Attend Foreclosure-Prevention Meeting

Homeowners are invited to attend a public meeting on the Hardest Hit Fund Rhode Island (HHFRI), a foreclosure-prevention program.

The meeting is scheduled for Monday, Jan. 30, at 6 pm at Franklin Court, 530 Wood St., Bristol.

The session will focus on the latest changes to HHFRI that have made it easier for anyone who is having difficulty making mortgage payments to get assistance.

Among the new criteria:

• Homeowners who are unemployed and believe they may qualify can now contact the HHFRI Center directly at (401) 277-1500 to get an appointment to begin the application process. Under the original program, all applicants needed to go through a HUD-approved and HHFRI-certified counselor.
• Homeowners with hardships other than unemployment will continue to seek out assistance from a HUD approved and HHFRI certified counseling agency such as the Rhode Island Housing Help Center, which can be reached at (401) 457-1130.
• Homeowners who own more than one property can now qualify for this assistance. The requirement that homeowners could not own other property has been eliminated.
• The amount families can have in savings and still qualify for assistance has been increased to $15,000. You can have any amount in a retirement account such as a 401k or an IRA.

“With these adjustments HHFRI will be able to bring relief to more Rhode Islanders and keep them in their homes," said Richard Godfrey of Barrington, executive director of Rhode Island Housing. “The purpose of this program is to prevent foreclosures and stabilize the housing market by helping homeowners make mortgage payments.”

Struggling homeowners may qualify for this program if they have a documented financial hardship, such as a sudden loss of a job, underemployment, unforeseen medical expenses, and disability of a family’s key wage earner, or costly home repairs as a result of the flooding in Rhode Island during the spring of 2010.

Also, members of the U.S. Armed Forces who have experienced a drop in income due to deployment can qualify.

The HHFRI meeting will be in English. For more information on HHFRI and the list of all community meetings, visit: www.HHFRI.org, or email: info@HHFRI.org; or call (401) 277-1500.