Foreclosure assistance seeks to help troubled homeowners to avoid foreclosure and to keep their homes. In the state of Massachusetts foreclosure assistance can be obtained directly or indirectly from the government. Additionally other institutions also offer this assistance; assistance and grant programs, not for profit organizations (NGO’s), banks and mortgage generators.

Mass-Housing Home Saver Foreclosure Prevention Program

Under this program $250 million is set aside to finance the program so as to be able to provide fixed-interest rate refinancing loans and counseling services to struggling subprime borrowers (borrowers who acquired mortgage without adequate qualification for the mortgage). The counseling services can also help you with the payment of your debts on your behalf. To qualify you must proof that: you and/or your spouse are employed and earn an income that can cover the new monthly payments; you have at least a credit score of 560 points for a single-family home, 580 points for a 2 family home, or a 620 points for a 3 or 4 family home. To get access to this assistance dial 800.882.1154 and you will be served.

Mortgage Relief Fund

It is a $125 million mortgage relief fund, targeting to aid all New England homeowners current in their current mortgage payment and loan(s), but are experiencing or expect to have some difficulties in making the monthly payments should the rates reset in the near future. This program avails to these borrowers a range of mortgage products such as FHA and FHA Secure, state assistance programs among other programs. You are entitled to this help if you occupy the property. The value of the home exceeds the total mortgage loan(s) balance. The homeowner is current on the mortgage and that you have a constant income. To get more information about this you can consult with your lender and/or dial 800.288.6225.

Government funded Home-Corps program

This program is a creation of the Massachusetts state and receives support from the federal government through grants other contributions arising from recently settled foreclosure-related fraud lawsuits, this program targets both the lender and borrower as explained below:

  1. Loan Modification Initiative; seeks to assist distressed borrowers and borrowers with a low income, by providing direct loan modification advocacy. This modification helps avoid unnecessary foreclosure or stop foreclosure proceedings and also provides them with general counseling.
  2. Borrower Representation Initiativea key service under this program which seeks to provide direct legal representation to defaulting borrowers. These legal services help a borrower to attain loan modifications or a short sale, stop foreclosure, or to pursue other claims at no cost to these debtors.
  3. Home-Corps Borrower Recovery Initiative since not all homes can be saved especially if you have many missed payments to catch up on. This initiative is for you and what to expect here is assistance to stabilize your housing situation so as to prevent you from being homeless or getting you an new house. To get more information and guidance about this program you can call Home-Corps hotline (617) 573-5333.


The above programs are not exhaustive thus there are other existing programs in Massachusetts.