Helping Hoosier Homeowners
Oftentimes, the Clinic is able to help a client navigate the situation with a lender to get a modification or some other kind of workout to lower their mortgage payment. Additionally, depending on the hardships they have experienced, homeowners may be eligible for a reinstatement program called the Indiana Hardest Hit Fund. For Michael, discovering the best kind of workout for his clients is rewarding. “I enjoy collaborating with homeowners to bring about a lasting and sustainable change in what is often the single largest expense of a household,” he says.
Making the Impossible, Possible
For months, one thing after another kept happening to Claire. She was in a car accident. Then, the kitchen sink needed to be repaired. After that, her twin daughters, who were both disabled, fell ill and needed extra in-home care and therapies. Already stretched to the max with her budget, these unexpected expenses pushed her past what she could possibly pay on her limited Social Security Disability income. She began to fall further and further behind on her mortgage.
Building Wealth
Ultimately, Lisa was surprised by how much she learned, although originally she was hesitant to participate in the Building Wealth program. She says, “I felt like I had a lot of advantages that I had squandered and here I am in this situation.” She admits to feeling ashamed of needing help in the first place, but acknowledges her delays in seeking assistance only made her financial recovery that much harder. “The sooner you realize you are about to go off that cliff, you should pick up the phone and call. If you think it’s hard now, it does get worse,” she says. “If you can head it off at the pass, it makes it easier.”