November 14, 2013
Boston – Senator Richard J. Ross (R-Wrentham) is pleased to announce the introduction of a new initiative created by Attorney General Martha Coakley’s HomeCorps program and the Midas Collaborative. The financial coaching services offered will assist low and moderate income residents with financial stability and recovery.
This new initiative is the result of AG Coakley’s HomeCorps Crisis Response Innovation Grants, which are supported by funding from the nationwide settlement involving the nation’s five largest mortgage servicers and their connection with unlawful foreclosures and loan servicing.
“Financial instability is an issue that continues to plague countless individuals and families across the Commonwealth,” said Senator Ross. “This initiative provides a valuable resource of financial information and services. I encourage all those in need to take advantage of this program.”
The HomeCorps program supports various foreclosure prevention and mitigation services throughout the Commonwealth, including loan modification assistance, free direct legal representation to distressed borrowers and post foreclosure stabilization assistance to families.
With the grant funding, Midas will host the Financial Confidence Campaign, a multiplatform, statewide effort to distribute critical financial information and individual assistance. Services include:
- MassSaves.org: An interactive website with credible, consumer-benefitting financial education information and tools. Resources provided are both general and Massachusetts-specific.
- Personal financial counseling, referrals to services, and coaching to underserved residents by phone, email, or video chat applications to address issues with budgeting, credit, foreclosure prevention, and more. The “remote” after-hours communication will assist residents with scheduling and transportation challenges.
- Collection of information on local trends, irregularities, and predation in the financial services marketplace to protect consumers and inform service providers, regulators, and policymakers.
Interested constituents can access these new resources by visiting MassSaves.org or calling 855-721-7575. Homeowners struggling to pay their mortgage or facing foreclosure should contact the AG’s HomeCorps hotline at 617-573-5333.
“We look forward to expanding our services to people in rural areas who may be struggling, or simply inspired to get more information and form a plan for their financial futures,” said Margaret Miley, Executive Director of The Midas Collaborative.
“These grants are designed to provide direct assistance to Massachusetts residents who face financial challenges including the risk of foreclosures,” Attorney General Martha Coakley said. ” We are pleased that The Midas Collaboration will use this funding to help consumers access critical financial education and counseling services.”
Please contact the office of Senator Ross with any questions or concerns at (617) 722-1555 or Richard.Ross@masenate.gov.