- Wells Fargo Refinancing For Existing Customers
- 2015 Government Mortgage Help targets FHA Programs
- How to Find Cheaper Closing Costs on your Mortgage
- Obama Extends the HARP Refinance Program for 2013
- IRS Supplies Guidance on Home loan Modifications
- Indiana State Mortgage Help for Those in Danger of Foreclosure
- Mortgage Assistance Available in Oregon
- Wisconsin Mortgage Assistance Programs
- How to Write the Mortgage Hardship Letter
- CHFA EMAP Program for Homeowners
One of the top lenders in the country, US Bank is now offering mortgage help for homeowners who are struggling to make ends meet, missing mortgage payments, or who owe more on their property than it is worth. Some, such as HARP and HAMP are government sponsored while other options are unique to US Bank.
The first option, a US Bank Repayment plan, allows a homeowner who has missed payments in the past to pay these past due amounts in monthly installments. The US Bank Repayment plan is a viable option if the homeowner has extra funds at the end of each month and can apply these funds towards the mortgage plus the repayment amount. US Bank offers an online link to determine what repayment plans are available, and which is best for the homeowner.
Another US Bank mortgage relief program is the Hardship Loan Modification. US Bank will combine all overdue interest and principals due because of missed payments and add them to the term of the loan, thus extending the loan. A 30 year loan, for example, might be extended to a 30 year four month term if the mortgage payments are four months behind. This is more appropriate for a homeowner who doesn’t have extra money at the end of the month but can cover mortgage payments and applicable fees.