Pro-Home Saving Homeowners from Foreclosure

by | BiggerPockets.com

According to NBC’s Providence/New Bedford, affiliate station, there is a new non-profit group, Pro-Home, Inc., based in Taunton, Massachusetts, that is counseling homeowners who are facing foreclosure. While many investors salivate at the prospect of picking up foreclosed properties, it is a serious issue that many people face across the country.

Experts say many homeowners help create the problem by letting aggressive lenders pressure them into homes they can’t afford.

Mary-Ellen Rochette, Pro-Home executive director, said some on-line mortgage companies offer loans in which homeowners don’t need to prove income and are qualified for much more than they can afford.

And then, a few months later, she said they’re behind and can’t even get refinanced because they bought way over their means.

Its good to know that there is a non-profit out there helping this underserved group of people. They’re going to have a lot more work on their hands as interest rates climb.

More on Pro-Home

About Author

Joshua Dorkin

Joshua Dorkin is a serial entrepreneur, investor, podcaster, publisher, educator, and co-author of How to Invest in Real Estate. He started BiggerPockets to help democratize the real estate investing landscape for himself and others, aiming to make it accessible for everyone, regardless of income or education. Today, BiggerPockets is the premier real estate investing website online with over one million members and reaching over 70 million people with the message of financial freedom through real estate investing. Joshua, along with his wife and three daughters, make their home in Denver, Colorado, and spend any time they can traveling, exploring, and adventuring. Read more about Joshua’s story in 5280 and Inc.com.

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