- 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
It’s no secret to anyone that the United States has been facing a serious economic crisis for the last several years, which has negatively affected everything from overseas trade to local job loss and nationwide reductions in wages. Many families are literally struggling to meet their basic needs, and Oregon has been hit especially hard by the recession. Oregon homeowners who are facing foreclosure may qualify for assistance through a variety of different state and national programs, including the Oregon Homeownership Stabilization Program (OHSI), Home Affordable Modification Program (HAMP), The Home Affordable Refinance Program (HARP), and The Foreclosure Avoidance Mediation Program, as well as several others.
Wisconsin Mortgage Assistance Program
The CHFA EMAP Program for Homeowners in Difficult Situations
The Connecticut Housing Finance Authority (CHFA) has established a number of programs to assist citizens in danger of losing their home during these tough economic times. Mortgage assistance loans, free counseling services and innovative refinance opportunities are offered. If you are in danger of losing your home, look into one or more of these programs to see if they are right for you.
Foreclosure Prevention Counseling-This type of counseling is available for those possibly facing foreclosure. A counselor works with the homeowner and lender to find a solution both parties can agree on.
Connecticut Fair Alternative Mortgage Lending Initiative and Education Programs-Many families qualify for a lower-interest, fixed-rate loan under this refinancing program. Families facing a financial hardship that was unexpected may qualify.
The Emergency Mortgage Assistance Program-This program offers temporary monthly mortgage payment assistance for those homeowners facing foreclosure as a result of a financial hardship. These payments are made for up to five years and the EMAP loan is secured using a subordinate, fixed-rate mortgage on the property. These loans must be repaid and there are limited funds to assist homeowners so the repayment of the EMAP mortgage begins when the homeowner’s financial situation improves sufficiently.
To learn more about these programs, contact the Connecticut Housing Finance Authority directly. Important changes have recently been made to the chfa emap program to allow more homeowners to benefit. Homeowners with a mortgage insured by the FHA can now apply for these loans and those who are in danger of foreclosure due to delinquent condominium fees, taxes or assessments may apply. Pension and retirement funds must also be disclosed and certain portions may be retained while still allowing the borrower to apply for the loan.
Who May Apply?
Homeowners facing foreclosure, those who anticipate becoming 60 days delinquent on their mortgage, those who are currently 60 days behind and those who have received a notice of intent to foreclose may apply for chfa emap programs. Certain requirements must be met. The home owners may only have one home and must demonstrate a generally favorable credit history before the financial hardship occurred. In addition, the borrower must be in a situation where he or she can’t meet the current mortgage obligation while showing that he or she can make the repayments when they come due.
Mortgages and Types of Property Eligible for These Programs
First and/or second liens may be refinanced using these programs as long as they are on the primary residence. The property must be a single-family, two to four-family home (borrower must be owner-occupant on one unit), condominium or planned unit development. The property may not be used for commercial purposes nor can it be a vacation home, an investment or a rental property.
Restrictions the Homeowner Must Be Aware Of
Eligibility for the EMAP program must be recertified every year and no other loans may be taken out on the property while the homeowner is receiving this assistance. If a pre-existing mortgage is paid off while the assistance is taking place, the homeowner may be required to take the monthly payment which was going toward the now paid off mortgage and apply it to the monthly mortgage amount with is being assisted. If you have previously received assistance under this program, you may reapply if your financial situation changes and you find you need assistance again. Certain conditions must be met.
Those who wish to have more information may contact the Connecticut Housing Finance Authority directly. Here one can learn more about the chfa emap income limit, program eligibility and more. Before taking this step, it is best to contact the lender directly to see if a program is available though the lender as CHFA funds are limited. The lender may be able to assist you through this difficult time and help you to keep your home while doing so.
Florida State Mortgage Help-So You Can Stay in Your Home
Florida State Mortgage Help is available for those in danger of losing their home. A number of Florida mortgage aid programs are offered along with emergency housing assistance and public housing. Bankruptcy and credit counseling are offered for those in this situation along with other resources. No matter what type of help you need when it comes to your home, look no further than Florida Prevention Resources to help you get your life back on track.
Read more about the programs
Are You Eligible For The Homesafe Georgia Program?
Getting Help With Your Georgia Mortgage
Like much of the rest of the country, Georgia is facing high unemployment rates and increasing foreclosures on homes. To counter this, the Homesafe Georgia program has begun, offering a home-equity type loan to homeowners, providing temporary help for the homeowner who is was unemployed or underemployed due to layoff.
There are two types of assistance available: Payment and Reinstatement. Payment assistance occurs when you are still out of work or underemployed. This plan will make your payments for up to 18 months, along with your contribution to the plan, too. Reinstatement is for those who have once again found work, but still owe substantial unpaid mortgage payments, up to six months. With reinstatement assistance, one lump sum is paid to your lender, catching you up so that you can continue with your mortgage payments on your own.
Who Can Qualify For This Program? (more…)
There are many agencies and programs in the state of Georgia that want to help their citizens fight foreclosures on their homes, retain their homes and also to help purchase homes. Georgia not only has these agencies that provide counseling, workshops and guidance, but they also have grants that support the state economy and increase access to better jobs and education by offering financial assistance that has loan forgiveness.
Georgia’s Department of Community Affairs helps prevent foreclosures, offers bridge loans in the form of mortgage assistance and other aid to those who have lost work because of circumstances not their fault, through a program called “Homesafe Georgia,” that is funded by the United States Government’s “Hardest Hit Fund (HHF).”
Today, there is more need for families to refinance their mortgages for financial reasons, and it is harder for younger buyers to secure enough cash for the down-payment of their first home than a couple decades ago. There are some federal programs that can assist first-time buyers such as The American Dream Act, Home Owners Emergency Loan Program, FREE HUD (department of Housing and Urban Development) Counseling and websites like FindHelp.org.
Many states have also implemented their own programs to help people buy affordable homes in their communities, and refinance to lower interest rates, which also strengthens their economies and improves the quality of life. In the third quarter of 2012, the percentage of Americans that did not own their own home decreased 7% nationwide from just a month ago, and 16% from one year ago. These sizable decreases are attributed mostly to five states: California, Georgia, Texas, Arizona and Michigan.
California Mortgage Help 2012
Quite honestly, the economy is still in the recovery mode. Because of this – there are people who continue to have problems making their respective payments on their mortgages each and every month. This is especially true in the state of California. Well, the good news is – there is help. California mortgage help is available for those finding it difficult to make their mortgage payments. The key will be to know exactly where to look, and what to look for in terms of your specific financial difficulty.
In the paragraphs that follow, you are going to learn some detailed information that pertains to help with your mortgage. After reading through the information provided below, you’re going to have a better understanding of the steps you need to take to get back on track, as well as the programs available that will help you do so.
The Different Forms of Financial Hardship and the Programs available to Help you Deal with Them.
DSHA Mortgage help
The premier state organization providing mortgage assistance in Delaware is the Delaware State Housing Authority. The Organization was established in 1968 and was later incorporated into the Community Affairs Department in 1970, and the Delaware Economic Development Office in 1987. Finally, it was incorporated in 1998.
In 1968 the DSHA started with a working budget of $100,000. Those initial assets have since grown to $500 million, mainly thanks to the issuing of tax-exempt revenue bonds.Newer Posts »