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198A.400 Kentucky Homeownership Protection Center -- Purposes -Cooperative agreements -- Funding -- Referrals to specific lenders and
brokers prohibited.
(1)
(2)
(3)
(4)
(5)
There may be established, as part of the borrower education initiatives
established by or through the Kentucky Housing Corporation, a Kentucky
Homeownership Protection Center.
The purpose of the Kentucky Homeownership Protection Center shall be to:
(a) Provide a centralized location for information on public services made
available by federal, state, or local government or community entities, to
assist a homeowner who is in default, or in danger of default, on his or her
home loan; and
(b) Attempt to assist, any homeowner who contacts the center without cost to
the homeowner, with the goal of:
1.
Providing a homeowner with information, including toll-free
telephone numbers for public services, made available by federal,
state, or local government or community entities, including programs
such as NeighborWorks and Don't Borrow Trouble, mortgage
assistance programs, home repair assistance programs, and utility
assistance programs;
2.
Determining if the homeowner has contacted his or her lender
regarding any default or danger of default; and
3.
Providing a homeowner with counseling agencies approved by the
United States Department of Housing and Urban Development that
may be able to assist the homeowner.
The Kentucky Homeownership Protection Center may enter into an agreement
with any public or nonprofit entity to carry out any part of the mortgage
foreclosure counseling and education program.
The Kentucky Homeownership Protection Center may solicit contributions and
grants from the private sector, nonprofit entities, and the federal government to
assist in carrying out the purposes of this chapter.
The Kentucky Homeownership Protection Center shall not, directly or through
an entity contracted with in accordance with subsection (3) of this section,
make referrals or recommendations to or regarding specific for-profit lenders or
mortgage brokers.
Effective:April 24, 2008
History: Created 2008 Ky. Acts ch. 175, sec. 1, effective April 24, 2008.
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