New Castle, Ind.-based Ameriana Bank has introduced a new initiative called HomeRetain, which is designed to assist families with modifying or refinancing their existing mortgages to more favorable terms and potentially avoid foreclosure.
HomeRetain is a part of the Community Investment Program of the Federal Home Loan Bank of Indianapolis, a source of wholesale funds for member institutions involved in housing or community economic development activities that benefit low- and moderate-income families or neighborhoods.
Homeowners are encouraged to consider HomeRetain if they are presently past due on their mortgage payments, struggling to make mortgage payments in the past 12 months, have an adjustable-rate mortgage resetting to a higher interest rate or have property tax increases, the company says.
