Home Owner Programs
Foreclosure Intervention Counseling
AHA serves clients who are seeking assistance in obtaining a workout solution with their current mortgage holder in order to reduce monthly mortgage payments. AHA prioritizes client intervention based on where clients are in the foreclosure process. If you are facing an imminent foreclosure emergency, call the Affordable Housing Alliance at 732-389-2958.
For assistance, please:
- Click here to complete and submit the online foreclosure Intake form.
- You may download a foreclosure intervention packet to review the documentation you will be asked to provide by clicking here but do not complete or submit the application until you are contacted by an AHA foreclosure counselor.
- Click here for an explanation of these required documents.
- Once your Intake form has been submitted and reviewed, you will be contacted by an AHA foreclosure counseling support staff for a 30-minute pre-counseling session, after which your one-on-one appointment with an AHA foreclosure counselor will be scheduled.
- After you have been contacted by an AHA foreclosure counselor, you will be asked to return a completed application and copies of the requested documents to the Affordable Housing Alliance, 3535 RT 66 Parkway 100 Complex, Neptune, NJ 07753 by mail or in person. If originals are provided, they will not be returned.
- AHA will review your application to ensure complete and appropriate documentation. You will receive a missing document notice if any necessary documentation is missing. You will have two weeks to submit missing documentation.
Reversed Mortgage Counseling
According to HUD, a reverse mortgage is a special type of home loan that lets homeowners over the age of 62 convert a portion of the equity in their home into cash. The equity that has been built up over years of making mortgage payments can be paid to the homeowner. Reverse mortgage counseling is required by all lenders. Certified counselors will educate interested homeowners about a reverse mortgage, discussing the pros and cons of taking one as well as the costs involved and other alternatives.
- To get started, complete an online Intake by clicking here. Alternatively, you can download and complete an intake form by clicking here.
- You may download the reverse mortgage counseling packet by clicking here but do not complete or submit the counseling packet until you are contacted by an AHA staff person. We will contact you after receiving your online intake. Intakes may also be completed over the phone by calling 732-389-2958.
Frequently Asked Questions:
- Who is eligible? Homeowners over the age of 62 who are willing to use their primary residence as collateral. Applicants should have no delinquencies on any federal debt. Property needs to appraise for more than the unpaid principle balance if there is an existing mortgage.
- How much can a homeowner receive? This varies by loan. Some of the contributing factors include the current interest rate, the age of the homeowners and the value of the property.
- Is there a fee for counseling services? The Affordable Housing Alliance charges $125 for reverse mortgage counseling but this can be waived depending on the homeowner’s financial situation and available grant funding.
The Home Owner Workshop provides current home owners with education and tools needed to be successful homeowners. The workshop provides information on managing and budgeting money, preventative home maintenance, loss mitigation options and the foreclosure process. We recommend that all home buyers also attend a free Post-Purchase Homebuyers Workshop once they have achieved the goal of homeownership. Participants will learn more about mortgage financing, asset building, maintaining good credit, and preventive maintenance of your home to ensure its value. Click here to register. Click here for Post-Purchase Workshop dates.
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Housing Rehabilitation Program
In an effort to assist municipalities with satisfying their COAH obligations, AHA administers home rehabilitation assistance in some communities (Tinton Falls & Wall Township ONLY) that will help income-qualified households make their homes safer and more energy efficient. The purpose of the program is to bring substandard housing up to code. Substandard units are those units requiring repair or replacement of at least one major system. Complete and submit initial online Intake form
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