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  • indian state flageIndiana State Mortgage Help for Those in Danger of Foreclosure
    Many families find their homes in danger of being foreclosed on during these tough economic times. When you are in this situation, Indiana State Mortgage Help is available. A number of resources have been put into place to help those who find they cannot pay their house payment as agreed.
    The Home Affordable Modification Program, started under the Obama Administration, continues for those who need to modify their house payment due to a change in their financial situation. A number of programs are offered, depending on your personal situation. You may lower your monthly payment or your interest rate. A program is in place for those who have a second mortgage they are unable to make payments on and those whose home is underwater now have help. Many are unemployed at this time and financial relief is available. Foreclosure is not the only option you have at this time so contact the program today and see how they can be of assistance to you.
    http://www.877gethope.org/The Indiana Foreclosure Prevention Network has created a public-private partnership of housing related organizations, government agencies, community service organizations and lenders to help those who find themselves in danger of foreclosure. A number of programs are offered, ranging from assistance in developing a written financial plan to help in contacting mortgage providers. If needed, a referral to a certified foreclosure intervention specialist will be provided. These statewide programs are available to anyone who is concerned about losing their home.
    Many legal organizations are set up to help those in danger of foreclosure. When Indiana mortgage aid is needed and you feel your legal rights have been violated, turn to the Attorney General of the state. The Indiana courts have set up a listing o foreclosure prevention resources and the same is true of Indiana legal services. Help is available even for those who have no funds to pay an attorney, due to changed financial situations. It’s all a matter of asking as there are many who are willing and able to help in this situation.
    If you have missed a mortgage payment or are in danger of doing so, get help immediately. The sooner you do so, the sooner you can get Indiana mortgage help. With many Indiana foreclosure prevention resources available to help home owners, one is sure to be right for you. Doing so can help you to keep your home until you get back on solid footing again.
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    http://www.877gethope.org/

    Programs available from the Indiana Housing and Community Development Authority

     

    The State of Indiana provides you with various mortgage programs to buy and keep your home. Whether you are in the market for your first home or are struggling to avoid foreclosure, there are steps you can take to find the help you need.

    This article will focus on the programs available to citizens of Indiana through the Indiana Housing and Community Development Authority.

    The Indiana Housing and Community Development Authority is the main state player in providing housing to low- to medium-income citizens. Programs available include the Market Stabilization Program, the First Home Program, the First Home Plus program and Mortgage Credit Certificates, to mention a few.

    The Market Stabilization Program provides eligible homebuyers with a $15,000 loan which does not have to be paid as long as you live in the home for at least 10 years. The loan can be used to pay for a down payment and cover mortgage closing costs.

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    The First Home Program offers Hoosiers low cost mortgages with below market interest rates. The beauty of this program is that it can be combined with other available housing aid initiatives such as Veterans FHA, USDA Rural Development and Fannie Mae mortgage programs.

    First Home Plus also provides a maximum $7,500 down payment assistance loan which you do not have to repay until you either sell or refinance your home. If you are planning to stay in your home for the long run this may well be the program for you.

    The Mortgage Credit Certificate program offers Hoosiers with a Federal tax credit ranging from 20 to 35 percent of the interest paid on the mortgage every year. The program is capped at $2,000 and will only be available for a limited time, so contact the Indiana Housing and Community Development Authority now if you are planning to buy a new home.

    On a more local level, the Indianapolis Housing Agency provides over 7,600 families every year with quality housing throughout the city of Indianapolis. The goal is to provide fair access to housing to all eligible applicants. The program includes access to leasing and sales opportunities to a variety of housing projects and neighborhoods. The agency is sponsored by the Housing and Urban Development Department (HUD) and funded by the American Recovery and Reinvestment Act.

    As you can see there are several options to choose from if you are planning to buy a home. But what happens if you are struggling to keep your current home. Our next article will focus on the programs available to Hoosiers who are at risk of foreclosure.