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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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