BlueHub SUN actively partners with families facing foreclosure because of a financial hardship. This program, the first and only one of its kind, provides distressed homeowners a 30-year mortgage with a monthly payment they can afford. Through our affiliate, Aura Mortgage Advisors LLC, we offer financing to responsible borrowers with stable incomes who are committed to maintaining a regular payment schedule. This foreclosure prevention initiative helps individual homeowners, as well as entire neighborhoods and municipalities, avoid the destabilizing effects of foreclosures and vacancy.
Since late 2009, BlueHub SUN has helped over 1,000 families avoid foreclosure while reducing their principal balances by about 29%, on average. BlueHub SUN acquired its first lending license in Massachusetts and has gradually expanded the initiative to six other states: Connecticut, Illinois, Maryland, New Jersey, Pennsylvania, and Rhode Island.
How BlueHub SUN works
We acquire foreclosed properties before residents are evicted, and then resell these homes back to the homeowner on the same day with a mortgage they can afford. Our lending terms include a requirement that homeowners take an active role in helping us save their homes, that they have steady, documented income and that they demonstrate a commitment to keep current on their mortgage payments. The goal of the program is to promote responsible homeownership and healthy communities while helping distressed homeowners repair their damaged credit and eventually refinance into a more standard mortgage.
Our formula is straightforward:
- Qualify our potential borrowers through rigorous underwriting: we examine credit, financial information and sources of income.
- Negotiate with the lender’s representative to buy a foreclosed home at the distressed market value—which is often less than the amount owed by the homeowner.
- Resell the home, typically at current fair market value on the very same day, to its existing occupants with a new, fixed-rate 30-year mortgage and a shared appreciation arrangement with BlueHub SUN.
Who has BlueHub SUN helped?
Our borrowers include people from all walks of life, including schoolteachers and firefighters, salesclerks and auto mechanics, veterans and parents of soldiers.
To date, the BlueHub SUN Initiative has provided more than $178 million in mortgage financing to help more than 1,000 families remain in their homes. We’ve reduced borrowers’ original outstanding mortgage principal in the aggregate by roughly $55 million. SUN has renegotiated hundreds of mortgages and nearly all of them are current.
BlueHUB SUN borrowers in Lindenhurst, IL.
Who qualifies for this program?
- Are you late on your mortgage payments, going through foreclosure, or facing eviction due to foreclosure?
- Do you live in Connecticut, Illinois, Maryland, Massachusetts, New Jersey, Pennsylvania, or Rhode Island?
- Do you have stable income?
If you answered yes to all three questions, we encourage you to inquire. We can tell you if the program may work for you right over the phone.
Call us TOLL-FREE AT 855-604-HOME (4663) or complete our inquiry form, and a representative will get back to you. When you contact us, please be sure to provide the best way to reach you — cell phone, email, work, or home phone, and when you are generally available.
Want to inquire?
What you will need:
- Recent mortgage statements, including a 2nd mortgage or home equity line, if you have one
- Recent bank statements
- Last 30 days of pay stubs
- Last 2 years of tax returns
- Loan and credit card information: How much do you owe? How much do you pay each month? Include all debt, including car and student loans.
The more quickly you send us the documents above, the easier and faster the process will be. If you have any questions about the program or documents required, call us TOLL-FREE at 855-604-HOME (4663).
Para mayor información sobre como aplicar al programa llame al numero 855-604-4663 (llamada gratuita), tenemos personal bilingüe especializado que responderá sus preguntas.
To begin the process, fill out our inquiry form here:
Want to Learn About Partners & Additional Resources?
BlueHub SUN works with community organizations and public officials everywhere we operate. These organizations provide help on housing, financial counseling, legal services, and many other issues. For a directory of foreclosure and housing counseling agencies approved by the U.S. Department of Housing and Urban Development, click here.
Mortgage loans are made by Aura Mortgage Advisors LLC, an affiliate of BlueHub Capital. Aura is a licensed mortgage lender (NMLS #23467).
Aura is registered and licensed by the CT Department of Banking (ML-23467), IL Department of Financial & Professional Regulation (MB.6761025), MD Commissioner of Financial Regulation (36-23467), MA Division of Banks (MC23467), NJ Department of Banking and Insurance, PA Department of Banking and Securities (61391) and RI Department of Business Regulation.
BlueHub Capital is an Equal Opportunity Lender, Provider & Employer.