Our Program

What is the HEART Program?

HEART stands for “Homeowner Economic Assistance and Revitalization Trust”. The goal of the HEART Program is to keep American homeowners who have experienced real financial hardship in their homes. Our program is unique in that it recognizes many lenders are simply unwilling to negotiate with homeowners on traditional loan modification applications and seeks a beneficial alternative.

How the Program Works

The HEART Program buys homes directly from lenders in a short sale transaction at a mutually agreeable discount typically equal to or slightly less than current market value. An appraisal is ordered from a licensed, third party appraiser to determine value. After the property is purchased in a short sale transaction it is then leased back to the homeowner who has three years to repurchase the home at today’s market value.

Homeowners will benefit from a monthly lease rate that is less than their current mortgage tax and insurance payments.

This is a win-win situation for lenders and borrowers. Borrowers will benefit from affordable payments and understand their options. Lenders earn nothing less than they would if the property would go in to foreclosure.

For more information about the program, contact a HEART Program Administrator today.

Heartland Sustainable Housing is a non-profit organization that provides foreclosure prevention services in partnership with the Urban League of San Diego, a HUD certified agency.