Our foreclosure prevention policy focus has been on developing the financing tools that allow families to stay in their homes. We have focused on strategies that combat the neighborhood destabilizing impacts of foreclosures, subprime mortgages and collapsing real estate prices.

We specialize in working with families who are in default or foreclosure to avoid eviction.

That means our mortgages are different from what you would get at a bank. Here are some important things to understand about what we offer:

We don’t require a minimum credit score.

We don’t require a down payment.

Our process takes longer than getting a typical mortgage because our team negotiates with your lenders—it could take several months to a year before this process is completed.

You may have a shared appreciation mortgage—a second mortgage you pay only if your home increases in value.

Your interest rate may be higher than the rates you see advertised by regular mortgage lenders because regular mortgage lenders usually require better credit than P-Solutions clients have.

Mortgages come with a Capital Reserve Account—a way to help you save your money for home repairs or emergencies. Watch the video “Spotlight on P-Solutions: Preserving your investment” for more information about the Capital Reserve Account.

You may want to refinance out of your P-Solutions mortgage as soon as you can because once your credit score improves you may become eligible for lower interest rates in the conventional mortgage market. A P-Solutions mortgage is just one step on your path to financial health. Watch the video “Spotlight on P-Solutions: The way forward” to learn more about refinancing.

Hear from P-Solutions homeowners on how the program positively impacted their lives.

LEARN MORE IN OUR HOMEOWNERSHIP CENTER