[R76] Mortgage and energy assistance now available to Hoosier families (3/20/2012)

Tuesday, March 20, 2012

Start Date: 3/20/2012 All Day
End Date: 3/20/2012

Mortgage and energy assistance now available to Hoosier families

Helping Hoosier families is always our top priority at the Indiana General Assembly. This year, to help families with mortgage foreclosure issues and energy assistance, we passed two critical bills.

Many Hoosiers across the state are facing mortgage foreclosure issues. House Enrolled Act 1141 establishes Mortgage Foreclosure Multistate Settlement Fund to distribute the estimated $46.8M received by the state related to litigation concerning mortgage foreclosure activities. The funds are to be used for foreclosure relief and housing programs, including housing counseling, legal assistance, foreclosure prevention hotlines and foreclosure mediation. We want to try and provide all the help we can to keep Hoosiers in their homes.

Additionally, the bill specifies that the same amount of money that is collected from the repeal of the federal Low Income Home Assistance Program (LIHEAP) sales tax is to be transferred to LIHEAP for homeowner energy assistance. This amount is predicted to range from $3.7M to $4.4M annually.

This part of the bill will really make a difference in the lives of Hoosiers during the cold winter and hot summer months, when it is hardest to pay high energy bills. Now, eligible families will be provided with energy assistance when they need it most.

I am pleased that we were able to get this twofold piece of legislation passed for Hoosier families. For further information regarding foreclosure and energy assistance programs contact the Indiana Housing Community Development Authority at 1-800-872-0371.

Also, I want to make those homeowners who have mortgages with Bank of America aware of an opportunity to receive a housing consultation to discuss their mortgage issues. Bank of America is holding a mobile tour to assist homeowners and give them recommendations on their mortgage issues. They will be in Evansville on Friday, March 30 and Saturday, March 31 between the hours of 8 a.m. and 8 p.m. at the Hilton Garden Inn Evansville at 220 Eagle Crest Drive, Evansville, IN.

These consultations will hopefully provide alternative solutions to those facing foreclosure. Bank of America mortgage customers who think this service would be beneficial to them should schedule an arrival time online at: www.bankofamerica.com/homeownerevent.