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- EIN 27-2587513
- (602) 771-1000
- 1110 W Washington St Ste 280 Phoenix AZ 85007-2963 USA
- www.azhousing.gov
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Nonprofit Overview
Causes: Philanthropy, Philanthropy, Charity & Voluntarism Promotion
Mission: On february 19, 2010, president obama announced 1. 5 billion in funding for innovative measures to help families in the states that have been hit the hardest by the aftermath of the burst of the housing bubble. The organization was establisted as a not-for-profit organization for the purpose of acting as an eligible entity under the guidelines and receiving, holding, and disbursing funds under the requirements of the u. S. Treasury department for the purpose of assisting arizonans to prevent foreclosure of their homes. The organization provides the following program assistance: principal reduction assistance, second mortgage assistance, and unemployment mortgage assistance.
Programs: Principal reduction assistance: help homeowners avoid foreclosure by permanently modifying a borrower's primary mortgage to achieve a monthly payment that does not exceed 31-31% of the borrower's monthly income depending on the agreement with the servicer.
second mortgage assistance: help homeowners avoid foreclosure by eliminating a second mortgage to reduce the likelihood that a borrower will re-default under its primary loan as a result of the burden of a second mortgage.
unemployment mortgage assistance: provide assistance for a set period of time and/or maximum dollar amount so a qualified borrower can search for work or obtain job training without fear of losing their home. The purpose of the program is to assist borrowers until they can obtain sufficient income to resume scheduled mortgage payments, or qualify for a modified mortgage payment.
short sale assistance: provides eligible sellers the funds needed to relocate when a short sale has been approved by the homeowner's servicer.