HUD Archives: News Releases

Release Number 007
Joel Manske, ND Field Office Director
(701) 293-2828
For Release
August 27, 2008

HUD Secretary to troubled homeowners: Don't wait to seek relief; Visit

WASHINGTON - Distressed homeowners in North Dakota do not have to wait for the new housing law to take effect on October 1st in order to be eligible for mortgage relief. HUD's Federal Housing Administration (FHA) continues to provide troubled homeowners with access to safe, affordable mortgage products.

"HUD understands that for many families, time is of the essence. These families should not wait to obtain help when
it may already be available," said HUD Secretary Steve Preston. "Delay could only result in the loss of their home.
We have already helped hundreds of thousands of families nationwide, and we believe there are more North Dakota families that can currently benefit from our refinancing product."

Immediate assistance is available by calling (800) CALL-FHA or visiting There are 15 HUD-approved housing counseling agencies standing by to help homeowners in the state of North Dakota. In addition, homeowners may also call the HOPE Now alliance at: (888) HOPE-NOW.

In July, the Bush Administration expanded its flagship mortgage insurance program to assist more homeowners who
are struggling to keep up with their high-cost subprime adjustable rate mortgages. HUD's FHA expanded its
FHASecure refinancing product to insure more mortgages for borrowers who were late on a few payments and/or received a voluntary mortgage principal write-down from their lender.

With this expansion, FHA has helped more than 320,000 families since September 2007 refinance into affordable mortgages and is on pace to help 500,000 American families by the end of this year.

In August 2007, FHA initially modified its refinancing program to help creditworthy homeowners who missed their mortgage payments as a result of the payment shock associated with interest rate resets. FHASecure has further expanded its eligibility criteria to help homeowners who have gone into default as a result of temporary economic setbacks. FHA's eligibility will now help the following categories of troubled homeowners:

  1. Borrowers who are delinquent on their adjustable rate mortgages, but who were late on no more than
    two monthly mortgage payments over the previous twelve months are eligible for the standard 97 percent
    loan-to-value (LTV) FHASecure refinance loan.

  2. Borrowers delinquent on their adjustable rate mortgages who were late on three consecutive monthly
    mortgage payments or at three different times over the past twelve months will be eligible for a 90
    percent LTV ratio FHASecure refinance loan.

FHASecure can help additional borrowers in North Dakota and across the nation access a more viable refinancing option and will offer lenders an alternative to foreclosing on these individuals. Lenders can already voluntarily write down the outstanding subprime mortgage principal balances to a 97 percent or 90 percent LTV ratio depending on
the borrowers' circumstances. FHA will also encourage lenders to make other arrangements, such as subordinate financing, to "fill the gap" between the existing loan balances and the FHA-insurable loan amount. The refinanced
loan amount backed by the FHA would be based upon a new appraisal, performed by an FHA-approved appraiser.

Below is a list of local HUD-approved housing counseling agencies in your area:

Bismarck CCCS of the Village Family Service Center
411 North 4th Street, Suite 10
Bismarck, ND 58501
Phone: (800) 450-4019
Website (

Community Action Program, Reg VII, Inc.
2105 Lee Avenue
Bismarck, North Dakota 58504-6798
Phone: (701) 258-2240
Website (
Communityworks ND
400 E. Broadway Avenue, Suite 418
Bismarck, North Dakota 58501
Phone: (701) 255-4591
Website (

North Dakota Housing Finance Agency
1500 East Capitol Avenue, PO Bx 1535
Bismarck, North Dakota 58502-1535
Phone: (701) 328-8060
Website (


Community Action Partnership
202 E. Villard
Dickinson, North Dakota 58601-5247
Phone: (701) 227-0131
Website (


Fargo/West Fargo CCCS of the Village Family Service Center
1201 25th Street South
Fargo, North Dakota 58103
Phone: (701) 235-3328
Website (

Southeastern North Dakota Community Action Agency
3233 S University Dr
Fargo, North Dakota 58104-6221
Website (

Lutheran Social Services of North Dakota
1325 11th Street South
Fargo, North Dakota 58103
Phone: (701) 271-1636
Website (

Family Life Services, Inc.
3245 Meadow Ridge Parkway
West Fargo, North Dakota 58078
Phone: (800) 747-9307 ext.141
Website (

Grand Forks CCCS of the Village Family Service Center
1726 S Washington, Ste 33A
Grand Forks, North Dakota 58201
Phone: (701) 746-4584
Website (

Red River Valley Community Action
1013 N. 5th Street
Grand Forks, North Dakota 58203
Phone: (701) 746-5431
Website (
Grand Forks Housing Authority
1405 1st Avenue North
Grand Forks, North Dakota 58203
Phone: (701) 787-9437
Jamestown CCCS of the Village Family Service Center
300 2nd Ave NE, Ste 217
Jamestown, North Dakota 58402
Phone: (800) 450-4019
Website (


Minot CCCS of the Village Family Service Center
20 1st St SW, Ste 250
Minot, North Dakota 58701
Phone: (701) 852-3328
Website (
Community Action Partnership - Minot Region
2020 8th Ave. SE
Minot, North Dakota 58701
Phone: (800) 726-8645
Website (


HUD is the nation's housing agency committed to increasing homeownership, particularly among minorities;
creating affordable housing opportunities for low-income Americans; and supporting the homeless, elderly, people with disabilities and people living with AIDS. The Department also promotes economic and community development and enforces the nation's fair housing laws. More information about HUD and its programs is available on the
Internet and


Content Archived: July 11, 2011