BlueHub SUN, Jessup, Maryland
Three short years ago, Lisa S, 55, ran into a perfect storm of adversity that upended her life in many ways. “In a very brief period of time I found myself without a job, divorced, with a child at home and full responsibility for my elderly, ailing father. And then, of course, we had this terrible economic crisis.”
Despite working three jobs, she found herself unable to pay her mortgage. Even though she had a law degree, Lisa was overwhelmed by the complexities of modifying her loan and negotiating with her lender. Fortunately, she discovered the BlueHub SUN initiative and became one of the first SUN borrowers in Maryland.
“SUN was a brightness in my life, giving me the opportunity to keep my home.”
Free of the anxiety of impending homelessness, Lisa began her journey toward financial recovery. In 2015, she got a good job, one that uses her skills and pays well. Meanwhile, “I made sure I was a responsible homeowner, that my mortgage was paid and that everything was in place to move forward,” she says.
In 2017, she graduated from SUN and refinanced her mortgage at a market rate from a national bank lender.
Moving from SUN to a conventional mortgage created some anxiety at first, Lisa notes.
“I certainly approached it with some apprehension—my last experience with the banks was so emotionally fraught that cutting the string with SUN was a little frightening. But I knew it had to be done,” Lisa continues. “SUN gave me an opportunity that not everyone gets. I believe in the program and I needed to pay it forward for someone else.”
“With SUN I felt at home. I felt safe, protected. It was a partnership, not just a financial transaction. So, I had to work through a lot of emotions as I made a change.”
“Fortunately, I ended up with a mortgage with the right terms and the right rate. I am basically paying the same amount that I was paying SUN, but on a 15-year loan.”
“Now, in 15 years, I’ll be done,” she says. That’s real cause for celebration.