Overview: During the Foundations period, all participants in the foreclosure prevention pathway will complete a detailed budget and an action plan. This will give the coach, staff, and participant a clear picture of the participant’s goals and current financial situation. Participants should closely monitor their expenses during this time. Participants will also use the detailed budget and action plan to identify steps needed to reach a viable solution to the foreclosure.

Topics: Action Plan, FPP Create a Budget, Lower my Monthly Expenses, Plan for Emergencies and Irregular Expenses

Length: 1–2 meetings, 1–2 hours

Overview: The goal of the Loan Modification period is to review loan modification and repayment options that could fit the participant’s budget, document circumstances that led to delinquency, and identify possible appropriate solutions. In addition, participants may want to review modules that explore ways to save on monthly expenses or manage cash flow.

Topics: Mortgage Repayment Plans and Loan Modifications, Lower my Spending on Monthly Expenses, Manage your Cash Flow

Length: 1–3 meetings, 1–3 hours

Overview: To ensure participants can be on a sustainable path toward foreclosure mitigation, HomeFirst recommends participants meet the following qualifications: stable, verifiable income, sufficient income to maintain mortgage payments going forward, lender-required documents that are required for mitigation, a working budget, and an action plan.

Length: 1 meeting, .5 hours

Overview: By the end of the Foreclosure Prevention Pathway, participants should have a working/realistic budget from which to make financial decisions and understand options that may be available to prevent foreclosure. Participants will know how to contact loan servicers, receive a detailed Post-Program Action Plan, and receive referrals for continued support. All participants will be given a Post-Program Assessment at the conclusion of the program regardless of length of time in the program.

Topics: Post-Program Assessment, Post-Program Action Plan, Program Referrals