MSU Extension releases post-foreclosure toolkit to help those facing financial crisis

Erica Tobe<tobee@msu.edu>, Michigan State -

The toolkit is designed to help people rebuild their financial lives following home foreclosure.

Michigan State University Extension has released the Starting Over After Foreclosure Toolkit, a free resource for homeowners who are currently experiencing or have previously experienced foreclosure. Accessible and easy to read, this downloadable toolkit helps Michigan residents understand their situation both emotionally and financially and is offered online for free at MIMoneyHealth.org.

The toolkit includes eight stand-alone sections:

  • Getting a Fresh Start After Foreclosure
  • Reimagining Your Future: What Direction Do You Want to Go?
  • Assessing Your Financial Situation
  • Rebuilding Your Financial Situation and Credit History
  • Finding a Place to Call Home
  • Knowing Your Rights and Responsibilities
  • Getting Prepared, Getting Organized
  • Returning to Homeownership

The Starting Over After Foreclosure Toolkit is designed to help people who have been through home foreclosure or are now in the foreclosure process to rebuild their financial lives. In-depth reviews from professionals in industries such as real estate, legal aid, and lending also find this resource helpful for their constituents facing general financial crises (not just experiencing foreclosure). Included in the toolkit are widely applicable worksheets and tips regarding budgeting, communicating with creditors, organizational tools and more. For more information on other financial and homeownership education programs, visit MIMoneyHealth.org.

The “Starting Over After Foreclosure” toolkit was developed in part with support from National Mortgage Settlement funds distributed by the U.S. Department of Treasury.

This article was published by Michigan State University Extension. For more information, visit https://extension.msu.edu. To have a digest of information delivered straight to your email inbox, visit https://extension.msu.edu/newsletters. To contact an expert in your area, visit https://extension.msu.edu/experts, or call 888-MSUE4MI (888-678-3464).

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