Homeownership Connection

Programs & Resources
for Homeowners  

Mortgage Foreclosure Counseling
Home Improvement Loans
Energy Assistance & Weatherization Grants
Split Visions Remodeling Plan Book
Green Remodeling Plan Book
Apple Valley Mobile Home Replacement Program

NEWS for Homeowners

Making Home Affordable Program
The federal Making Home Affordable Program was launched to offer mortgage relief to homeowners who have fallen behind or who are struggling to make their mortgage payment. Homeowners may be able to refinance or modify their mortgage loan, depending on their situation.

For program information and eligibilities, please visit: www.makinghomeaffordable.gov or call the Dakota County CDA’s foreclosure intake line at 651-675-4555 to speak with a housing counselor.

Making Home Affordable Fact Sheet

CDA Part of New Statewide Effort to Prevent Foreclosures
The Dakota County is participating in a new partnership with the Minnesota Home Ownership Center and Fannie Mae. Through this new partnership, Dakota County CDA’s free foreclosure prevention counselors will have direct access to local Fannie Mae staff solely dedicated to making loan solutions faster and easier for area homeowners with loans that are owned by Fannie Mae.

This new partnership will allow the Dakota County CDA and other non-profit foreclosure counselors across the state to involve Fannie Mae, the loan owner, also known as the investor, in the loan mortgage workout process at the outset of a request for help.

Previously, foreclosure counselors and homeowners worked with a lender or servicer’s loss mitigation department for months to secure a loan modification and prevent foreclosure. Under this new process, that wait time may be trimmed to a matter of days or weeks.

To find out if their mortgage is owned by Fannie Mae, homeowners may ask their mortgage servicer, check online by using the Fannie Mae Loan Lookup tool at www.fanniemae.com/loanlookup, or call Fannie Mae at 1-800-7FANNIE (8 a.m. to 8 p.m. EST).

Mortgage Foreclosure Counseling Program
The Mortgage Foreclosure Counseling Program provides free counseling assistance to help homeowners who are in or nearing foreclosure with referrals to additional resources and, in some cases, financial assistance. Homeowners work one-on-one with the CDA homeownership specialists to assess the situation and determine possible solutions.

Applicants must be a resident of Dakota County and be committed to solving their financial problems with long-term solutions.

How does the program work?

1. Homeowners contact the CDA at 651-675-4555 to discuss their situation.
   
   
2. CDA homeownership specialists provide information about the foreclosure process, evaluate the situation and suggest an action plan with recommendations.
   
   
3. If appropriate, homeowners submit budget and mortgage documentation to the CDA. Homeowners work with the CDA's homeownership specialists to implement the action plan. This includes an in-depth look at the homeowner's finances to develop a budget for the future.

Mortgage Foreclosure Counseling Program Brochure

To speak with a trained Homeownership Specialist about foreclosure prevention, call 651-675-4555.

Extended Hours for Mortgage Foreclosure Counseling
Trained homeownership counselors are available by appointment only on the third Wednesday of every month until 7 p.m. at the CDA's office in Eagan. To schedule an after-hours appointment call 651-675-4555.

Back to Top

Home Improvement Loans

PROGRAM UPDATE (1/31/12): The Home Improvement Loan Program currently has a waiting list. Wait times could be significant, and will vary depending on the time of year, the city in which you live and the availability of funds.

The CDA's Home Improvement Loan Program assists low- and moderate-income homeowners with making repairs and improvements to their homes. Funds are commonly used for roof replacement, furnace replacement, electrical and plumbing repairs, insulation and special needs improvements (such as ramps, bathroom and kitchen modifications).

Eligible applicants must own their home, have sufficient equity in the property, a satisfactory credit history and a gross annual income within the program income limits.

Loan Features

• Zero percent interest
• No monthly payments
• Repayable when ownership changes or you move from the property. May be required to repay the loan if you refinance your home or take out a home equity loan.
• $25,000 loan limit

Home Improvement Loan Program
Income Limits

If you qualify, the CDA will inspect your home, prepare specifications and assist you in obtaining at least two bids for the work to be done. Loan proceeds are kept on account for you by the CDA and payment is made directly to the contractors on your behalf when the work is completed. Inspection of work in progress and upon completion is required by both you and the CDA before payment is made.

Home Improvement Loan Program Application

Questions about Home Improvement Loans?
Contact Mark Hanson at 651-675-4469.

Other Programs to Improve Your Home
The CDA also offers two other improvement loans that are financed by Minnesota Housing.

The first is the Rehabilitation Loan Program which serves households earning below 30% of area median income and provides deferred loans up to $24,999. Requirements include, but are not limited to:

• Must own, and reside in, their home for at least 6 months prior to application
• Income must be under 30% of area median
• Must be current on mortgage(s) and property taxes
• Limit of $25,000 on assets
• Single family detached homes and mobile homes are eligible
• If a mobile home, the borrower must be the only owner

The second is the Fix-Up Fund Loan which is available to households with incomes up to $96,500.  This is an installment loan program that allows a qualified applicant to borrow up to $35,000 for needed home improvements. Requirements include, but are not limited to:

• Gross annual income cap of $96,500 regardless of household size
• Acceptable equity, credit and debt-to-income ratio

If you have questions on the Minnesota Housing programs, or if you would like an application for one of these programs, call Mark Hanson at 651-675-4469.

Back to Top

Energy Assistance & Weatherization Programs
The Energy Assistance Program is administered by the Scott-Carver-Dakota CAP Agency. This program provides grants to help income qualified homeowners pay their heating bills. For information or to request an application for the Energy Assistance Program, please contact the CAP Agency at 651-322-3500.

The Weatherization Assistance Program (PDF) is administered as a joint effort between the CAP Agency and the CDA . The program provides income qualified homeowners a grant to help make their home more energy efficient. Grant funds are used to insulate attics or walls or to upgrade furnaces. Households who have applied to and are eligible for the Energy Assistance Program are automatically referred to the Weatherization Program.

Weatherization Assistance Program Income Limits

If you qualify for the Weatherization Assistance Program, the CDA's Energy Specialist will conduct an energy audit on your home to determine solutions to improve your home's energy efficiency. The CDA will assist you in selecting a qualified contractor to complete the work. Payment is made directly to the contractor on your behalf when the work is completed and after the CDA has inspected the work.

For information about the Weatherization Assistance Program, call 651-675-4554.

Back to Top

Split Visions Remodeling Planbook
A consortium of 15 metropolitan communities partnered to produce an idea book for remodeling, improving and updating split-style homes. Owners of split homes were invited to offer their comments and ideas about what they liked, disliked and what they would like to change about their homes. Homeowner responses were compiled and the planbook derived from their desires and suggestions.

Split Visions Remodeling Planbook

Green Remodeling Plan Book
The Green Remodeling Plan Book is an online guide to information related to updating your home in environmentally conscious ways. The site has tips on what to do before remodeling, ideas for the exterior and interior of your home and other spaces.

www.livingsmarter.org/grpb/

Apple Valley Mobile Home Replacement Program
This program provides an incentive for owners of manufactured homes located in Apple Valley to replace older, substandard, or dilapidated homes with newer manufactured homes.

The following assistance is available to income eligible applicants:

• Costs, not to exceed $2,000, of removing and demolishing manufactured home units to be replaced.
• 50% of the required downpayment for a replacement manufactured home.
• Assistance with setting up a replacement manufactured home including moving costs, utility connections, permits, anchoring and skirting installation.

The downpayment and setting up assistance will be secured as a lien on the property. The lien will be forgiven if the applicant resides in the home for five years after being assisted.

Mobile Home Replacement Program Income Limits

The replacement manufactured home must meet program standards and the project must be feasible for the applicant.

For a Mobile Home Replacement application, call Mark Hanson at 651-675-4469.