Friday, January 6, 2012

Financial Assistance For Homeowners Displaced By Foreclosure


Due to the success of a pilot program initiated in late 2009 and the generous support of the Otto Bremer and Target Foundations, the Minnesota Homeownership Center announces the availability of financial grants of up to $2,500 to help cover the costs of moving to alternative housing after a foreclosure.  The goal of the grants is to assist Minnesota homeowners with the difficult transition from homeownership back into a rental situation, and to prevent homeowners that were unable to prevent the foreclosure of their home from becoming homeless.


The counselors of the Homeownership Advisors Network (housing counselors) are AMAZING at the work they do to keep homeowners in their homes whenever possible.  However,  foreclosure is inevitable for some families... and these grants allow the members of the network to keep a difficult situation from becoming a tragic one.


Currently, these grants, known as Re-Housing Grants, are only available to qualified homeowners in the City of Saint Paul and Dakota & Washington Counties.  Interested homeowners should contact the Minnesota Homeownership Center for information on how to connect with a member of the Homeownership Advisors Network that is participating in the program.  Teams established by these non-profit counseling agencies will help homeowners determine if they are eligible for one of these grants based on established criteria:

  • The applicant has not previously received a grant from this or a similar program.
  • The Foreclosure Sale has occurred and retaining ownership is unlikely and relocation is needed.
  • limited income and/or excessive but necessary expenses have prohibited the homeowner from saving enough money to secure alternative housing.
  • The full monthly rent payment in the alternative housing will be affordable, long-term, for the applicant.

Homeowners who are interested in learning more are encouraged to contact the Minnesota Homeownership Center at 651-659-9336 or by visiting www.hocmn.org.


UDPATE:  Funding is available for the ENTIRE SEVEN COUNTY METRO!  (Anoka, Carver, Dakota, Hennepin, Ramsey, Scott and Washington Counties).  For information on who to contact, the Center has established a page on their website, here:  http://hocmn.org/en/rehousing.cfm

4 comments:

  1. Thanks for sharing this news. Is the Re-Housing Grant program likely to be expanded beyond the City of St. Paul and Dakota and Washington counties? I have a client in Dakota county that I'll be referring to this program, and another in Hennepin who could also benefit but lives outside the program's jurisdiction. It's such a shame when someone doesn't qualify for much-needed help because they live in the wrong town or county.

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  2. @Anne... Good News! There is now funding for clients in the SEVEN COUNTY METRO. Visit our website (http://hocmn.org/en/rehousing.cfm) for the providers to contact in each of the metro counties. Thanks for reading and commenting!

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  3. That is great news, thanks for the update!!

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  4. This is a good post for re-housing process.

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