BlueHub SUN: Mortgage Lending for Families Facing Foreclosure

BlueHub SUN is not your regular mortgage program

We help families who are facing foreclosure stay in their homes—as homeowners. Since 2009, our nonprofit has made more than 950 loans to homeowners who were in default or foreclosure. If you work with clients who are behind on their mortgage, BlueHub SUN could be a resource. 

We refinance or buy homes in foreclosure and sell them back to their original homeowners with new mortgages they can afford. SUN offers clients a second chance to regain their financial footing and save their homes for good. But that second chance isn’t free. SUN homeowners make a commitment to pay their mortgage on time and in full so we can continue operate the program. Most SUN homeowners have a shared appreciation mortgage—a second mortgage paid only if the home increases in value. Watch these videos to learn more.

We work with housing counselors, bankruptcy attorneys and foreclosure prevention specialists in the 11 states we're licensed in to connect their clients with our mortgage lending.  

Contact our team to:

• Review specific scenarios for your clients

• Discuss our underwriting guidelines and determine how we prequalify clients

• Learn more about our loan’s structure and how the shared appreciation mortgage works

• Learn how to partner with us if you are a real estate agent

• Get interest rates and details on loan products

• Present to your staff on our products

Who is eligible for BlueHub SUN?

Applicants must:

1. Be late on their mortgage payments, going through foreclosure or facing eviction due to foreclosure.
2. Have a stable income, like a job, Social Security, a pension or disability payments.
3. Live in:
   
   • Connecticut
   • Delaware
   • Illinois
   • Maryland
   • Massachusetts
   • Michigan
   • New Jersey
   • Ohio
   • Pennsylvania
   • Rhode Island
   • Wisconsin

Contact us to learn more

What Makes SUN Different

We specialize in working with families who are in default or foreclosure to avoid eviction.

That means our mortgages are different from what one would get at a bank. Here are some important things to understand about what we offer:

• We don’t require a minimum credit score.
• We don’t require a down payment.
• Our process takes longer than getting a typical mortgage because our team negotiates with the homeowner's lenders—it could take several months to a year before this process is completed.
• Clients may have a shared appreciation mortgage—a second mortgage they pay only if their home increases in value.
• The interest rate may be higher than the rates you see advertised by regular mortgage lenders because regular mortgage lenders usually require better credit than SUN clients have.
• Mortgages come with a Capital Reserve Account—a way to help homeowners save their money for home repairs or emergencies. Watch the video "Spotlight on SUN: Preserving your investment" for more information about the Capital Reserve Account.
• Clients may want to refinance out of their SUN mortgage as soon as they can because once their credit score improves they may become eligible for lower interest rates in the conventional mortgage market. A SUN mortgage is just one step on their path to financial health. Watch the video "Spotlight on SUN: The way forward" to learn more about refinancing.

Learn more in our Homeowner Info Center

We partner with people to save their homes for good

Meet Our Affiliates

BlueHub SUN is what we call the various entities that make a client's second chance possible. Throughout the application process, you will hear these different names:

• Aura Mortgage Advisors, a licensed mortgage lender, handles underwriting and issues mortgages to BlueHub SUN clients.
• NSP Residential buys and resells homes and negotiates with a homeowner’s existing mortgage lender on the purchase price. NSP also issues the shared appreciation mortgage.
• Dovenmuehle (DMI) is our mortgage servicer and handles billing, payments, and other services. Dovenmuehle runs the online portal where clients can manage their mortgage account. They also mail out the monthly mortgage statements. BlueHub SUN staff works closely with Dovenmuehle to answer any questions. Even as clients hear from Dovenmuehle, they are still working with the BlueHub SUN program.

BlueHub Capital is SUN’s parent nonprofit organization. It is a national community finance organization based in Boston with a decades-long history of building healthy communities where low-income people live and work.