Success Story

When Mrs. Cooper found East Bay NHS, she was trailing 60 days late in her adjustable-rate mortgage payments. Mrs. Cooper has owned her home since the late '60's. When her home became damaged by a storm, a broker arranged for her to get the cash she needed by refinancing her home. At that time, Mrs. Cooper did not know that her broker got her the loan based on false information and did not explain how and when the payments would adjust.

At first, the payments were within Mrs. Cooper's ability to pay. However, within a few months, the payments increased by $400 and she began falling behind. Her lender began making collection calls and threats to foreclose her home. After 30 years of homeownership, this hard-working senior came dangerously close to losing her home.

Despite her recent late payments, Mrs. Cooper had a strong credit profile and demonstrated that she could make regular payments. Angela, a housing counselor with East Bay NHS, began working with Mrs. Cooper to find a solution. East Bay NHS negotiated with the lender, reversing late fees and establishing timely payments. East Bay NHS then helped Mrs. Cooper avoid foreclosure by securing a reverse mortgage from Wells Fargo Bank. To restore her home, East Bay NHS provided Mrs. Cooper with a construction specialist and a rehabilitation loan. With no payments due on the reverse mortgage, Mrs. Cooper was able to reduce her monthly housing cost by nearly half. She was saved from foreclosure, and has received the rehabilitation she needed to restore the beauty and habitability of her home. Mrs. Cooper has gone from worrying about losing her home, to worrying her contractor over the details of choosing new countertops and cabinets for her kitchen, new paint, floors and appliances.

"I trust NHS completely. Everyone has been so patient and helpful. It was truly a blessing for me to find them. I was just driving down the street (Cutting Blvd.) and I didn't know if they could help me. I'm so glad I stopped in. Now I have a note I can handle and my house is being completely remodeled. Praise God!" ~Mrs. Cooper