Responding to the escalating mortgage crisis, the Connecticut General Assembly developed the Mortgage Crisis Job Training Program in 2008 and designated that the American Job Centers be a resource for borrowers in danger of foreclosure. The WorkPlace was named the coordinator and fiduciary for this statewide effort to help at-risk mortgage borrowers.
After evaluating the challenges confronted by individuals facing foreclosure, the link between employment and housing stability became clear. The Mortgage Crisis Job Training Program demonstrates that enhancing skills and education can enhance earning potential and ability to sustain a home mortgage with affordable monthly payments. The program is an opportunity for the workforce system to provide “a hand up, not a hand out.”
The Mortgage Crisis Job Training Program helps homeowners who are behind on their mortgage payments become current by increasing their earning potential. The program is designed to help mortgage borrowers increase their job skills and become more financially stable.
The program offers:
- Customized employment services
- Job training scholarships
- Job placement assistance
- Financial literacy
- Credit counseling,
- Referrals to other services
To be eligible for the program, applicants must be 60 days or more past due on a mortgage for their primary residence in Connecticut and have an annual household income under $120,000 or demonstrate an imminent need for the program’s services. Additionally, referrals are accepted from the Connecticut Housing Finance Authority.
The program is offered at no cost through The WorkPlace in partnership with the Connecticut Housing Finance Authority, Capital Workforce Partners, and Connecticut’s workforce system.