After another four months of battling with her lender, her case was resolved on April 13, 2009. Her payment was reduced from $925 to $275 with a repayment-to-modification agreement!!

Ms. Patmon first sought out the assistance of ACORN Housing on May 8, 2008. At that time, she was six months late on her payments and was scheduled to have a court hearing that would have set a sale date for her home. She had owned her home outright but was convinced to refinance. After the first refinance, she was caught in the vicious cycle of refinancing every two years in order to avoid upcoming interest rate adjustments. Carolyn is disabled and her only income is her monthly disability check. With each refinance her payment had climbed higher to the point where she was only able to make one payment on this loan.

Her loan had recently been assigned to Loan Care Servicing, which is notoriously hard to deal with. A proposal was sent to them on June 2, 2008. This set into motion a 10-month fight during which Carolyn became a active ACORN member appearing in various media outlets, testifying before the Florida House of Representatives and meeting with Governor Charlie Crist.
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September 15, 2009
Success Story - Owen

Owen Moore purchased his first home with Washington Mutual in March of 2000 for $89,550. It was a thirty-year conventional mortgage with a fixed interest rate of 9.375%. His principle and interest payments were $744.83. Mr. Moore loved his home and had always made it a priority. Unfortunately, in October of 2006 Mr. Moore was laid off from his job. Mr. Moore wasnt worried though because he had enough savings to be able to make several months mortgage payments while he sought employment. However, finding a job became harder than Mr. Moore thought and in July of 2008 he defaulted on his mortgage.

Even though Mr. Moore had found employment in August of 2008 he was unaware of the help available for homeowners in his situation. Suddenly in March of 2009 he was served papers telling him he had a conciliation conference on April 23rd. On the front of these documents was a paper that said in bold black letters YOU MAY BE ABLE TO GET HELP WITH YOUR MORTGAGE and underneath gave him a hotline number. The hotline gave Mr. Moore Acorn Housings number and he was set up for his first appointment with our agency on April 16th, 2009.
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February 18, 2009
Obama Administration Announces Homeowner Affordability and Stability Plan

President Obama formally announced this morning a new $75 billion dollar plan designed to help families prevent foreclosures and stabilize hard-hit communities. The Homeowner Affordability and Stability Plan includes a loan modification program, which provides incentives for lenders to modify the loans of borrowers who are at risk of foreclosure because their incomes are not sufficient to make their mortgage payments. It also includes refinance opportunities for borrowers who are current on their mortgage payments but have been unable to refinance because their homes have decreased in value.

ACORN Housing Corp and other non-profit HUD-certified housing counseling agencies will be helping borrowers access these programs. While the program will not officially go into effect until March 4th 2009, homeowners can get started on the process NOW by filling out an application for assistance from ACORN Housing. The application is available online at www.acornhousinghelp.org or by calling 888-409-3557.

There is no fee to participate in this new program or to receive counseling from ACORN Housing. Please beware of any companies that charge you money to provide housing counseling or help modifying a delinquent loan, especially any that ask for an upfront fee.

For more information about the Homeowner Affordability and Stability Plan, go to www.financialstability.gov

January 20, 2009
ACORN Housing Corporation Launches New Foreclosure Prevention Website

Acorn Housing announced today the launching of a new website for homeowners needing help saving their homes to apply for foreclosure prevention assistance: www.acornhousinghelp.org The Acorn Housing Home Equity Loss Prevention program (HELP) assists families that are having problems making their mortgage payments by advocating on their behalf with their lender to negotiate an affordable solution. Our trained counselors are experts in foreclosure prevention and can tailor a plan of action aimed at your particular situation. To get help now, click here and fill out an application online. When completed, you can download an authorization form which you need to sign and send back to us along with any requested documents we need to prepare your case. You can also print out a paper copy of the application and send it back or call our HELP hotline for assistance at 1-888-409-3557, Monday-Friday: 8am-8pm CST, and Saturday: 9am-2pm CST.

January 6, 2009
Affordable Paterson, NJ Rentals Available

New Jersey Acorn Housing is pleased to announce that applications are now being accepted for 41 affordable housing rental apartments now under construction at 114 Straight Street. Download the application in English and Espanol

April 9, 2008
AHC builds Affordable new Homes at ACORN Glenn

Texas ACORN Housing is on pace to complete the new ACORN Glenn subdivision in 2009. Twenty-one homeowners have already moved into their new homes and with 6 more new homeowners expected in April, the subdivision is starting to shape up into a vibrant new community.

With the available subsidies, homebuyers have qualified for loans as low as $82,000 and payments as low as $850 per month (including taxes, insurance and HOA fees). The majority of homeowners have loans in the $90,000-99,000 range and monthly payments in the $900 s. Working families with incomes as low as $26,000/year have already purchased homes.
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February 25, 2008
ACORN Housing Corporation launches non-profit mortgage brokerage

ACORN Housing Corporation launches non-profit mortgage brokerage with CitiMortgage, Bank of America, First American Title Insurance Company, and Fannie Mae to help low- and moderate-income families find safe, affordable mortgages in Florida

ACORN Housing and CitiMortgage, Bank of America, First American Title Insurance Company, and Fannie Mae announced today the launching of a new non-profit mortgage brokerage called Acorn Housing Affordable Loans, LLC, to help qualified borrowers enjoy the benefits of homeownership throughout Florida. Additional offices will be launched in other states in the coming months. The new mortgage brokerage will also help homeowners faced with resetting adjustable rates that may make their current home mortgage payments unaffordable.
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