“Since its creation in August 2008, over 2,100 Kentuckians have reached out to the Kentucky Homeownership Protection Center for foreclosure prevention help,” Beshear said.  “This grant will help an additional 2,200 Kentuckians who are in danger of foreclosure receive counseling and assistance as they work to keep their homes.”

Newberry said Lexington has several programs to increase homeownership.  “We have been working very hard for several years to help people realize the American dream of homeownership and we want to keep new homeowners in their homes,” Newberry said.

“Kentucky is fortunate to have leaders like Governor Beshear and Representative Tommy Thompson, who sponsored the bill creating the Homeownership Protection Center,” said McQuady.  “They had the foresight to develop the Protection Center before the foreclosure crisis destroyed the dream of homeownership in Kentucky as it has in so many other states.  Through this grant, we will be able to expand our network of counselors and help more people without the use of state funding.”

Each homeowner who contacts the Protection Center through the Web site, www.ProtectMyKYHome.org, or through the toll-free number, (866) 830-7868, will be referred to a counseling agency.  The agency will review the client’s current situation and work to assist the client the best way possible.  To be eligible for assistance, clients must be at least 18 years of age and the owner and occupant of the property.

Counseling assistance may include, but is not limited to:

Information – Clients may receive general information about foreclosure prevention, loss mitigation, home repair, and/or utility assistance programs.

Assessment – Counselors will assess the homeowner’s financial circumstances and determine what options might be available.

Referral – Homeowners may be referred to other services that can help support the homeowner, including social service agencies or other organizations.

Case Management – Counselors may provide assistance with the homeowner’s situation by identifying possible alternatives and solutions.

Debt Management – Counselors will assist the homeowner by outlining their financial situation and helping them construct a realistic budget.

The Protection Center is a joint effort of the Department of Financial Institutions, KHC, and many other organizations across the state.  KHC administers the Protection Center, under the direction of Governor Steve Beshear, to provide support and guidance to homeowners who are in default or in danger of default on their mortgage loan.  KHC will be collecting and reporting data on the results to the Governor’s Office.

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The Kentucky Homeownership Protection Center was established by the 2008 Kentucky General Assembly to address the foreclosure crisis here in Kentucky.  The Kentucky Homeownership Protection Center is a joint effort of the Governor’s Office, the Department of Financial Institutions, Kentucky Housing Corporation and many other agencies and groups across the state.  The Kentucky Homeownership Protection Center is administered by Kentucky Housing Corporation.