Emilia is a CNA who had a first and second mortgage with the same lender.  She had worked with her lender to modify the first mortgage, and was staying current but she was starting to fall behind on her second mortgage at the end of last year. Then in January, she was laid off from her job. 

When she came to the Loan Fund on February 26, her lender was about to begin foreclosure proceedings.  Payments on her second mortgage of ($32,000) were six months behind, and she was a little behind on her first.  She had some ideas on how to correct the problems but could not come to an agreement with her lender.
 
In February, Emilia had started to collect unemployment compensation.  In addition, she took in a boarder to supplement her income.  With an attorney's review of the boarder's lease and the wage verification, the Loan Fund contacted her lender.  With this information and N2N funds as leverage, we negotiated with the lender.  The lender agreed to settle the second mortgage for a one-time payment of $4,000.  N2N rescue funds were used to make this payment.

Now the very cooperative lender will have a good loan to service, Emilia will make her first mortgage current by the end of this month, and both she and her boarder will be able to stay in their affordable housing.