- Basic Needs
- Home Buying and Home Ownership
- Jobs Skills & Training
- Money Management
- Small Business
- Tax Credits & Information
Resources
Foreclosure Prevention
HUD approved agencies offering foreclosure prevention counseling services
A listing of the Maine HUD-approved agencies providing no cost foreclosure prevention counseling services can be found at: http://www.mainehomeworks.org/Foreclosure%20Counseling%20Agencies%20June%209,%202009.pdf
Understand the foreclosure process and your rights during the foreclosure the process
Pine Tree Legal maintains a Foreclosure Prevention Toolkit on their website designed to help homeowners who are having trouble keeping up with mortgage payments, or who are in foreclosure. For more information go to: http://www.ptla.org/foreclosure
Maine Office of Consumer Credit Protections
The Maine Office of Consumer Credit Protections oversees the new Lender Pre-Foreclosure Notice Law. For information go to: http://www.maine.gov/pfr/consumercredit/index.shtml
Refinancing Options
The Federal Government has created the Making Home Affordable mortgage program designed to help homeowners who pay their mortgages on time but are not able to refinance to take advantage of today’s lower mortgage rates perhaps due to a decrease in the value of their home OR are struggling to make their monthly mortgage payments perhaps because their interest rate has increased or they have less income. For more information go to: www.MakingHomeAffordable.gov
Several sources of mortgage monies and financial assistance for home buyers
Maine State Housing Authority
The Maine State Housing Authority offers several loan and grant programs to assist families and individuals achieve their homeownership goals.
Midcoast Redevelopment Mortgage is MaineHousing’s low, fixed rate mortgage program available to eligible homebuyers in the 16 cities and towns most affected by the closing of the Brunswick Naval Air Station. To learn more go to: http://www.mainehousing.org/HOMEBUYERProgramsDetail.aspx?ProgramID=68)
The Gift of Green – The Gift of Green initiative will provide eligible first-time homebuyers with a grant of $2,500 to help with the cash needed for closing, plus a coupon worth $500 towards a two-part home energy audit. To learn more go to: http://www.mainehousing.org/GiftofGreen.aspx
Homebuyer Tax Credit
The Worker, Homeownership and Business Assistance Act of 2009, which was signed into law on Nov. 6, 2009, extends and expands the first-time homebuyer credit. For more information: http://www.irs.gov/newsroom/article/0,,id=204671,00.html
USDA – Rural Development
Rural Development offices in Maine offer Single Family mortgage monies to income eligible households in their lending areas.
Section 502 Guaranteed Loans — Loans are made by mortgage lenders and guaranteed by USDA Rural Development to low and moderate income applicants to buy or build homes in rural areas of Maine.
Section 502 Direct Loan Program – Low interest loans are made directly by Rural Development to applicants whose incomes are less than 80 percent of the median income for the area.
To learn more about the Section 502 Guaranteed Loans and the Section 502 Direct Loan Program go to: http://www.rurdev.usda.gov/me/SFH/sfh.htm
HUD – FHA
The US Department of Housing and Urban Development has a mortgage insurance program called FHA. It is generally easier for you to qualify for an FHA loan than a conventional loan. FHA has a low 3% downpayment, and FHA has many options to help keep you in your home and avoid foreclosure.
To learn more about FHA go to: http://www.hud.gov/offices/hsg/fhahistory.cfm
Tax Coalition Volunteers Help Return More Than $750,000 to the Local Economy
The Midcoast Maine Creating Assets, Savings, and Hope (CA$H) coalition had another record-breaking tax season, helping 443 taxpayers file federal and state income taxes that resulted in about $763,000 worth of federal and state refunds going back to the local economy.
Struggling families get free tax prep help from Midcoast CA$H
Families struggling to make ends meet shouldn’t have to pay to get their tax refund and, in Maine, they don’t – thanks to the Midcoast Creating Assets Savings, and Hope (CA$H) Coalition. Midcoast CA$H offers free tax preparation from Jan. 22-April 14, 2012 to anyone who earned less than $50,000 in 2011 (combined income).
Call 207-319-1390 to make an appointment starting Jan. 9, 2012. Or 207-373-1140, ext. 206 for more details.
Maine Residents Property Tax and Rent Refund “Circuit Breaker” Program
Maine’s Circuit Breaker program allows eligible Maine residents to receive a partial refund of property taxes and/or rent paid on their primary residence. For more information: http://www.maine.gov/revenue/taxrelief/tnr.htm
Maine Centers for Women, Work and Community/WWC
WWC provides training, advocacy and assistance in four program areas: Building a Career; Starting a Business; Managing your Money; and Becoming a Leader. For more information go to: http://www.womenworkandcommunity.org/