Desiree Bradley* had raised two children, put herself through school, and developed a successful career as a vocational trainer. With her kids grown and out of the house, she was looking forward to some down time. However, she began to have trouble meeting her mortgage payments. A co-worker who learned of her problem told her about Neighborhood Housing Services of Toledo, a NeighborWorks® organization. At Desiree's request, the organization examined her loan documents and discovered that, unbeknownst to Desiree, she had an adjustable rate mortgage (ARM). This ARM was contributing to her growing difficulty in making payments. With the help of a national foreclosure hotline (888-995-HOPE) that NeighborWorks® supports, Desiree began the process of refinancing her home. After switching from an adjustable to a fixed rate mortgage, she found that her new payment, including taxes and insurance, was actually less than her old mortgage payment, which didn't include escrow. In addition, she was able to use the money from the refinance to put a new roof on her home. As her foreclosure counselor stated, "[Desiree] was just one of many individuals out there who think they have the perfect mortgage product until the monthly payments begin to adjust up; the balance becomes due or they find that their mortgage loan is greater than the value of the property." Desiree's situation was made much easier because she contacted her local NeighborWorks® organization before she became delinquent. She was able to refinance and maintain a good credit score by finding help as soon as she realized there was a problem. By reaching out, Desiree was able to explore her options. Working with NeighborWorks® and 888-995-HOPE, she found the option that was best suited for her financial situation and allowed her to keep her home. < Back