays Harbor.
Homeowners will receive free foreclosure prevention counseling from a HUD-certified housing counseling agency, including HomeSight and Neighborworks of Grays Harbor. Foreclosure prevention specialists will provide clients with an assessment of their situation and review program rules and guidelines. These guidelines help determine eligibility, and the foreclosure prevention specialist will be able to explain how the program works and how the loan can help.
Homeowners should not assume they will not qualify.
Homeowners should get in touch with a HUD-certified counseling agency as soon as possible in order to start the process of saving their home and regaining stability. Interested parties can call HomeSight at 206-723-4355 or 888-749-4663, Neighborworks of Grays Harbor at 360-533-7828 or 866-533-7828, or the Washington Homeownership Resource Center at 877-894-4663. We are here to help!