Through this program DCHP provides low-and moderate-income households the opportunity to purchase their first home in Douglas County. This program increases a buyer’s purchase power by giving these households the ability to borrow at a low interest rate and ultimately bridging the gap between lower wages and higher cost housing.
This program is a mediation service only and is available at no cost to Douglas County residents. The Program was established through cooperation with the Douglas County Public Trustee’s Office to decrease the number of foreclosures in Douglas County by providing borrowers with tools and resources to use during the foreclosure process. DCHP will educate borrowers on their consumer rights as well as act as a mediator between the lender and the borrower.
DCHP offers HUD certified counseling required for persons interested in obtaining a reverse mortgage. A Reverse mortgage, also called Home Equity Conversion Mortgage (HECM), is a loan for people above the age of 62 that uses some percentage of a home’s equity as collateral in exchange for cash to the borrower most often in monthly payments. Typically, the loan is not repaid until the last surviving homeowner permanently moves from the home or passes away.