Unable to pay their mortgages, families have used up their savings and in the end have faced foreclosures. Jon Polansky’s mission is to explain the foreclosure process and possible alternatives to foreclosure.
As CSC’s Mortgage Counselor, Jon has helped countless families with the daunting task of negotiating and fighting to stay in their homes. “Solutions to problems are often buried in paperwork, unable to be interpreted by the homeowner, and missed by the lender,” said Polansky.
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| CSC Mortgage Counselor John Polansky |
In Linn, Benton, and Lincoln counties, CSC has assisted 405 families with mortgage payments to keep their homes. In one case, a 58-year old Linn county man had depleted his 401k and was afraid to contact his mortgage loan servicer of ten years. Polansky encouraged him to come into the office and together, they contacted the loan servicer.
The collection department had no solution since he had no income. They called customer service, asked some probing questions, and found the man had paid his loan twice a month for ten years. It pushed the paid-through date to the summer of the following year.
Polansky also recalled the example of an elderly woman that was three months behind in paying her mortgage. She had no savings, but qualified for a reverse equity mortgage, which would allow her to stay in the home she has lived in for 32 years.
However, a credit card judgment appeared after the loan closing papers were prepared. The law firm representing the credit card company wanted to be paid before the loan closed. The loan would have provided the elderly woman with the money she lacked to pay the judgment.
The law firm refused her request to wait until the loan closed. After looking for help, she was referred to CSC’s mortgage counseling program and contacted Polansky. Polansky called one of the firm’s partners on her behalf and the issue was resolved in her favor within three business days. With CSC’s help, the woman was able to satisfy the judgment and remain in her home.
If you are struggling to stay in your home, CSC’s Housing Services may be able to help. Contact us at 866-245-1780.
