Foreclosure Prevention
If you are struggling to pay your mortgage, more options are available to you the sooner you seek assistance. For immediate assistance, contact the Washington Homeownership Resource Center at (877) 894-4663.
Learn more about the foreclosure process.
Foreclosure Prevention Resources
- Find a housing counselor in your area (website)
- Find a HUD-approved housing counselor (website)
- Get legal help (website)
- Find out if you are eligible for property tax deferral or exemption
- Review Northwest Justice Project's best practices for representing borrowers in foreclosure mediation (PDF)
- See if your mortgage lender is exempt from mediation (PDF)
- Read the Foreclosure Fairness Act (Deed of Trust Act) (website)
- Learn about foreclosure assistance programs (website)
- Read the Washington Foreclosure Prevention Resource Guide (PDF)
- Attend a foreclosure assistance event (website)
- Find out what to do if you are late or can't make payments (website)
- Get foreclosure and mortgage assistance, and fraud information (website)
- Avoid scams and mortgage fraud (website)
- Read the Department of Financial Institutions' Guide to Home Loans (PDF)
- File a consumer complaint with the Office of Attorney General (website)
- Financial Empowerment Network
Request for Proposals: Program Administration — Foreclosure Prevention Loan Program
Funding for Program Administrators Only
Responses Due: May 6, 2024, by 5:00 p.m.
Background
The Office of Housing (OH) is committed to fostering equitable communities and enhancing housing security in Seattle. Through initiatives like the Foreclosure Prevention Loan Program (FPP), OH aims to support low-income homeowners and prevent displacement. Originally included in the 2016 Seattle Housing Levy, the FPP continues its vital role with its recent inclusion in the 2023 Housing Levy. This Request for Proposals (RFP) seeks an administrator to oversee the program in accordance with administrative plans outlined in the Levy.
Eligible Applicants
OH invites proposals from qualified organizations capable of administering the City's Foreclosure Prevention Loan Program. Essential qualifications include a minimum of four years' experience in loan origination and servicing, as well as housing counseling services or established referral relationships with Seattle-area counseling agencies. The selected administrator must demonstrate expertise in reaching underserved populations, maintaining meticulous records, providing exceptional customer service, and adhering to fair lending laws and regulations.
Funding Available
The current funding allocation for this RFP stands at $200,000, subject to adjustment at OH's discretion. The primary objective of this initiative is to provide one-time financial intervention to eligible low-income homeowners facing foreclosure. Loans of up to $40,000 can be utilized to cover various housing-related expenses, thereby enabling homeowners to sustain their residency and communities while preventing disproportionate displacement, especially among homeowners of color.
For inquiries, contact Amanda Sahali, Homeownership Programs Specialist, at amanda.sahali@seattle.gov.