Mississippi Foreclosure Prevention

Attention Homeowners, 

Please be advised that the MS Homesaver program is shutting down!

December 31, 2019—Online Application Portal Closure
The application portal will officially close at midnight. No new applications will be accepted after this date.


Bank of America Settlement for Mississippi

On August 20, 2014, the United States Department of Justice, six states and Bank of America reached an agreement to settle claims that Bank of America, Countrywide, Merrill Lynch and First Franklin violated federal and state laws in connection with the packaging, origination, marketing, sale, structuring, arrangement and issuance of residential mortgage-backed securities and collateralized debt obligations.

Under the Settlement Agreement, Bank of America is required to (i) pay $9.16 billion in direct payments to federal agencies and six states; (ii) provide $7 billion in Consumer Relief; and (iii) provide $490 million for the payment of consumer tax liability as a result of such Consumer Relief.

Consumer Relief may include first lien principal forgiveness, principal forgiveness of forbearance, first lien forbearance (payment forgiveness), second lien extinguishments, junior lien forgiveness and extinguishment, credit for purchase money loans, community reinvestment and neighborhood stabilization.

Programs that help fund legal aid to the poor through Interest On Lawyers’ Trust Accounts (IOLTA) will benefit as a result of the $16.65 billion Bank of America settlement with the United States. Each state IOLTA program will get $200,000, then the rest of the $30 million will be allocated based on the percentage of the state’s population living in poverty.

North Mississippi Rural Legal Services (NMRLS) received a portion of this IOLTA funding and is proud to offer foreclosure prevention, loan modification, loss mitigation, housing counseling, and other options to assist families to remain in their homes.



NMRLS, will assist homeowners by providing counseling and advice and providing information about programs that help MS homeowners. The Home saver program provides mortgage assistance to unemployed or substantially underemployed homeowners in Mississippi who, through no fault of their own, are financially unable to make their mortgage payments.

            North Mississippi Rural Legal Services has a toll free hotline for Mississippi homeowners and it will provide information about the Mississippi Home Saver Program as well as other valuable information regarding homeownership and foreclosure prevention. Through the hotline, homeowners will receive free legal counsel, advice, and other services.

For more information, call NMRLS toll free foreclosure prevention