Lazaro and Hada, homeowners since 1999, faced losing their home due to unpaid mortgage during the housing crisis. With three weeks before auction, Housing Is Your Right intervened. By negotiating with the bank, they halted foreclosure. The outcome involved averting homelessness and preserving a multi-generational family haven.
Their Story
Lazaro and Hada purchased their home in 1999 and since then have opened it up to two more generations of their family. They were one of many families affected by the housing crisis and found themselves in $63,247 in unpaid mortgage payments.
When they were contacted by Housing Is Your Right there was only 3 weeks until their house would be put up for auction.
Course of Action
Recognizing the gravity of their circumstances, we at Housing Is Your Right were determined to exhaust all possibilities to prevent this multi-generational family from losing their cherished home.
To achieve this, we pursued a loan modification approach, which involved altering the original terms of their mortgage loan.
Our initial step was to submit a comprehensive Mortgage Modification package, accompanied by a heartfelt Hardship Letter, to initiate negotiations with the bank.