MORTGAGE DEFAULT PREVENTION AND LOSS MITIGATION COUNSELING: CLARIFI WORKS WITH STRUGGLING HOMEOWNERS IN ALL STAGES, FROM THOSE WHO ARE CURRENT BUT FACING POTENTIAL FUTURE DELINQUENCY TO THOSE WHOSE HOMES ARE SCHEDULED FOR SHERIFF'S SALE. OUR COUNSELORS WORK WITH CLIENTS TO FIRST DETERMINE THE REASON(S) THAT THE CLIENT IS DELINQUENT AND DISCUSS OPTIONS TO BRING THE MORTGAGE CURRENT. THEY THEN COMPLETE A CURRENT BUDGET ANALYSIS AND WORK TO ESTABLISH A REALISTIC BUDGET. COUNSELORS ASSIST WITH INTERVENTIONS INCLUDING HARDSHIP LETTERS; APPLICATIONS FOR MODIFICATION; AND FORBEARANCE. IF APPROPRIATE, THE COUNSELOR MAY REFER CLIENTS TO OTHER SERVICES TO HELP WITH OTHER AREAS SUCH AS UTILITIES, FOOD AND CLOTHING, IN ORDER TO FREE UP ADDITIONAL FUNDS TO PAY THE MORTGAGE, AND/OR REFER THEM TO SOCIAL AGENCIES THAT MAY HAVE GRANTS FOR HOMEOWNERS IN DEFAULT. CLARIFI ALSO COLLABORATES WITH GOVERNMENT AGENCIES AND COURT SYSTEMS IN PHILADELPHIA, PA, NEW JERSEY, NEW CASTLE COUNTY, DE, MONTGOMERY COUNTY, PA, AND DELAWARE COUNTY, PA TO ASSIST HOMEOWNERS WHOSE PROPERTIES ARE SCHEDULED FOR SHERIFF'S SALE. CLARIFI HAS COUNSELORS IN COURT WORKING WITH HOMEOWNERS AND COUNSEL TO EXPLORE ALL OPTIONS INCLUDING LOAN MODIFICATION, SHORT SALE, REFINANCING, AND APPLICATION FOR A HOMEOWNERSHIP PRESERVATION LOAN IF APPLICABLE. TOGETHER WITH LOCAL PRO BONO ATTORNEYS, CLARIFI WORKS TO CONTINUE THE NEGOTIATIONS WITH THE MORTGAGE COMPANY, AND SUBMITS CONCILIATION PROPOSALS IN COURT, WHICH OUTLINE THE CLIENT'S BUDGET AND EFFORTS TO MAKE PAYMENT ARRANGEMENTS WITH THE END GOAL OF AVOIDING FORECLOSURE. CLARIFI HAS ALSO ESTABLISHED RELATIONSHIPS, DIRECT LINES OF COMMUNICATION, AND ONGOING BORROWER OUTREACH CAMPAIGNS WITH MULTIPLE MORTGAGE SERVICERS AND INVESTORS TO IMPROVE THE LINE OF COMMUNICATION WITH MORTGAGE BORROWERS IN DISTRESS. IN 2018, CLARIFI PROVIDED 2,097 COUNSELING SESSIONS TO 1,559 HOMEOWNERS IN VARIOUS STAGES OF MORTGAGE DEFAULT, WITH 825 REPORTING THAT THEY AVOIDED FORECLOSURE OR WERE IN THEIR HOMES WORKING TOWARD SOLUTION AS OF 12/31/18.Clarifi (formerly Cccs Of Delaware Valley) is a small finance company based in Philadelphia, PA with only 125 employees and an annual revenue of $4.8M.
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