What Is the Residential Mortgage Foreclosure Prevention Program?
The Residential Mortgage Foreclosure Prevention Program is the City of Philadelphia’s response to the national foreclosure crisis. Its goal is to keep as many Philadelphians in their homes as possible.
The Foreclosure Prevention Program was created by Common Pleas Court Judge Annette M. Rizzo in 2008. With City Council’s support, the Sheriff’s Office agreed to postpone sheriff sales for owner-occupied residences until homeowners and mortgage lenders had the chance to meet face-to-face. These meetings, known as conciliation conferences, are held every Thursday in Courtroom 676 in City Hall.
Thanks to the Foreclosure Prevention Program, many Philadelphia homeowners will not go through foreclosure but will instead negotiate an affordable mortgage payment and stay in their homes!
When you call the SaveYourHomePhilly hotline, you are taking the first step toward getting involved with the Residential Mortgage Foreclosure Prevention Program.