Avenue CDC provides one-on-one counseling to those who are having trouble making their mortgage payments and may be in danger of foreclosure. Clients are assisted in understanding their options and negotiating with their lenders. To make an appointment with our foreclosure prevention counselor, call (713) 864-9099.
Success Story: Avenue CDC Helps Guerrero Family Avoid Foreclosure
Twenty years ago, Norma Guerrero and her husband decided to purchase a home. They found a nice three bedroom, two bath house located in Houston’s growing south side. After buying their home for a modest $27,000, they began making monthly payments on a 30 year mortgage with an adjustable ten percent interest rate.
Sadly, the Guerrero family suffered a number of tragedies in a few short years. Not only did both of Norma Guerrero’s parents pass away, but so did both of her husband’s parents. After having to finance the final arrangements of four of their loved ones in two short years, the Guerrero’s were also faced with the ongoing medical costs that followed their daughter, who had heart surgery at the age of six.
It was during this trying time that the Guerrero’s were faced with an impending foreclosure on their home. Fortunately, Mrs. Guerrero’s daughter-in-law referred her to Avenue CDC, where she would end up getting the help she needed to save her family’s home. Patricia Wydler, Avenue CDC’s foreclosure prevention counselor, reviewed the Guerrero’s case and found that they had a great deal of equity in their home and thereby more leverage in negotiating with the bank. Additionally, Patricia found that the couple had not missed any mortgage payments on the home – they had only sent payments late. With the help of Avenue CDC, Norma Guerrero and her family were able to establish a repayment plan with the bank and keep their home.