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    Pennsylvania Foreclosure Help

    The state of Pennsylvania Housing Finance Agency and the US Department of Housing and Urban Development (HUD) have approved counselors who can help you free of charge to access programs and services for homeowners in danger of foreclosure. Pennsylvania Foreclosure Help is not just something that is important to keep our People in their Home during this housing crisis.  The Pennsylvania Mortgage Help Hotline is 1-8669845108. This way you are sure that the counselors you choose can really provide the help you need to evaluate your financial situation, explain the available options and work with your lender to arrive at a viable solution. So don´t leave your home-stay and call the hotline for help without delay.

    The longer you wait and the further behind you fall in mortgage payments the harder it will be to catch up. If you don´t get up to date with mortgage payments your lender could be allowed to sell your house to pay off the debts and this is a situation that too many, who find themselves in financial crisis have to face.

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    One of the programs is HEMAP Homeowners Emergency Mortgage Assistance Program from which thousands of families have gained much needed help. This is the only program of its kind created by Act 91 of 1983 to prevent homelessness among the citizens of Pennsylvania and funded by state appropriations and repayment of existing HEMAP loans. The program assures regular mortgage payments making it possible for the house owners to look for employment or train for other work or receive needed education.

    This program is in fact a loan which must be repaid and it is not available for FHA Title II (purchase) mortgages. Those who are approved for HEMAP have the property in danger of foreclosure secured by a mortgage so creating a loan. There are two types available according to the financial situation of the owner. These are continuing mortgage assistance loans and non-continuing mortgage assistance loans. Those qualifying for a non-continuing mortgage loan have their mortgage brought up to date from which date the owner is responsible to keep up the payments to the lender as well as monthly repayment to HEMAP.

    It is possible that there may be an additional cash contribution toward the mortgage delinquency when the HEMAP loan closes. Those who are eligible for a continuing mortgage assistance loan have the mortgage payments brought up to date and then subsequent payments to the lender are subsidized. Both types of loans are limited to a maximum of 24 months from the date of the mortgage delinquency or a maximum of $60,000,00 whichever comes first. The homeowners benefitting from the loan are required to pay up to 40 percent of their income toward their housing expenses. $25,00 being the minimum monthly payment allowed by law. Thus the mortgage is paid and the family do not lose their home.

    PHFA Mortgage Help Programs

    The Pennsylvania Housing Finance Agency (PHFA) has programs which offer help with closing costs when buying a home. PHFA Mortgage Help Programs are available to those in need in Pennsylvania.  Although there are certain requirements to qualify for these programs, the benefits you can receive far outweigh the time and effort you must invest. For example The Keystone Home Loan Program would make you eligible for a loan of up to $1,500 from the Keystone Assistance Loan Program at zero percent interest. Those who qualify for the Keystone Home Loan Plus Program could be eligible for up to $3,000, again at zero interest.

    Those who are in the “Homestead” program have the possibility of borrowing anything from $1,000 to $14,999 toward down payment and closing costs. People using the Access Modification Program have the Access Down payment and Closing Cost Assistance Program available.

    To be considered a First Time Homebuyer you must not own another house or even a mobile home if it is deeded and taxed and considered a real estate. The PHFA would reimburse you if you were called upon to pay recapture tax when you sell your home.
    This could only happen if you sold your home within 9 years, your income was more than the government limit and you made a profit on the sale of your home. This is for those who apply for a loan after January 1 2004. To give you confidence while looking
    for a home and a mortgage PHFA have a network of counseling agencies which provide information at no cost to you about the whole process of home buying. PHFA have many participating lenders throughout Pennsylvania who will guide you from start to
    finish. You can fill in an application form with a participating lender on line or by phone though applications directly with the PHFA can not be processed on line.

    There is a special program called The Access Home Modification Program which is offered with any PHFA first mortgage program, to help people with physical disabilities or who have family members who have physical disabilities and who need to make Accessibility modifications. It is a loan with deferred payment and with no interest. It is possible that those who are eligible for the Access Modification Funds could also qualify for the Access Down payment and Closing Cost Assistance Program. The Keystone Home Loan has the least restrictions and the highest purchase price and income limits. The Keystone Home Loan Plus has the lowest available rate and the income limits and purchase price are lower too. Down payment and closing cost assistance in the form of the Homestead Program has different income and purchase price limits.

    Getting a PHFA loan will not take any longer to process than any other mortgage. The length of time depends on many factors such as the condition of the property, the seller´s timeline, the lender, the real estate agent, the documentation supplied and so on. You
    can be sure that there will be a program for your needs and situation that will make it easier for you to become a homeowner, so please get in touch with the PHFA.

    Pennsylvania HEMAP Program Help

    Are you facing foreclosure? Are housing and other living expenses mounting up and draining your tight budget? You are not alone. In Pennsylvania thousands of homeowners are also facing the possibility of losing their home to a foreclosure. Now is the time to take control of the situation and find ways to reduce your costs and apply for programs that will help you save your home.

    In our previous article we focused on how you can save money on your home’s energy expenses and carry out vital repairs with the help of Pennsylvania State programs. In this article we hone on one of the most successful mortgage aid programs in Pennsylvania and the United States. Although this program cannot help everyone at risk of foreclosure, thousands have saved their homes thanks to it.

    Pennsylvania Foreclosure Prevention Act and the Homeowner’s Emergency Mortgage Assistance Program.

    This Homeowner’s Emergency Mortgage Assistance Program (HEMAP) is unique. There are no other programs like it in the United States. This program, which has been running for over 28 years,  provides a loan to homeowners to rescue them from the imminent danger of losing their home to foreclosure. The HEMAP loan is secured on their property. There are two types of programs homeowners can apply for under HEMAP depending on their income and assets: continuing mortgage assistance and non-continuing mortgage assistance.

    Non-Continuous Mortgage Assistance.

    This program-type is for homeowners who according to HEMAP guidelines can afford to pay their mortgage. It is popular with homeowners who have suffered financial difficulties which caused them to fall behind in their mortgage payments but who can now afford the mortgage if only they were not behind in their payments. A non-continuous mortgage assistance program brings the delinquent loan up-to-date. The homeowner must then continue making payments to their lender and the HEMAP program until each loan is repaid.

    Continuous Mortgage Assistance

    This program is for homeowners who currently cannot afford their mortgages but who can reasonably be expected to afford them in the future. Under this program a HEMAP loan is used to pay for any arrears on the mortgage and HEMAP subsidizes the homeowner’s mortgage payments to the lender.

    Mortgage and Time Limits

    Both the non-continuous and continuous programs are available for a maximum of 24 months or $60,000, whatever happens first. Also, in both cases the homeowner must pay a minimum of 40 percent of his or her income towards housing costs. The minimum payment is $25. However, in the non-continuous format it is the homeowner who is responsible of paying for the mortgage, while in the continuous mortgage assistance HEMAP takes over this responsibility for the duration of the program and pays the lender with the homeowner’s funds and the HEMAP subsidizing contribution.

    Homeowners are losing their properties to foreclosure at a faster rate than ever before in the history of Pennsylvania. If you own a home, this is not a time to procrastinate. Get in the driving seat and find out how you can save your home from foreclosure. The State of Pennsylvania provides help to families struggling to pay their mortgages through the Pennsylvania Housing Finance Agency.

    The Pennsylvania Housing Finance Agency (PHFA) has programs you can apply for if you are struggling to make ends meet and are worried you might lose your home. This three article series on Pennsylvania’s State Mortgage Aid will focus on providing practical guidance and advice on the current Pennsylvania Mortgage Assistance programs available to residents.

    Pennsylvania Low Income Energy Programs

    One of the biggest expenses of running a home is paying for the energy we use to keep it warm and run our energy-thirsty utilities. The State of Pennsylvania sponsors several programs to help low-income homeowners reduce their energy expenses.

    The Low-Income Rate Assistance program grants a lower rate for gas and electric utilities for qualifying low-income families. The program determines the rate a family pays towards their utilities based on its total income.

    The Low-Income Energy Efficiency is a program set by the Low-Income Usage Reduction Program and supported by the main gas and electric utilities companies in the state. The program provides low income users with free training, payment restructuring (when users are behind in their payments) and assistance towards making homes more energy efficient.

    Keystone Renovate and Repair Program

    The Keystone Renovate and Repair program protects homeowners from fraudulent lenders who prey on the most vulnerable and guarantee homes receive the work they need at fair price. This program offers successful applicants up to $35,000 loans or 120 percent of the homes value (whatever is highest)  with 10, 15 or 20 fixed-rate terms as well as affordable fees and interest rates. To qualify, your family income must be below the income limits set by the state of Pennsylvania for your area. Click here for a list of renovate and repair income limits for your region. For example, if you live in Chester, your income limit is $117,450, while if you live in Pike it is $96,300.

    The loan must be used to improve the basic livability of your principal residence. Repairs must be to critical areas in the home, such as safety, water, sewage and other code violations.

    To apply for this program you must contact your local Pennsylvania Housing Finance Authority program administrator. Click here to find the contact details of one near you.

    Government Mortgage Help in Philadelphia, PA

    800px-Philly_skyline If you live in Philadelphia, Pennsylvania, and face foreclosure, there may be help available to you to help you stay in your home. Other cities–Louisville, Pittsburgh, and Chicago–are examining the program and have adopted similar programs. People on the verge of foreclosure, who have lived in their homes for years but face their homes being sold by the sheriff’s office, have been helped by the local Philadelphia program.
    Philadelphia’s primary civil court requires anyone who is faced with foreclosure and who is living in his house to become involved in a “conciliation conference.” The conference is a face to face meeting that attempts to work out a compromise between the homeowner and lender. Every homeowner is given counseling, and many are given legal representation.

    Conciliation Conferences are scheduled in the City Hall in Philadelphia, on the sixth floor, every Thursday morning. Volunteer lawyers are present. Lawyers working for the mortgage companies are there too. Those facing foreclosure are there–some of them construction workers in overalls, some of them the elderly with canes, some of them parents, who have their children with them.
    Deals worked out can include lower monthly payments for borrowers, or cash for leaving the property, if a homeowner can’t afford payments at even a modified rate.

    pennsylvaniaThe Pocono Mountains, crisp clean streams, excellent trout fishing, and perfect autumn weather makes Pennsylvania among the absolute best places to live in the world. The history here, Civil War and petroleum production, the worlds first oil well in Titusville and the Liberty Bell in Philadelphia make it a historians Mecca. (more…)