None of us ever expect to be facing foreclosure. When we initially buy our homes, we fully expect to pay the monthly payment on time, without issue. Unfortunately, times do change and the housing crisis and tough economy has changed everything. Millions of American homeowners can no longer afford their mortgage payments! Mortgage modification help may be the only way to save their homes!
The government recognized the epidemic of foreclosures occurring nationwide. President Obama created a Home Stimulus Plan to help for mortgage. This means if you applied for a mortgage modification through your lender and were denied, you now have the chance to apply again! If you haven't applied but are thinking about it, now is the time!
The Treasury Department has allocated $75 billion dollars as monetary incentives for lenders. These incentives will be paid to lenders who seek out and accomplish modified loans for homeowners. Lenders have never had monetary incentives to help homeowners! This could really turn the housing crisis around!
In order to qualify you will need to meet certain criteria.
The 32 states that were not included in the Hardest Hit Fund were left to take care of themselves. Or, so they thought. The Housing and Urban Development (HUD) program has stated they will help any state not covered by Obama's program that has a high foreclosure rate. HUD's plan is to make accessible no interest loans for emergency mortgage relief.
If you are unemployed and need help staying in your home, there are options available to you. The U.S. Treasury website lists the guidelines for each Hardest Hit Fund state. Additionally, if you live in one of the undesignated states, you can look to HUD's website for more information on their program.
The government recognized the epidemic of foreclosures occurring nationwide. President Obama created a Home Stimulus Plan to help for mortgage. This means if you applied for a mortgage modification through your lender and were denied, you now have the chance to apply again! If you haven't applied but are thinking about it, now is the time!
The Treasury Department has allocated $75 billion dollars as monetary incentives for lenders. These incentives will be paid to lenders who seek out and accomplish modified loans for homeowners. Lenders have never had monetary incentives to help homeowners! This could really turn the housing crisis around!
In order to qualify you will need to meet certain criteria.
The 32 states that were not included in the Hardest Hit Fund were left to take care of themselves. Or, so they thought. The Housing and Urban Development (HUD) program has stated they will help any state not covered by Obama's program that has a high foreclosure rate. HUD's plan is to make accessible no interest loans for emergency mortgage relief.
If you are unemployed and need help staying in your home, there are options available to you. The U.S. Treasury website lists the guidelines for each Hardest Hit Fund state. Additionally, if you live in one of the undesignated states, you can look to HUD's website for more information on their program.