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Resources for Homeowners


Resources for Homeowners

Long-term successful homeownership requires work.  The Minnesota Homeownership Center has brought together tools and resources for homeowners to help!


Struggling with your mortgage? Already behind on your mortgage?  Speak with a FREE, effective non-profit homeownership advisor today.

Click here to read more!

Personalized refinance counseling sessions give you the opportunity to compare a current mortgage with a new mortgage or second mortgage.

Homeownership Advisors take time to compare the terms with you, and to tell you what those changes will mean for your financial situation – in real terms.

In Minnesota, if you have a “special mortgage” – like a loan from a government agency or nonprofit organization or other unique conditions – state law requires you obtain a certificate from a qualified Refinance Counselor before you refinance your loan.

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An easy-to-use resource listing home repair and rehab assistance programs throughout the state of Minnesota. Programs included in the resource include:

YellowBullet   Emergency repair

YellowBullet   Energy efficiency upgrades

YellowBullet   Lead hazard abatement

YellowBullet   General repair

Some funds are direct grants to homeowners and others are loans, usually with below market interest rates or forgivable terms. The resource outlines dozens of programs available throughout the state and includes information on who to contact and how to apply.

Click here to read more!

Successful homeownership needs financial management and good use of credit. Resources for homeowners on how to manage your money effectively and make wise financial decisions are included in our FREE PDF document to help connect you with the following services:

YellowBullet   Trustworthy credit repair & debt management assistance

YellowBullet   Financial literacy classes (budgeting, debt reduction, asset building, building a good credit rating, consumer protection and how to work with banks and lenders)

YellowBullet   Individual Asset Development / FAIM program information (matched savings accounts)

Click here to read more!

  • Reverse Mortgage Counseling

A reverse mortgage, also known as a Home Equity Conversion Mortgage, or HECM, is a mortgage loan that allows homeowners aged 62+ to convert a portion of their home equity into cash or a line of credit while they continue to live at home for as long as they want.

A Reverse Mortgage is a mortgage loan and must be repaid.

Reverse Mortgage options include adjustable and fixed rate loans. Borrowers can decide to take a line of credit with flexible draw down options, a term loan with fixed monthly payments for a specified number of years, or a tenure plan with guaranteed payments for life – or a combination of these options.

If you or someone you know is considering a reverse mortgage, you must get Reverse Mortgage counseling from a HUD-Approved Counseling agency to help you understand your goals with a reverse mortgage, explain different options available to meet your needs and help you avoid potential pitfalls and fraud.

The Center works with three organizations that offer Reverse Mortgage Counseling in Minnesota:

YellowBullet   Community Action Partnership of Hennepin County: (952) 697-1326

YellowBullet   LSS Financial Counseling: (888) 577-2227

YellowBullet   Reverse Mortgage Counselors, Inc.: (888) 690-7829