Leelanau County families at risk of losing their homes through foreclosure may now receive help through the county's affordable housing program, Leelanau REACH (Resources for Economical and Accessible Community Housing).

A $22,227 casino revenue sharing payment received last year from the Grand Traverse Band of Ottawa and Chippewa Indians is underwriting the new foreclosure prevention program. Financial assistance to eligible families in Leelanau County is available as a loan or grant, depending on individual circumstances.

“There are several programs these days to help families buy a home, but there is not much help when a family is about to lose their home,” said Bob Schleuter, chairperson of Leelanau REACH.

Local banker John Visser is treasurer of Leelanau REACH.

“Foreclosures are at an all-time high for a number of reasons, and it’s not all Michigan’s sagging economy,” Visser said.

Some families end up in a situation that is more than they can afford and even a small financial setback can send them into foreclosure, according to a news release from Leelanau REACH. Also, uninformed home buyers or those trying to refinance and improve their situation may find themselves entering into a mortgage with a high interest rate and large fees and closing costs that benefit the lender – but make their predicament even worse.

The goal of the Leelanau REACH foreclosure prevention program is to help families who are facing foreclosure stay in their homes and receive financial counseling. The organization has developed an agreement with the Northwest Michigan Human Services Agency to coordinate the Leelanau REACH foreclosure prevention program with the agency’s financial counseling program and the statewide Homelinks program funded by the Michigan State Housing Development Authority (MSHDA).

Any Leelanau County homeowner at risk of foreclosure who is seeking more information or wants to apply for the program may contact Leelanau REACH by phoning 256-9812 and asking for county housing coordinator Ron Crummel. Related information can also be found on the Leelanau REACH web site at www.leelanaureach.com.