homeowner assistance programs

As a community bank, serving our customers is our number one priority. If you are experiencing financial challenges, we want you to know that we are here for you.

Announcing MSHDA Homeowner Rescue Programs
On February 19, 2010, President Obama announced the availability of funding under the Housing Finance Agency (HFA) Hardest-Hit Fund. Michigan was one of five states eligible to create programs for funding under this program. As recently announced by the Michigan State Housing Develop Authority (MSHDA), The U.S. Department of Treasury will review and approve Michigan’s plan by early June and funds should be available to Michigan homeowners by July. MSHDA encourages homeowners interested in participating in one of these programs to use the time between now and the anticipated enrollment period to gather documentation pertaining to income, assets monthly debt and living expenses.

  • Once these programs have been approved by the U.S. Department of Treasury, homeowners can contact their Independent Bank loan counselor at 800.292.5020 to find out if they may be eligible.
  • If homeowners need additional information they can call MSHDA toll free at 866.946.7432 or contact a homeownership counselor in their area. Counselors can be located on MSHDA’s Web site.

MSHDA plans to administer three programs

  • Unemployment Mortgage Subsidy Program
  • Loan Rescue Program
  • Principal Curtailment Program

Flexible solutions designed to meet your needs
Independent Bank has seasoned mortgage experts available to assist borrowers experiencing financial hardship. Our solutions are designed to be flexible so that we can find a program that fits your needs. We use a variety of workout solutions including:

  • Refinances
  • Loan modification
  • Short-term repayment plans
  • Forbearance plans
  • Short sales
  • Deed in lieu of foreclosure

Call us, we can help
If you are experiencing difficulty, the worst thing you can do is not contact your banker. At Independent Bank, we are committed to helping customers find the best solution.

  • Loan counselors can be reached at 1.800.292.5020, Monday through Friday from 8 a.m. to 8 p.m. and Saturday from 9 a.m. to 1 p.m.
  • To contact us by email, please fill out the Contact Us form. So that we may better serve you, please select “Homeowner Assistance” from the Subject drop-down menu.

How to protect yourself from foreclosure scams
Federal Reserve Board has compiled helpful tips to help protect consumers from foreclosure scams. The tips can be found in the press release from the FRB.

Making Home Affordable plan
Learn about the President’s new Making Home Affordable plan to help millions of homeowners refinance or modify their mortgages.