Foreclosure Prevention Services through ‘Project Homeless Connect’

Non-profit group Key Alliance has collaborated with the Tennessee Housing Development Agency for the inclusion of the latter’s foreclosure prevention services in an event slated on December 8. The event, called ‘Project Homeless Connect’ is the biggest service event on Nashville, Tennessee. It aims to remove common barriers to the housing industry and at the same time to address the needs in battling homelessness.

Tennessee Housing Development Agency would stage the event together with four other partner agencies. Those are Good Neighbor Foundation, Dominion Financial Management, Residential Resources, and Life of Victory International Christian Ministries. The event would be held to provide information as well as counseling services so that foreclosure could be prevented.

To get necessary help from the event, troubled families who need financial assistance to avoid foreclosure are advised to drop by the Tennessee State Fairgrounds from 8 am onwards. They should bring their latest income statement along with correspondence from their mortgage service provider. Those who may not be able to personally attend Project Homeless Connect could get in touch with an online foreclosure counselor.

According to the Congress’ Joint Economic Committee, an average foreclosure cost of $77,935 would need $3,300 in installment payment per period to avoid a possible foreclosure. According to the Housing First program, it would cost about $17,000 each person annually to provide permanent shelter with wrap-around services.

Key Alliance is a non-profit fundraising unit of the Metropolitan Homelessness Commission. It was established in 2009 to generate funds required for implementation of programs that aims to curtail chronic homelessness in Nashville. It also intends to help lower overall homelessness in the city.

A spokesperson for Key Alliance said the group is thankful that Tennessee Housing Development Agency has decided to join it in Project Homeless Connect. The group assigns the agency to take care of the event’s foreclosure counseling services.

Analysts assert that it would cost less for Nashville to control or slash homelessness. They emphasize that the city would spend more in resolving an already blown problem in the future, if foreclosure would not be addressed this early.

Project Homeless Connect last year provided about 9,500 services to almost 1,500 families and individuals. The event was staged with the assistance of more than 700 volunteers and 60 service providers. Key Alliance is also accepting financial contributions from charitable individuals, organizations, and businesses.

For more news and information about foreclosures, visit ForeclosureConnections.com.