Springboard Announces New Online Resource Center To Meet Demand for Back to Work Mortgage Program
Springboard Nonprofit Consumer Credit Management, Inc. (“Springboard”) is pleased to announce a new online resource center to meet the demand for the United States Federal Housing Administration’s (“FHA”) Back to Work – Extenuating Circumstances (“Back to Work”) program. The new program shortens the waiting period for eligible borrowers to buy a home to as little as one year if they can show full recovery from their financial hardship and receive counseling from a Department of Housing and Urban Development (“HUD”) approved housing counseling agency. Springboard is approved by HUD to provide this required pre-purchase housing counseling.
In response to the demand for the Back to Work program, Springboard has launched a new user-friendly resource center that features a quick reference guide for real estate agents and prospective borrowers who have questions about eligibility and whether all home buyer qualifications have been met. The guide is free and may be downloaded from Springboard’s new online platform – http://backtowork.org/realtor/.
Another feature of the resource center is Springboard’s Priority Pre-purchase CounselingSM portal that allows consumers to request a priority counseling appointment with a certified housing counselor, a requirement for the Back to Work program.
“We anticipate growing consumer demand for the Back to Work program,” said Heather Shanahan with Springboard’s program development office. “The reference guide is a very helpful tool for real estate agents working with clients who may qualify for this FHA program. We encourage anyone with questions about eligibility to visit the resource center and download a complimentary copy of the reference guide or request a Priority Pre-purchase Counseling(SM) session,” said Shanahan.
From Springboard’s online resource center, prospective home buyers can also browse for information about the program. The new FHA program provides flexibility to lenders and greater access to mortgage credit for middle class families ready to enter the housing market. A copy of the FHA mortgagee letter, which further outlines the eligibility requirements for the Back to Work initiative may be downloaded at Hud.gov.
Credit.org® is a 501(c)(3) nonprofit personal financial education and counseling organization founded in 1974 with the mission of improving the financial well-being of individuals and families. Credit.org is a HUD-approved housing counseling agency and a member of the National Foundation for Credit Counseling and Association of Independent Consumer Credit Counseling Agencies. Credit.org offers personal financial education and assistance in credit counseling, housing counseling, debt and money management, pre-bankruptcy counseling and debtor education through educational programs and confidential coaching. Credit.org is accredited by the Council on Accreditation, signifying the highest standards for agency governance, fiscal integrity, counselor certification and service delivery policies. Counseling is available by telephone nationwide or in-person at office locations in California, Arizona, Nevada, New Mexico, Texas, Massachusetts, South Carolina, Florida and Maryland. For more information on credit.org, please call 800-449-9818 or visit their web site at credit.org.