By Steven V. Dubin

Seniors on fixed incomes can get behind on their mortgage. Or they get behind on the property taxes.
Most people ignore the initial letters from the bank. They hunker down and avoid the bad news. Foreclosure is frightening and anxiety-laden.
But there is a way to remedy foreclosure. A new local and free nonprofit service helps you do so.
Michael Russell, founder of Hope 4 Hardship and a Dartmouth, Massachusetts resident, was a victim of foreclosure himself. He seemingly had it all – a successful family real estate business, every afforded opportunity, a happy and healthy family. Unfortunately, his excessive lifestyle led to divorce, foreclosures, short sales, bankruptcies, and shame.
Twelve years later Michael got back on his feet, resurrected his real estate career, bulked up his credit score to 800+ and began advising others on how to avoid foreclosure. No charge. Paying it forward.
Now Russell is also the president/owner of Century 21 Signature Properties, one of the most productive Century 21 offices in Massachusetts. He has now helped more than 100 homeowners with foreclosure solutions.
Russell affirms, “ So look, there are two inalienable truths about mortgages and homes. There is no bank in the country that wants to foreclose on a property. And there is no homeowner in America who wants to be foreclosed on.”
Thus, the bank is delighted when the homeowner reaches out to remedy the situation.
The first challenge is that the initial letters from the bank are onerous. Second, when that notice is recorded with Land Court, it becomes public knowledge. That triggers a whole bunch of people and companies who try to capitalize on the misfortune of others. The homeowner is inundated with phone calls, mail, and people knocking on their door. These predators want to buy the property for cheap, or suggest strongly that they sell their property, or convince them that file for bankruptcy.
Russell asserts, “Just because the foreclosure notice was recorded does not mean that any of those the these things need to happen. After exhausting every effort to retain the property, those three options may become a way to avoid foreclosure, but not that early in the game, and that’s really what I’ve tried to create. We provide an opportunity to help people exhaust every single human possibility for them to stay in their home.”
Hope 4 Hardship helps craft a reasonable applications for assistance. They describe the hardship that is happening. Then banks have two buckets – one to help the homeowner retain their asset and the other to disperse of the asset.
Russell notes that 70% of the time, home retention options are available.
Listen to the recent South Shore Senior News podcast and you’ll be more optimistic about the foreclosure process and resolutions that are available. Visit https://southshoresenior.com/category/podcasts/.
To contact Michael Russell, call 508-501-9214 or visit www.Hope4Hardship.org

If you know of a senior who is doing something interesting with their retirement, I look forward to hearing from you! Please email me at SDubin@PRWorkZone.com 

Steven V. Dubin is the founder of PR Works, a lightly used public relations firm based in Plymouth which helps small to mid-sized nonprofit organizations and for-profit companies navigate the overwhelming options of advertising. Steve lives in Plymouth with his wife, Wendy. He is a contributing author to “Get Slightly Famous” and “Tricks of the Trade,” the complete guide to succeeding in the advice business. He recently authored “PR 101,” an E-book.